planty

Just found out the cash buyer at the bottom of the chain (only 2 houses in the chain) had a meeting with his bank manager yesterday I repeat yesterday (11 weeks after offers where accepted) to see if he can raise a MORTGAGE.

thebears

And the meeting went? okay? poorly?

planty

I have no idea yet!!!

sky

Well fingers and toes crossed for you then!

mumomonty

There's a saying in real estate:

Buyers are Liars

Hope you get sorted.

brackley

this is giving me the jitters, we are waiting for contracts to be signed, hopfully by the end of the week, only one person in the chain though. hope everything goes well for you. brackley

planty

Thanks for your support guys.

Its not just the buyer that's lying in this case, I've been getting conflicting statements from the different people in the office for several weeks now.

I just find it hard to believe that after 11 weeks the buyer would now approach the bank. Surely people would find out first how much they can borrow and have a mortgage offer sorted before even looking at houses.

Brackley I'm sure this is just some silly ba*&^%rd who deserves a kick up the backside and there'll be no problems for you. I'll cross my fingers for you as well as me.

Cheers Sky, much appreciated

brackley

hope everything works out well for you. we are knife edging it at the moment, we want to exchange contracts asap and have the moving date of 23rd june, hope they will play along with it as my daughter is in the middle of her gcse's in june and don't want to uproot the house before then. good luck to you

planty

Just spoke with the manager of the estate agents, the cash buyer appears to have left the planet, he's not returning calls, they don't know if he's got his mortgage or not. They're going to give him until Monday and then he'll be removed from the chain and our purchasers will have to start marketing their house again.

Think I may need some tonight.

Biddy

You have my sympathies.
We were in a very similar boat last year and were extremely fortunate it all went right at the 11th hour - well, 11.59 to be precise.

It's all a distant memory now fortunately as I'm sure it will be for you guys too.
Best of luck.

Nice Guy

Hi planty

What a bummer!

Talk about adding to the stress!

Buyers are liars and regretfully it is not unusual for people to send and say all the right signals only for them not to have the resources at all. Has happened to us twice, in the end we told our estate agents that they were not to send anyone round unless they have a cast iron guarantee that they have the resources to purchase the gaff.

One bloke came around and wanted us to break the law with regards stamp duty, I take the risk so he does not have to pay, needless to say, again to the estate agent, do not send dummies over.

My main beef is that estate agents earn a bloody good amount of dosh from you for what appears to be very little work, as it is even you that shows the punters around! Be ruthless with the buggers, make a noise/nuisance of yourself, don’t take any platitudes or pious crap trap from them.

Put your Captain Sensible hat on and make sure they work for you.

Fortunately when you move over here the whole house buying and selling malarkey is a whole lot better and easier, but a word of advise…………don’t rush in!

sky

Yes would agree, don't rush into buying a house here, cos when you're green to a country you can get ripped off big time.

I like the way they sell houses over here though, the agents do much more for you and rush around finding buyers and showing them around. All you have to do is leave the house while they do the showing.
I like the open homes too cos it gets round lots of folk all in one go.
NZ agents fees are high though.

planty

Thanks again guys.

Do you know in some ways the exchange rate, the world cup only a few weeks away and the possibility of having 2 summers does make the situation more bearable.

Biddy I do remember your situation and I think it was a whole lot worse for you, we're only selling the house. I know one way or another things will be fine for us, I was just so angry with this cash buyer and the estate agents yesterday, I'm on the phone to them everyday, so they're not getting an easy ride.

We're not planning on rushing into buying anything when we do get to NZ, we're gonna take a good look around and view lots of properties, whilst we rent for at least the first 6 months / a year

planty

Quick update guys, the cash buyer is no more, he hasn't made contact and the agents have left a message for him today telling him that the house he was purchasing is going back on the market.

Looks like we're gonna be here for a little while longer.

Bring on the world cup footie and the

Nice Guy

Bummer................let's hope at least Germany win the World Cup.