THORPES

Hello everyone

We accepted an offer on our house 8 weeks ago and nothing as happened since.:curse:
We have telephoned EA numerous times but nothing. The only response we have had was on Thursday. We telephoned EA who advised she had contacted buyer. He said he was having a meeting on Friday to secure a new contract. (he is a builder) If he gets this contract he will have work for next 11 years. He said he can then have a better mortgage. He told EA that is why its taken so long. He is a FTB with mortgage offer in place but because of this new contract he has hung on to get this better mortgage deal.
Well our EA said she told him he must let us know by Monday (yesterday) because its not fair on us.
Well Mondays been and gone and heard nothing. Hubby called EA but nothing.
The EA has closed local office on monday and although they said telephone number remains same, there is no answer and it just rings out. It took hubby along time to find correct one. Maybe this is the reason we have heard nothing.
Anyway, sorry for the long post but I was wondering if anyone has ideas to speed this up. I know its a buyers market but what can we do?

Jill

Flutterby

Have you kept the house on the market or taken it off for this sale?

Personally after this amount of time with no obvious action from the buyer in this market I would be remarketing it, tell the buyer he can still have it for the agreed price if he can get his act together and try and find someone else to buy it.

Has he instructed a solicitor, got searches done?

THORPES

Well we are supposed to have it still on market. there is no sold sign up but it does say "under offer " on internet. We have told EA that if anyone wants to view to let them but we have had no calls.
Hubby is calling EA to tell them if we dont hear anything by Friday then we will market with other EA.

Wandathecat

I smell a rat......he may well be playing the market in the current climate. My guessing is he has several offers on the go or will come in asking for money off.

Cx

isle

Hi
Have you been instructed to arrange solicitors, if not then the E/A should not have your house showing as under offer or SSTC on the net, this will stop people from making enquires. Get them to change it back, if the buyer does want your property then seeing this may push him into instructing solicitors.
Good luck.
Mrs Isle

THORPES

Yes we have both instructed solicitors. We have already completed fixtures and fitting questionaire.
Our EA said she has been speaking with there solicitors but like there mortgage company, they have not heard from buyer for a while.
Our house is no longer "under offer" and the EA is marketing it again.
The only problem is the EA shut the local office so I think we may get another local agent to market.

isle

Excellent news that he has instructed solicitors, from experience less likely to pull out once they have started spending. Have your E/A send him a letter rather than phone him to say that you are remarketing the property, due to having no contact from him

How long have you been with the E/A, did you sign a 12 week contract.

Mrs Isle

alipally

IMHO, EA's are generally pants at chasing.... Phone you solicitor and get him to push his solicitor... that way you'll get a definitive answer sooner rather than later!
Hope that you are sold soon and this is resolved to your advantage.

Ali x

THORPES

Thanks Ali

Jill
xxx

pumpkin blossom

Our first buyer pulled out after instructing a solicitor, and they hadn't even got as far as having the survey done, but their chain collapsed.

I hope this works out for you, but I would always work on the assumption that it isn't. I would see how long you are tied into the EA and give them notice now if you can, and then find a company with an office near by.
Good luck

wardy2

Hi Jill

We were in a similar position to you although now ours is on the move again.

The bit I saw on your post was about having a mortgage offer in place..........a friend of mine who is a financial/mortgage advisor told me that there is no mortgage offer in place until the surveyor has reported back to the lenders on the property to give their valuation.

He may have a potential offer but its not guaranteed until after the checks have been done with the surveyor and they agree to lend the amount of the offer made.

We thought we were in the same position as you and that our FTB's had mortgage offer in place when they made the offer, well thats what our EA led us to believe, it turns out they dont and we are still waiting to see if they get their mortgage as their surveyor came out monday.

I really hope it works out for you, but I would be tempted to give a deadline and get your house remarketed.

THORPES

Thanks Wardy

How long did it take your buyers from the offer to getting the survey?

Jill

Flutterby

Jill

It took our buyers 5 weeks from the offer to getting the survey done. But the mortgage offer was made 2 days after the survey was done.

isle

Hi
Once an offer is accepted then the survey can happen the same day if they can get some one to do it, also not every one requests a survey especially if they are cash buyers and can afford the lose if the place fell down.
Good luck in finding a new buyer.
They are out there, just not many of them.
Isle

wardy2

Ours is a bit unusual.

Our offer was accepted 20th March the buyers applied to Ulster Bank for survey as they had already been given the nod that they could potentially have mortgage with them, we waited almost 7 weeks to be told Ulster bank would no longer give mortgages to UK mainland because of all this new mortgage fiasco.

They then contacted Chelsea Building society to apply for mortgage who requested survey within 2 weeks unfortunately we were in Australia on validation trip so they have just completed it.

The next nightmare is now seeing if surveyor agreeing with offer price my friend says some surveyors are massively undervaluing houses because no one knows what is going to happen with house prices.

He has one client in London whose house has been undervalued by £70k

work for surveyors is scarce at the moment and most can be out within 2 days.

Our buyers surveyor even rang us in australia to see if we were home yet now that is desperate.

best wishes

Kaye