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Missed out again...

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  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    henrypootle wrote: »
    Just need a rant really. Just missed out on another property and it's frustrating as I think it's down [STRIKE]to the EA not doing their job[/STRIKE] to me not being prepared financially. There's nothing we can do about it now, if only we'd had the forethought to get our finances in order before we viewed.


    Phoned mortgage provider on Monday to see if we could have any more (hubbie just got letter to say pay rise) and spent early this week sorting everything out so we were in a position to vput the offer in on Friday (was absolute maximum we could go to) so the situation was the seller would be best advised to sell to soemone else not at the limit of their finances.

    Surely[STRIKE] they should have let us know that the vendor was making their decision seeing how interested we were.[/STRIKE] I should have realised the vendor would think a bird in the hand was worth a possible offer from someone at the limit of their finances. Maybe the vendor [STRIKE]didn't realise our level of interest as EA didn't tell them?[/STRIKE] thought it would be better to buy from someone that didn't procrastinate and was ready to go?

    Feels really unfair and frustrating that [STRIKE]there is nothing we can do about it.[/STRIKE] I screwed up like this.

    Fixed your typos for you :D
  • phillw
    phillw Posts: 5,594 Forumite
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    edited 8 June 2017 at 2:31PM
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    henrypootle wrote: »
    Surely they should have let us know that the vendor was making their decision seeing how interested we were. Maybe the vendor didn't realise our level of interest as EA didn't tell them?

    The vendor will have started deciding as soon as there was an offer on the table. They would have no idea whether you would be able to sort out your finances, or just change your mind about the property in the mean time. If they wait a week then the worst case scenario is that you don't put in an offer and the others withdraw their offers.

    In the meantime the vendor will probably have put in an offer on a property and that vendor might pull out if they don't sell quick enough for them. It's a wonder that property chains ever work out.

    If they had been prepared to wait and let you gazump the other buyer, then there is no reason why the vendor couldn't have let someone else gazump you. You still wouldn't have the house and you'll have wasted time.
  • henrypootle
    henrypootle Posts: 109 Forumite
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    We got our decision in principle 2 months ago. Hubbie had a letter literally only last week to say that he had pay rise. When we realised how much we liked the house we then wanted a chance to see if the pay rise put us in a better position to offer more and it did. In hindsight we should have phoned them straight back when we had our finances sorted but we didn't. Onwards and upwards as they say.
    Henry Pootle (aka Piglet) :)

  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    The OP may have had a lucky escape if things go the way exit polls are showing. Pound dropping like stone already.
  • mysterymurdoch
    mysterymurdoch Posts: 139 Forumite
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    Superbly helpful and relevant as always.

    OP...imagine you're buying a house and you make an offer on monday. When would you expect the seller to tell you yes or no? By Tuesday afternoon maybe? Or would you be happy to sit in limbo until the following week?
  • Mickygg
    Mickygg Posts: 1,737 Forumite
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    If you want to be in a good position, get your finances sorted before viewing. Even if very recent changes mean a revised mortgage, I personally would only view what I could afford and have finances in place for. Simply because I would hate to see the perfect house (not that that exists) and not be able to move quick enough to secure it.

    I don't blame the EA on this occasion OP because the EA just wants it sold and doesn't care about an extra few £££.

    I wouldn't wait on someone to sort their finances out if I have a good offer on the table.
  • ACG
    ACG Posts: 23,729 Forumite
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    Looking at this from the vendors view, you viewed it and you were not THAT bowled over by it that you needed to have a think and a second viewing and double check your finances.

    The other buyer could have been to view it and loved it and had the finances in place.

    As a vendor, for the sake of a couple of grand are you going to go for something that looks promising or someone dithering?

    Despite what is in the news, houses are selling, demand is there.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    https://www.mumsnet.com/Talk/property/2951257-Anyone-else-struggling-to-sell-in-London
  • -taff
    -taff Posts: 14,507 Forumite
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    Having read part of post, she twice says cheaper flats have sold and her flat is more in 'outer london'....It usually comes down to that doesn't it?
    Shampoo? No thanks, I'll have real poo...
  • ess0two
    ess0two Posts: 3,606 Forumite
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    Snooze you lose..
    Official MR B fan club,dont go............................
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