Your house isn't sold until the money's in the bank
May 17th 2005, 6:05 pm
#1
Banned
Thread Starter
Joined: Aug 2002
Posts: 7,613
Your house isn't sold until the money's in the bank
A lot of people seem to think they have sold their house because they have accepted an offer.
No.
Plenty of deals will go sour in today's market. My advice is to either insist on a 10% non-returnable deposit or keep your house on the market and open to viewings/ better offers until the deal is properly done.
No.
Plenty of deals will go sour in today's market. My advice is to either insist on a 10% non-returnable deposit or keep your house on the market and open to viewings/ better offers until the deal is properly done.
May 17th 2005, 6:34 pm
#2
Birds of a feather . . .
Joined: Oct 2004
Location: In my own home! Northern Beaches, Sydney
Posts: 1,788
Re: Your house isn't sold until the money's in the bank
Originally Posted by Don
A lot of people seem to think they have sold their house because they have accepted an offer.
No.
Plenty of deals will go sour in today's market. My advice is to either insist on a 10% non-returnable deposit or keep your house on the market and open to viewings/ better offers until the deal is properly done.
No.
Plenty of deals will go sour in today's market. My advice is to either insist on a 10% non-returnable deposit or keep your house on the market and open to viewings/ better offers until the deal is properly done.
Too true (unfortunately). We have accepted an offer but I am not counting any chickens yets! :scared:
I know your post serves as a reality check but you are an old scaremongerer you!
Binbird
May 17th 2005, 6:40 pm
#3
Banned
Thread Starter
Joined: Aug 2002
Posts: 7,613
Re: Your house isn't sold until the money's in the bank
Originally Posted by binbird
Too true (unfortunately). We have accepted an offer but I am not counting any chickens yets! :scared:
I know your post serves as a reality check but you are an old scaremongerer you!
Binbird
I know your post serves as a reality check but you are an old scaremongerer you!
Binbird
We are talking about big decisions - migration, new lives, big changes - and a mucked up house sale could be bad news, best to plan for problems?
May 17th 2005, 6:41 pm
#4
Chelmsford>Leeds>NSW!
Joined: Mar 2005
Location: Adamstown, NSW
Posts: 185
Re: Your house isn't sold until the money's in the bank
Yep. Agreed!
We were supposed to be exchanging on 1st June (I'll be gone on 26th May anyway!) but just found out that the buyer still hasn't had his mortgage confirmed! He apparently only needs a small mortgage top up to buy our place, but because he lives overseas (An expat elsewhere!) the confirmation is taking ages due to credit checks etc not being in the uk. I hope we'll not end up paying both the mortgage here and rent there for too long! Or worse, that it goes back on the market again! :scared:
We've already had one buyer pull out before this too.
House buying and selling: Never knowingly gone well!
We were supposed to be exchanging on 1st June (I'll be gone on 26th May anyway!) but just found out that the buyer still hasn't had his mortgage confirmed! He apparently only needs a small mortgage top up to buy our place, but because he lives overseas (An expat elsewhere!) the confirmation is taking ages due to credit checks etc not being in the uk. I hope we'll not end up paying both the mortgage here and rent there for too long! Or worse, that it goes back on the market again! :scared:
We've already had one buyer pull out before this too.
House buying and selling: Never knowingly gone well!
May 17th 2005, 6:55 pm
#5
Forum Regular
Joined: Feb 2005
Location: Newcastle, Australia
Posts: 140
Re: Your house isn't sold until the money's in the bank
I am meant to exchange next week, I don't dare think that it won't go through. 
May 17th 2005, 7:08 pm
#6
Up The Arse!!
Joined: May 2003
Location: Maslins
Posts: 3,425
Re: Your house isn't sold until the money's in the bank
Originally Posted by Don
A lot of people seem to think they have sold their house because they have accepted an offer.
No.
Plenty of deals will go sour in today's market. My advice is to either insist on a 10% non-returnable deposit or keep your house on the market and open to viewings/ better offers until the deal is properly done.
No.
Plenty of deals will go sour in today's market. My advice is to either insist on a 10% non-returnable deposit or keep your house on the market and open to viewings/ better offers until the deal is properly done.
The whole house buying process needs addressing some kind of contractual agreement once survey is done and price agreed!!
