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  • FIRST POST
    • nicos42
    • By nicos42 7th Oct 17, 5:15 PM
    • 15Posts
    • 2Thanks
    nicos42
    Vendor not found a house in two months and a dream house cheaper just came to market
    • #1
    • 7th Oct 17, 5:15 PM
    Vendor not found a house in two months and a dream house cheaper just came to market 7th Oct 17 at 5:15 PM
    Hi when i put my offer on as a first time buyer i was told that vendor has a place he likes. That was nearly two months ago but i did tell EA i would like to be in by Christmas.
    Problem is now that a house cane to market for considerably less money and in a much much more desirable location and very close to the office.
    I went to see it and EA told me that the vendor would assure me that i would be in for Christmas if i put an offer on.
    I feel very bad about it but the house i put the first offer the vendor is unlikely to find something this side of Christmas after speaking with EA.

    Can i withdraw my offer? And be honest aboit finding a cheaper home closer to the office?
    I m not sure what to do but if i don't offer on the cgeap house Monday morning it will fly.
Page 1
    • zx81
    • By zx81 7th Oct 17, 5:16 PM
    • 13,694 Posts
    • 14,165 Thanks
    zx81
    • #2
    • 7th Oct 17, 5:16 PM
    • #2
    • 7th Oct 17, 5:16 PM
    If you haven't exchanged, then yes, you can pull out.
    • nicos42
    • By nicos42 7th Oct 17, 5:47 PM
    • 15 Posts
    • 2 Thanks
    nicos42
    • #3
    • 7th Oct 17, 5:47 PM
    • #3
    • 7th Oct 17, 5:47 PM
    Either me or vendor have not spent money. Two months later he has not seen any houses he liked and regretfully i found a perfect cheaper house. I do feel very bad about it
    • nicos42
    • By nicos42 7th Oct 17, 5:49 PM
    • 15 Posts
    • 2 Thanks
    nicos42
    • #4
    • 7th Oct 17, 5:49 PM
    • #4
    • 7th Oct 17, 5:49 PM
    I was waiting for him to put an offer on before paying surveys and solicitors but EA tells me he nowhere near finding a place. And the more i wait interest rates go up etc
    • cjdavies
    • By cjdavies 7th Oct 17, 5:59 PM
    • 2,710 Posts
    • 2,696 Thanks
    cjdavies
    • #5
    • 7th Oct 17, 5:59 PM
    • #5
    • 7th Oct 17, 5:59 PM
    Go for the new one, seems to tick all your boxes.
    • nicos42
    • By nicos42 7th Oct 17, 6:15 PM
    • 15 Posts
    • 2 Thanks
    nicos42
    • #6
    • 7th Oct 17, 6:15 PM
    • #6
    • 7th Oct 17, 6:15 PM
    Thanks cj for advice
    • glasgowdan
    • By glasgowdan 7th Oct 17, 6:29 PM
    • 2,530 Posts
    • 2,838 Thanks
    glasgowdan
    • #7
    • 7th Oct 17, 6:29 PM
    • #7
    • 7th Oct 17, 6:29 PM
    Wait and see if you have an offer accepted on the new one first...you may find others want it too.
    • eddddy
    • By eddddy 7th Oct 17, 6:37 PM
    • 5,295 Posts
    • 4,934 Thanks
    eddddy
    • #8
    • 7th Oct 17, 6:37 PM
    • #8
    • 7th Oct 17, 6:37 PM
    Go ahead and offer on the new house, but...

    I went to see it and EA told me that the vendor would assure me that i would be in for Christmas if i put an offer on.
    Originally posted by nicos42
    ... take this with a HUGE pinch of salt.

    Is the seller living in the property, or is it vacant?

    Ask lots of questions like - is the seller linking the sale with a purchase?

    If so, what is the status of the purchase? (i.e. Has the seller found somewhere, has he/she got a mortgage arranged etc).


    And try not to 'burn your bridges' with the current EA and seller. If the new place doesn't work out - you might want to go back to first one.
    • Mickygg
    • By Mickygg 7th Oct 17, 7:11 PM
    • 1,325 Posts
    • 1,045 Thanks
    Mickygg
    • #9
    • 7th Oct 17, 7:11 PM
    • #9
    • 7th Oct 17, 7:11 PM
    You can't just sit and wait months for the seller to find a property if you've seen something else. Put an offer in on the other and if it's accepted tell the agent of the other the sellers have taken too long. Nothing to feel bad about.
    • PasturesNew
    • By PasturesNew 7th Oct 17, 7:14 PM
    • 60,289 Posts
    • 352,317 Thanks
    PasturesNew
    Vendor 1 had his chance.
    You have to go with what's best for you.
    Go for house 2 and don't look back, you've done nothing wrong. Vendor 1 should have pulled his finger out....
    • VintageHistorian
    • By VintageHistorian 7th Oct 17, 7:46 PM
    • 238 Posts
    • 1,503 Thanks
    VintageHistorian
    I would also take the "you'll be in by Christmas" thing from the estate agent with an enormous pinch of salt. Average time to completion is 12 weeks, and as Christmas gets closer everything will get more hectic as everyone else your solicitor and estate agent are dealing with will also want to be in by Christmas.

