Urgent advice needed

[Jayne]

As you all know we are selling our bakery. We are having one or two problems with the buyer. We should have signed at Christams and she keeps stalling with different excuses.

She should have signed yesterday and didn't, today she turns up at the shop saying, she will sign and pay 10% only, then when she feels she can run the business without us, she'll pay the rest. She also wants to live in the flat for free while she's there.

She says the earliest she will complete is 10th March and if we don't agree, she's pulling out of the sale. Can she do this?

Very upset, my solicitor is out and don't know what to do!

Jayne

 

[creospace]

I've heard of similar instances to this before, I would wait for your solicitor and get him to talk to her solicitor and in turn he talk some sense into her.

I give up with mankind at times, I really do dispair

I hope it all sorts out for you jayne, keep us posted.

maybe handson or other legal eagles here can offer some advice.

Gary

 

[Jayne]

I hope so, she's still sat outside the shop, waiting for our answer!

I feel very upset, I feel like she's threatening us to do or else.

Jayne

 

[Rob Holmes]

Why do you think she is doing this Jayne ?

It's strange behaviour for someone who is buying a business.

I certainly wouldn't have a delayed completion based on when she thinks she will be capable of running the business - that could be never.

Once she's in the property living free with only paying 10% and holding you there indefinately she's laughing.

Is this through an agent? If so I would request the negotiations go through the agent. I would also instruct the agent to start looking for another buyer - if this one thinks they can hold you over a barrel with threats once then they'll do it again and again. I usually take people up on their ultimatums

I would say 10th March is fine for completion (less than a moth - IF you can walk away on completion with all the cash )

Your solicitor would be able to advise if you should have a short hold tennancy agreement with her upon exchange of contracts (so she can't pull out without great expense after she's moved in) - BUT if she's getting a mortgage it may affect her if she is taking over a property with a tennants in - even if it's herself.

Rob

 

[Rob Holmes]

I hope so, she's still sat outside the shop, waiting for our answer!

I feel very upset, I feel like she's threatening us to do or else.

Jayne

wow - hmm so how about exchange with 10% deposit asap, tennancy agreement after exchange, complete and walk away on 10th March.

I am NOT legally qualified and am speaking from experience only - and am not qualified in any way to answer your questions - seek proper legal advice before agreeing anything!

Rob

 

[Jayne]

I don't know why she's doing it. She has two businesses in London, so she should know what she's doing, they are coffee shops too. Mark pomised to stay and learn her about the bakery anyway, so I cannot think what she's up to.

I feel like i'm going to get conned or something and i'm not very happy.

Jayne

 

[Rob Holmes]

actually thinking about it you probably couldn't do a tennancy agreement once you've exchanged - maybe your solicitor can draft something else up.

Wheres Handson group when you want him

R

 

[Jayne]

I hope so, she's still sat outside the shop, waiting for our answer!

I feel very upset, I feel like she's threatening us to do or else.

Jayne

wow - hmm so how about exchange with 10% deposit asap, tennancy agreement after exchange, complete and walk away on 10th March.

I am NOT legally qualified and am speaking from experience only - and am not qualified in any way to answer your questions - seek proper legal advice before agreeing anything!

Rob

The tennancy agreement is a good idea Rob, i'm going to try my solicitor again and ask him.

Thanks

 

[Rob Holmes]

I have only ever heard of 2 properties not completing after exchange - it's very very rare and very very expensive. You can't exchange without a completion date so agree both and I'd also have a written agreement on how Mark is helpin gher when she takes over with a clause in there that allows him to walk away under certain circumstances (like when it rains )

Rob

 

[creospace]

I don't know why she's doing it. She has two businesses in London

hmm maybe that's why she's doing it, shrewd business woman!

Gary

 

[Jayne]

Deleted that bit, as I was just moaning.

Jayne

 

[clairemackaness]

Dont let her move in without full payment Jayne, she might try the old squatters rights if she decides not to complete the sale on the bakery.

 

[multilingual]

I am not a legal expert Jayne, but I would just tell her to P*** Off.

The business has a crtain value based on past performance.

I she gets in and makes a complete mess of running the place without you then the business's reputation will suffer tremendously. She can then say 'it's not worth the asking price so reduce it by 50K and I will sign, or she can walk away and leave you to pick up the pieces of a business that is no longer saleable.

Don't even think about letting her in without getting the money first.

Just my opinion, but I think I am right.

JB

 

[Jayne]

Thanks Jonathan,

Just had a call from my solicitor and that's what he said..no, no, no to everything I said.

Still don't feel any better!

Jayne

 

[Cornish Steve]

In my opinion, this is 100 percent tactics. She's trying to get maximum advantage from the deal and playing with your hopes and emotions to achieve it. In my opinion, you must take control and seek the initiative. You need to be firm with her, threaten to cancel the deal, and be willing to look elsewhere for a buyer. If she's serious, you should see a response. If she's playing a game, the sooner you know it the better.

Sorry, Jayne. I know this weighs heavily on your mind right now. In the end, though, you have to do what makes most business sense. You can't let someone gain an advantage by playing with your emotions. She knows you want her to buy.

 

[Jayne]

She's already getting a great deal, she has no reason to play silly games. All it does is upset people and cause bad feelings.

It's hard to keep trusting people when things like this happen. If you say something, you should mean it. Like signing at Christmas, not 10th March!

Jayne

 

[Cornish Steve]

She's already getting a great deal, she has no reason to play silly games. All it does is upset people and cause bad feelings.

