Help! Offer Accepted But Still Viewings

besonders1

I'm glad that in my area once an offer is made the sold sign goes up (a bit too soon!) but as others have said, usually the buyer can't get the finance so 3 weeks later its back for sale again, so it tend to be the opposite of your situation. If I was buying like you I would be put off thinking that I would be wasting fees especially like if you had said, it is a true bargain, then someone else will certainly think the same as well. Can you now emphasize that you are in a good position to move quickly and insist that you won't buy unless they take the house off the market? You'll find that bargains do get a lot of interest, regardless of whether they are repos or not.

Sprintz

this is the normal protocol and even if someone punts a better offer, the seller will feel more committed to a buyer who has already invested money in a survey etc.

also, you are in a great position as FTB so you should be OK

- good to hear you are getting a bargain, this should set you up alrite as a FTB

sbp did you actually use your D.O.B as your username: 23rd Nov 1983?

sbp231183

Hello,

fingers crossed I suppose that there is nothing we can do but wait and see and rush everything as much as possible.

Nope, that would not be very wise of me!!!

Sprintz

yep squeakiest wheel gets the most attention - reckon you'll be alrite

good idea to edit that special date

QTPie

tattoed_bum wrote: »

as someone who has had a couple of buyers drop out i would strongly advice a seller to continue to market the property even after an offer ,
imagine if you have a survey done and are not happy with it so it will then be ok for you to pull from the sale and leave the seller in the lurch

Same here - http://forums.moneysavingexpert.com/showthread.html?t=1453497

As someone who was gazundered, I would not want to take my house off the market until exchange of contract. I would not gazump a buyer, but after being "left in the lurch", I have no faith that an offer is genuine until contracts are exchanged

It really shouldn't be this way, but I see why your seller goes not want to take it off the market. I don't think that buyers have the right to "have their cake and eat it": you have the right to drop out of the sale at any time before exchange of contracts, therefore the seller should not stop marketing it until exchange.

Good luck
QT

Wickedkitten

A mortgage in principal really isn't worth much at all these days as you can still get one based on your figures, and then fail when it comes to them submitting the actual mortgage app.

I would be trying to get your application in and having the survey done as soon as possible really.

bluejake

sbp231183 wrote: »

Please can someone give us some advice. We have put an offer in on a house (1st time buyers no chain) and it was accepted however they have informed us that they are letting some people view the house on monday. We have said that we are unhappy with this and they have said its a contingency on their part and that they will tell the other viewers tht a bid has been made and accepted but they have first refusal should it fall through. As u can imagine we are not happy about this!!! our conveyancing solicitor is going in mon/tues and we have given them our agreement in principle. The agents have reassured us that bids wont be accepted however we know that this is not always true!! the house is a BARGAIN and are wondering if there is anything we can do, also they have not stated that it is under offer online, should we be saying unless that is done we will pull out!!

ANY ADVICE GREATLY APPRECIATED THANKS

Tell them that they must stop marketing the property or you're pulling out.

If you are not prepared to do that then put up with the situation, in which case you might possibly be out bid at the last minute. Personally, in this market if I was a buyer I would be playing it tough and be prepared to pull out if I didn't get what I wanted safe in the knowledge that the longer it takes to buy a property in all likely hood the more money I will save considering prices are plummeting.

However, your post exudes desperation to buy this particular property and no doubt the other side picks up on this. It is often the case with buyers on here. There is always another bargain round the corner and a better bargain at that in a property crash.

kunekune

I think there is a particular issue here, which means that OP is at slightly more risk of being gazumped than usual. She mentions that the property is on the market because someone has died - ie, it is a probate sale. That means it is likely to be being sold by executors. They are fiduciaries and as such have a duty to obtain the best price. While the agreement with OP is not enforceable, I think they are probably under a duty to keep marketing the property just in case.

This is, though, based on general principle rather than knowledge of how it might be applied in practice, so if any conveyancers know otherwise, I am quite ready to be proved wrong.

besonders1

I would threaten to reduce my offer unless they took it off the market. Its better than getting excited about the house only to be told that you have been outbid and wasted solicitors fees and still end up with nothing to show for your money. Big no, no

spuds_2

It's not unreasonable to keep the property on the market until the survey is done. I am sure things will be fine - they could easily have had viewings and not told you. The EA represents the vendor so they have to act in their interests. Once the survey is done, move things on as quickly as possible. Not all vendors are sneaky and dishonest, but they have to be certain you are serious - until you've forked out for a survey, you haven't really committed anything.