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  • FIRST POST
    • tingly
    • By tingly 5th Feb 18, 4:49 PM
    • 212Posts
    • 171Thanks
    tingly
    Does a decision in pronciple mean no house to sell
    • #1
    • 5th Feb 18, 4:49 PM
    Does a decision in pronciple mean no house to sell 5th Feb 18 at 4:49 PM
    Hi there

    If someone has a decision in principle, does that by necessity mean they have no house to sell ?
    Thanks
Page 1
    • fairy lights
    • By fairy lights 5th Feb 18, 4:52 PM
    • 8,471 Posts
    • 28,548 Thanks
    fairy lights
    • #2
    • 5th Feb 18, 4:52 PM
    • #2
    • 5th Feb 18, 4:52 PM
    No, it means that a mortgage company will 'in principle' lend them what they're asking for.
    • tingly
    • By tingly 5th Feb 18, 5:47 PM
    • 212 Posts
    • 171 Thanks
    tingly
    • #3
    • 5th Feb 18, 5:47 PM
    • #3
    • 5th Feb 18, 5:47 PM
    Oh i see thanks. So i still might have to wait for a sale then. Thanks
    • eddddy
    • By eddddy 5th Feb 18, 7:22 PM
    • 5,824 Posts
    • 5,562 Thanks
    eddddy
    • #4
    • 5th Feb 18, 7:22 PM
    • #4
    • 5th Feb 18, 7:22 PM
    If someone has a decision in principle, does that by necessity mean they have no house to sell ?
    Originally posted by tingly
    Oh i see thanks. So i still might have to wait for a sale then. Thanks
    Originally posted by tingly
    Are you saying that you've accepted an offer on your property, and you're wondering if your buyer has a property to sell?

    You should really have found out that kind of information before accepting the offer. If they do have a property to sell, you'd also want to know whether it is under offer, if there is a chain below, whether the chain is complete etc.

    If you're selling through an EA, those should be the type of things they automatically ask.
    • saajan_12
    • By saajan_12 5th Feb 18, 7:35 PM
    • 1,112 Posts
    • 750 Thanks
    saajan_12
    • #5
    • 5th Feb 18, 7:35 PM
    • #5
    • 5th Feb 18, 7:35 PM
    Hi there

    If someone has a decision in principle, does that by necessity mean they have no house to sell ?
    Thanks
    Originally posted by tingly
    No, the "in principle" means in theory we'd loan this much, depending on
    a) the house you're buying
    b) proof of what you've said about your affordability

    They could still be selling a house and only borrowing the additional to buy your house if it's more expensive.
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