It's hard to keep trusting people when things like this happen. If you say something, you should mean it. Like signing at Christmas, not 10th March!

Jayne

Unfortunately, some people are ruthless when it comes to negotiating and getting the best deal. For them, the game is almost as important as the outcome. They feel disappointed if they don't squeeze every last concession from you. I don't agree with this approach, but it happens all the time.

Again, I'm so sorry that you face this difficult situation. I hope things work out for you.

 

[Jayne]

Thank You Steve, i've got all my fingers crossed.

I'm not into this ruthless business stuff either, you can still do business and be nice. I hate those sort of people with no feelings and will do anything for a quick buck! Not my sort of person at all.

Jayne

 

[Alpha]

Sorry I came in late on this so you probably have the answer but it is often quite normal for some people to negotiate part payments for a business however it is done before the deal is concluded.

To try to intrduce new terms now is basically a tactic of pushing you into a corner which you should not back down on and really tell her that she should now only talk to your solicitor not you.

Certainly do not let her move into the flat without a rental agreement for a the time that she spends there before she has fully paid for the business.

Do not now become personally involved, do everything thorugh your solicitor.

 

[Jayne]

Thanks Alan,

I've spoken to my solicitor now and he says the same as you. Except he says not to let them in the flat either.

He says, no money, no flat/business! He also told me that lots try this on, it's not nice at all when you are on the receiving end of this tactic!

She should be signing tomorrow now and putting a 10% deposit down, i'll keep you informed.

Jayne

 

[VeryMark]

Jayne,

Don't let yourself be browbeaten. You're not the one whose being unreasonable - no sale is better than being taken for a ride.

 

Good Luck Jayne, let us know how you get on!

 

[Rob Holmes]

Yup - go get em

Rob

 

[Jayne]

Thanks Philip, Claire and Rob

Feeling a bit better now, cooked us a nice chicken dinner with all the trimmings, always makes you feel better.

I don't think i'll sleep much tonight though.

Jayne

 

[fastfences]

Hi Jayne,
I know I'm in on this late; but you've been waiting since about mid=November for this to complete. Shame you don't have other interested parties; but she's probably banking on that thinking you're desperate.
I hope it's all sorted tomorrow.
Cheers, Nigel

 

[Jayne]

We had a couple who wanted to buy the business only and rent from us, we told them we were selling and they said, if we changed our mind to ring them. I think they will have probably found somewhere by now, but we still have their number to try.

The business part isn't that hard to get rid of, we wanted to sell everything including the flat. You see, we are thinking of moving eventually.

Jayne

 

[Ravenfire]

Sorry Jayne have no advice to offer but hope you get this sorted. Sounds like this woman knows exactly what she is doing!

Toni

 

[Jayne]

I'm starting to feel a bit sorry for my staff now, she'll be there new boss. They'll not get away with anything with that one :lol:

Jayne

 

[multilingual]

I'm starting to feel a bit sorry for my staff now, she'll be there new boss. They'll not get away with anything with that one :lol:

Jayne

You mean that they are currently nicking the takings, slipping free loaves to their families and eating all your stock at lunch time?

:?

JB

 

[Jayne]

No :lol:

Not sure about my Mother though, she can eat plenty :lol:

Jayne

 

[multilingual]

Whoa!

So your mother is an employee and her potential new boss is giving you lots of grief and anguish?

Sounds like a recipe for a few fireworks.

8)

JB

 

[Jayne]

Well if she signs tomorrow, it will not be my problem much longer :lol:

My husband says, have you ever tried working with the Mother-in-law and still be sane at the end of it? :lol:

My Mam has already said she doesn't like this new woman, but i'm not sacking my Mam and she will not leave, so what can I do?. Family :roll:

Jayne

 

[Jayne]

Update... Still waiting, solicitor hasn't phoned me yet to say if she's signed or not, or whether we have a deposit yet.

I have got butterflies in my belly!

Jayne

 

[Agri-Hire]

Jayne,

Is that bird still sitting outside the shop waiting for an answer?

I can be there is two hours with the tractor. I will just lift the car 15 foot into the air and tell her to sign or else.

Women!!

OOPS, sorry Jayne, your a woman as well aren't you.

Anyway, got to go. Nic the Chick keeps pestering me for my phone number and a date, so if she sees that I am online I might not get out of the house today.

Women!!

doh!!

 

[Jayne]

She did leave finally, but she's coming back on Monday and we still haven't heard from the solicitor.

I may have taken you up on the tractor idea if you had posted sooner :lol:

Thanks for the offer.

Jayne

 

[webit]

I really would phone the Solicitor and push them for what's going on - but then again I can be a bit bolshy in these situations.

Better to walk away then be ripped off - is the business still ongoing - if so your' in a strong position.

 

[Jayne]

Business is doing fine and all the flat is new, ready for someone to take over and move in straight away. That's why I cannot understand why it's going on so long.

Jayne

 

[gary brown]

Jayne,

You have done the right thing, even if it doesn't feel like that right now, you just need to sit it out and let your Solicitor do his/her job.

She is playing with your mind and seeing if she can grind you down, this is a standard business tactic for a hard nosed business person, I see it quite a lot.

Play her at her own game if you want to have a chat pm me and I will give you my direct number.

Gary Brown

 

[Jayne]

Whipee! She's signed and paid her deposit, we leave on the 10th March.. I'm a happy bunny

Where's my campervan!

 

[creacom]

Well done Jayne !!!

UKBF members beware - Jayne will soon be in a campervan on a road near you ! :lol:

Great news for you.

Jacqui