Wee rant, unsure what to do but need to make a decision

[craigyboy84]

Hi folks

Dont know why iam posting here, maybe there could be helpful input here, or maybe balanced input from any board members that are solicitors, estate agents or know about selling and buying a home.

We put our house on the market on the 17th of June, plenty of veiwings over that weekend, with interested parties putting offers in. We accepted an offer from 1 person because we both liked her, i know it sounds silly but the wife an I clicked with her. The estate agent done some digging, checking her likley hood of getting aproved for a mortgage and thinking she was proceedable.

How that back fired, she came back 2 weeks laters she couldnt get the finance.

So the house went back on the market.

Veiwings again, we accpeted an offer on thw 3rd of July. Estate agent also added there solicitor said they have nothing to sell mortgage aip in place and deposit in hand mortgage broker doesnt see a problem placing the mortgage.

We found our next house on the 18th of july put our offer in and accpeted. We started our mortgage journey, it was approved on the 7th of August.

I got onto my solicitor around the 10th to find out the state of play i regards to our buyer. He got back to me; they were still waiting on there mortgage offer, i asked him to check what stage they are at. The buyers solicitor was very vague about the mortgage app and saying they want end of september.

So i got digging myself, i got in touch with buyers, they are telling me the hold up is with us, not true.

I asked our solicitor on Monday just gone for an update, he replied with give them to end of the week then asses things again.

So surprise surprise nothing.

Now our heads are going round the twist with it all. So disheartened.

Now we just feel we need to make our mind up; just forget the whole idea- that puts everything to bed, remarket the home or hang out for what may/may not be- leaving our heads going round in circles.

I dont know what answers iam looking for, more of a stressful rant. Just looking for some insight from pros in this field.

We are in Scotland, our own broker had said mortgages are a little quicker tocome through north of the border due to the home report and not waiting for surveys. We are 8 weeks on and they have no offer.

Thanks for having a read.

[Loopylooloo]

Its so stressful isnt it. I used to arrange mortgages and sell new homes for a while, so have some idea of this process. (England, not scotland). All I can say from my exoerience at work, and in our oersonal home moves, is that it takes time, and you get a lot of ups and downs, but eventually it should all come together. I would never accept an offer from someone who does not have their mortgage at least agreed in principle, nor from buyers who have not got an offer on their own property - everyone needs to be in a position to proceed in theory. Its a business transaction, so go with your head not your hearts. Good luck and try not to get too disheartened.

[BevS97]

I’m not in Scotland but I’d be inclined to let others view. If the original buyers get their offer then great but in the meantime you might get an offer from someone who can proceed.

We’ve always had our mortgage agreed in principle before we offered and then you are just waiting for the valuation to firm things up.
The last two times I’ve moved we were in the house within 8 weeks. So I’d be pushing everyone for updates daily and making a real nuisance of myself until I had some progress.

[Feebee2]

Sounds to me like your agent is at fault. They should not be advising you to accept an offer unless as a pp has said they have a mortgage in principle.
When DD was looking to buy we had to prove all sources of finance before we could make an offer.

[craigyboy84]

Originally Posted by BevS97

I’m not in Scotland but I’d be inclined to let others view. If the original buyers get their offer then great but in the meantime you might get an offer from someone who can proceed.

We’ve always had our mortgage agreed in principle before we offered and then you are just waiting for the valuation to firm things up.
The last two times I’ve moved we were in the house within 8 weeks. So I’d be pushing everyone for updates daily and making a real nuisance of myself until I had some progress.

See more...

Thanks.
I have been pestering the solicitor (may even be getting in his nerves) i even called the estate agent to ask her to make contact with the buyers direct.
Thats when i kind of took things into my own hands and emailed the buyer as they never replied to the estate agents email or call.

Iam considering emailing the buyers again, no beating about the bush question; are they having problems getting a mortgage. Iam not sure if this is somthing I can do.

[craigyboy84]

Originally Posted by Feebee2

Sounds to me like your agent is at fault. They should not be advising you to accept an offer unless as a pp has said they have a mortgage in principle.
When DD was looking to buy we had to prove all sources of finance before we could make an offer.

See more...

Thanks.

Maybe i never explained properly.

The solicitor that put in the 2nd partie's offer said his clients had nothing to sell, had a mortgage DIP, deposit in hand and there broker doesnt see any problem getting a full mortgage offer.

8 weeks in they dont have an offer.

Maybe we are just frustrated and stressed and expect everything to move quicker.

[Guest]

Originally Posted by Feebee2

Sounds to me like your agent is at fault. They should not be advising you to accept an offer unless as a pp has said they have a mortgage in principle.
When DD was looking to buy we had to prove all sources of finance before we could make an offer.

See more...

This was what I was thinking too. The first offer should never have been accepted. It also sounds like the second offer wasn’t fully vetted either because it should not have taken eight weeks in the really did have a mortgage agreed in principle.

[Blue nose]

You need to chase your agent and ask them to do the job you are paying for. They are the go between and need to push things along.

Ask if they recommend remarketing your property if the the buyer doesn't start moving things along by Friday. And give the buyer the deadline. It doesn't have to mean that they can no longer buy it more that you are covering yourselves should they continue to waste time.

[parisdisneyfan]

Same sort of thing happened to us, read my thread😡 it took us threatening to remarket that kicked our buyers into getting a move on! Must admit our agents were very pro active to keep it all together so it seems to me that your agents need a kick! Good luck it is a horrible time but will be worth it x

[Deano]

If you can contact the buyer yourself then do so, its financial transaction and your not going to become life long friends so be honest and direct. in my experience estate agents and solicitors are useless and just let things run at their own pace and and by some miracle you might move at some point in the future. I even picked up papers and delivered them personally to avoid postal delays. My solicitor hated me but tough I'm paying for them to provide a service. Hope you get it sorted it is so stressful but sure it will be worth it.