    So ignore that bit and focus on the other things you like about the house. Cheaper, closer to work, and you really like it. So buy it. But if you get to be in before 25 December then consider it to be a bonus, I wouldn't recommend setting your heart on it or throwing your toys out the pram when it doesn't come to pass.
    "You won't bloom until you're planted" - Graffiti spotted in Newcastle.

    Make £3 a Day in September 2017 - £29.31/£90 (2017 total - £164.27) | Womble #03 - £4.32 | Overpayments in 2017 - £866.06
    • nicos42
    • By nicos42 7th Oct 17, 7:59 PM
    • 15 Posts
    • 2 Thanks
    nicos42
    Thanks everyone for the great advice.
    2nd home owner is moving with gf and they both going to buy something bigger. But the advantages are huge over first house. i wouldnt burn bridges with first EA he is actually a very decent helpful EA. and i domt want to hurt 1st vendor feelings as he accepted a lower offer from me and they couldnt sell for months.
    Re puting a second offer on the 2nd house am I right in saying that i first have to withdraw first offer? I dont want to cause the vendor of 1st house any issues. I thought is not sort of legal to have two offers at one time. And i think that would be very bad to play someone s future really. I know i got to do what's best for me and so happy i finaly able to buy a home but i feel bad for both the EA and the vendor of the 1st house.
    • Mickygg
    • By Mickygg 7th Oct 17, 8:04 PM
    • 1,325 Posts
    • 1,045 Thanks
    Mickygg
    You can have 2 offers. Only withdraw your offer on property number 1 when your other offer is accepted on property number 2. It's perfectly legal.
    • Debtslayer
    • By Debtslayer 7th Oct 17, 8:07 PM
    • 407 Posts
    • 570 Thanks
    Debtslayer
    I would definitely make sure offers accepted on house 2 before pulling out of house 1 otherwise you may end up with neither house
    Current Mortgage 01.10.17 £113,513.88
    MFW Start Mortgage: £114,794.64
    Current MED: 2036 Target MED: 2026
    Overpayment Target for remainder of 2017: £2,000
    Mortgage overpayment savings: £473.20
    MFW No 124
    • nicos42
    • By nicos42 7th Oct 17, 8:25 PM
    • 15 Posts
    • 2 Thanks
    nicos42
    And if i get the offer accepted on house 2 what should i say to ea of house one? Without upsetting them
    • KiKi
    • By KiKi 7th Oct 17, 8:51 PM
    • 4,915 Posts
    • 7,989 Thanks
    KiKi
    And if i get the offer accepted on house 2 what should i say to ea of house one? Without upsetting them
    Originally posted by nicos42
    The truth. "I'm sorry, but your client has taken too long to find a house, so I've now found another property, and am withdrawing my offer. Thanks for all your help." And then you don't back down when they try and convince you otherwise.

    It's nice to do it decently, but you are not responsible for the vendor's lack of action, so there's nothing to feel guilty about. People do it all the time.
    ' <-- See that? It's called an apostrophe. It does not mean "hey, look out, here comes an S".
    • csgohan4
    • By csgohan4 7th Oct 17, 9:24 PM
    • 3,886 Posts
    • 2,411 Thanks
    csgohan4
    nothing personal, it's business
    "It is prudent when shopping for something important, not to limit yourself to Pound land"
    • Mickygg
    • By Mickygg 7th Oct 17, 10:21 PM
    • 1,325 Posts
    • 1,045 Thanks
    Mickygg
    And if i get the offer accepted on house 2 what should i say to ea of house one? Without upsetting them
    Originally posted by nicos42
    Refer to my previous post number 9.
    • bowlhead99
    • By bowlhead99 8th Oct 17, 1:47 AM
    • 6,745 Posts
    • 12,022 Thanks
    bowlhead99
    House one is not available for you to buy. Sure, it is listed with an estate agent but it is not really on the market and available for you to buy this month or next month or the month after for all you know.

    If he really wanted to sell it to you right now for the amount you have offered, he would do so, take your money, and move into rented accommodation - or put his stuff into storage and sponge off friends or family for a bit while he continues his search for his dream house. But he does not.

    So, offer your money to someone else who would be happy to take your money, and once it has been accepted and you are making progress tell the first vendor's agent that there doesn't seem to be any point proceeding with the offer you had made to him.

    The estate agent for property number one will probably be disappointed but not too surprised because they already know you have deliberately not moved that sale along to solicitors and surveys, while waiting for some concrete guidance from their client. So they and their client were not seeing your sale as money in the bank anyway.

    Dropping out of a purchase after you've already got everything lined up and done all the searches and legals and everyone thought it was proceeding, but you find something you prefer instead, is a right pain for everyone. Dropping out before you have even appointed a solicitor because the seller wasn't in a position to sell to you anyway, is not a big deal.
    • getmore4less
    • By getmore4less 8th Oct 17, 6:57 AM
    • 30,008 Posts
    • 17,934 Thanks
    getmore4less
    You can have 2 offers. Only withdraw your offer on property number 1 when your other offer is accepted on property number 2. It's perfectly legal.
    Originally posted by Mickygg
    and progressing well, even as far as the survey.



    The first offer is just that nothing has even started, the acceptance is just a place holder for the vendor, if prices are moving up they could well reconsider if they think there is more to come.

    if you would no longer buy the first one if this new one fell through then pull out earlier.


    if the EA finds out and asks, you tell the truth, you could not wait for ever and were waiting to be sure there would be no issues with this new one you found before withdrawing.
    (don't mention you want the new one more).
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