My Worst Nightmare!!!!! Help

TopKat*1

Yeah I know what u mean MX5huggy, so at what stage would u say i am safe

MX5huggy

When you have compleated! Sorry!

They have to get the best price possible remember that there is someone out there that has lost this house and if they don't get enough money they will be paying for it for many years to come.

hethmar

They have to try to get the most they can for it. The loan on it may be more than the selling price. The people who owned it will have to find the difference. So they have to show they are doing their best to secure the best price.

You will be safe when you have exchanged contracts.

silvercar

Drop your offer on a repo and some department at the lenders is going to spend days checking whether to accept your offer and the advert is going to have to go back into the paper.

Remember these are big lenders they are not really bothered, in the scheme of things, whether you buy this week or next month.

If you think this is your worst nightmare, how do you think the people repossessed feel?

TopKat*1

well yes it is awful and i wouldnt wish it on anyone but the last few years havnt been great for first time buyers who have been priced out of the market either.

Im just doing whats best for me i have no control of what happens to other people

izzybusy23

I have been following this thread, and its got some good advice. You have to appreciate the the lender is trying to get as much as they can for the house and will try to generate interest to do that. You have also got to remember, as rightly pointed out that the person who lost that house has to find the difference between what they paid and what it sells for. You said above that you can't control other people, so relax because you can't stop anybody else making an offer on this property if they want to either. Until exchange of contracts, its up for grabs to anybody I'm afraid so you need to move fast to secure it.

Also, rather petty but could you please stop replying in 'text' speech its makes you sound like you've just left school like my 17 year old niece and hard to take you seriously.!!

TopKat*1

grow up izzy busy, maybe you have time to be pedantic but i dont.

MX5huggy

Also, rather petty but could you please stop replying in 'text' speech its makes you sound like you've just left school like my 17 year old niece and hard to take you seriously.!!

Give them a break! they use u insted of you, ur insted of you're which is short for you are any way!

Its not even close to being TXT SPK

TopKat*1

Thanks MX5huggy, text talk my bum:mad:

I only wanted a bit of reassurance, I didnt realise how stressful buying a house is

hethmar

Its even worse when you are on to the next house and have a chain going up and going down. This is the easiest sort - no one buying from you and the place you are buying is empty. Make the most of it

Try to relax and def dont try to gazunder - they are just as likely to tell you where to get off. All you can do is make sure your purchase runs as quickly and smoothly as you can. Keep in touch with the estate agent and your solicitor and move things along with the mortgage provider.