From putting in your offer to finally getting the keys, buying and selling a home can end up being an arduously long process.

There’s room for all kinds of speed bumps along the way, as one Redditor unfortunately found out after she was the subject of a trick slammed as highly ‘selfish’ and even ‘immoral.’

Following the death of her husband, @annacosta13 planned to sell her house to a cash buyer – someone who has the funds to purchase a property outright without a mortgage – and move abroad. And because of this, she was on a strict timeline.

‘After three months of f*****g around, my buyers owned up and told my EA [estate agent] that they weren’t cash buyers as they told us, but in a chain,’ she wrote in the HousingUK Reddit thread.

‘Realistically we could have set an exchange date for next week but since they’ve lied and haven’t sold their house yet or exchanged there is zero chance we will move with this awful situation any time soon.

‘They knew I was in [a] pretty horrible situation as my husband was terminal (sadly he passed away two weeks ago) and wanted a no chain for a quick sale. I’m thinking of pulling out and looking for a new buyer.’

According to research from Home Selling Expert, a whopping 31% of house sales fall through at least once before they’re completed. Most commonly, sales fall through when buyers or sellers alike change their minds, but it also happens when the chain is broken.

Anna isn’t alone, as in the comments section, one Redditor noted that the exact same thing had happened to them. Luckily, @12000milespa found out ‘early enough’ and ‘dumped them’ – but it didn’t stop there.

‘Another said they had the cash and proved it to the estate agent as part of due diligence. Later, they were delaying and blaming [the] mortgage providers and saying they can’t get the full sum,’ they detailed.

‘I pointed out it was a cash sale for the full value, and it was the estate agent who came back regarding the ‘misunderstanding.’ I realised then that the agent was in with the lenders and was trying to get me to sell it off more cheaply for a cut.

‘They got an ultimatum – full price, cash in seven days or they both get ditched. I got what I wanted.’

Similarly, @queenofdesertrock had a prospective buyer claim to have the cash to buy outright. Naturally, she’d lied about it and was actually waiting on the sale of a property she’d inherited.

‘She tried to undermine my sale price by thousands of pounds and got very pushy when I stood my ground on it and how much I was willing to negotiate,’ they detailed.

‘She also no-showed on viewing my house twice and didn’t bother to apologise or give any reason why she didn’t turn up.’

And in @Extra-Permission6701’s experience, the exact same happened after they lost both their husband and daughter.

‘My buyers backed out on the day of completion. I waited a couple of months and sold my property for much more,’ they wrote.

Naturally, there are legal ramifications for lying about your situation when buying a home. And as CEO of Yopa Verona Frankish tells Metro, homeowners could have a strong case for compensation if they’re actively deceived by a new buyer.

‘If you find that a buyer has lied about their position within the market, for example being a cash buyer and therefore chain free, you may have a very strong case for misrepresentation,’ Verona explains.

‘This would allow you as the seller to pursue compensation via legal means, but the strength of your case will depend on the severity of the deception and your ability to prove that they have deliberately lied.’

Luckily, cases like these aren’t super common, as most ‘legitimate’ estate agents should fact-check the buyer’s situation through account checks, proof of funds and mandatory anti-money laundering processes.

‘If an oversight does occur and you find your buyer has lied about being chain-free, the first thing to do is consult a solicitor as they will be best positioned to advise you on your legal options,’ Verona shares.

‘If you do decide to proceed with the legal route, gather as much evidence as possible to support your case, such as emails and texts, where your buyer states they are a cash buyer and or chain free. 

‘If you have grounds for misrepresentation, you could claim compensation for the time and money wasted dealing with the buyer, such as the cost of conducting surveys.

‘You must also be able to prove that you relied on the buyer’s claims of being chain-free when proceeding, so it’s also advisable to provide evidence of other interested buyers and that you opted not to proceed because they were already in a chain.’

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