Is this good progress when buying a repo?

pawpurrs

Hmmm tricky, they need to be seen to get the best offer but thats not much more and there is a chain involved so more can go wrong. On the downside you have only just agreed your offer so its not like you are ready to exchange.

woody252506

pawpurrs wrote: »

Hmmm tricky, they need to be seen to get the best offer but thats not much more and there is a chain involved so more can go wrong. On the downside you have only just agreed your offer so its not like you are ready to exchange.

Thanks for that.

Hopefully we will hear something today/tomorrow! Everything I can cross is crossed!!!:rolleyes:

woody252506

Update!

The lady who is from our lender (Natwest) called today to confirm we had our mortgage lend approved.

Aparantly the woman at the EA dealing with the sale wasnt in today as our lender called to get the survey done today as she knew the situation about a counter offer coming in! Therefore the offer from the other people cant have been put forward yet as the EA informed us on Saturday that she wouldnt be doing it then either. The people buying their house havent had a survey done yet either we have found out.

Our lender advised she would do the same again first thing in the morning in order the get the survey done tomorrow with the EA.

I am hoping this is another step in the right direction in terms of the company selling the house realising that we are very close to exchanging in the next week or so and thus sticking with us. Would I be right in thinking this?!?!:eek:

AMD1981

Hi. Just a quick warning. I had someone put in an offer on the repo I was buying 1.5 days before I was due to exchange. They only offered £2k more than me and only had an agreement in principle. The seller decided to go with them because it was more than me even though I was due to exchange. After initially refusing to put in anymore I went in and matched the offer the next day and I got the house.

Just be prepared to hear bad news, they have to be seen to be getting the best price possible, and be prepared to match the offer if you can!!

Oh and don't be scared about nagging your solicitor/conveyancer, I was ready to exchange within 11 days!! They can do it!! Just make them aware of the situation! You are paying them after all!!

I wish you all the best and keep my fingers crossed for you.

woody252506

AMD1981 wrote: »

Hi. Just a quick warning. I had someone put in an offer on the repo I was buying 1.5 days before I was due to exchange. They only offered £2k more than me and only had an agreement in principle. The seller decided to go with them because it was more than me even though I was due to exchange. After initially refusing to put in anymore I went in and matched the offer the next day and I got the house.

Just be prepared to hear bad news, they have to be seen to be getting the best price possible, and be prepared to match the offer if you can!!

Oh and don't be scared about nagging your solicitor/conveyancer, I was ready to exchange within 11 days!! They can do it!! Just make them aware of the situation! You are paying them after all!!

I wish you all the best and keep my fingers crossed for you.

Thanks for the AMD.

We have not heard anything yet since Sat from the EA and are preparing for the worst until everything is signed and sealed.

One positive is the EA said to us that they were very much on our side and pushing how good a position we are in to the sellers. Its a bit wierd that they havent called by now to say whether the other offer has been accepted or not. When ours was we knew within a couple of hours :rolleyes:

AMD1981

woody252506 wrote: »

Thanks for the AMD.

We have not heard anything yet since Sat from the EA and are preparing for the worst until everything is signed and sealed.

One positive is the EA said to us that they were very much on our side and pushing how good a position we are in to the sellers. Its a bit wierd that they havent called by now to say whether the other offer has been accepted or not. When ours was we knew within a couple of hours :rolleyes:

Thats what the EA I was using did as well. Seemed to do the trick in the end! I actually found out on the way to the solicitors that they were going to go with me. She told them it had to go to me as I was ready!

Please keep us updated with your progress, fingers crossed!!