Too much uncertainty in house buying

bankersmug

I have accepted an offer for my house. The agent I am buying my house through still hasn't taken the house off the market even though my mortgage is agreed and I'm putting down a 30% deposit. There is no upward chain. I think it's owned by a property developer but I'm not completely sure.

This Estate Agent happens to know that the end wall of my house was underpinned (making it more solid than it ever was according to every builder and surveyor I have spoken with) many years ago, but seems to think for this reason my buyers will automatically pull out when they get their survey done. The structural survey I had done on the property when I bought it didn't even notice it and I have lived in it for 6 years

My insurance company will continue insuring the house with the new owners, and if they get nervous about buying, I am quite happy to knock something off the sale price to cover say 5 years of insurance (since it is a bit more expensive).

Basically I would love the vendor to take it off the market - I don't feel secure about paying solicitors and surveyors to act on a property which is still for sale.

Please, opinions, reassurances, ideas, any input would be welcome.

david29dpo

simply make it a condition that your offer includes taking it off the market. if not, walk.

Jay1b

They are trying to have their cake and eat it too. "Well we're stick with him unless someone better comes along"... Now you may expect that of a cat, but cats dont cost mega money...

Jorgan_2

Try & find out why the vendor won't remove it from the market, he may have a valid reason. If the agent is so sure your buyer is going to pull out when they find out about the underpinning, why doesn't he explain to them the situation, or better, arrange a meeting with you & the buyer. You can then explain the situation to the buyer, showing them the old survey report. Many people do not understand underpinning, they hear the word, panic & withdraw their offer.

bankersmug

Jorgan wrote:

Try & find out why the vendor won't remove it from the market, he may have a valid reason. If the agent is so sure your buyer is going to pull out when they find out about the underpinning, why doesn't he explain to them the situation, or better, arrange a meeting with you & the buyer. You can then explain the situation to the buyer, showing them the old survey report. Many people do not understand underpinning, they hear the word, panic & withdraw their offer.

God I hope they don't!

The vendor has taken the property off the market, I have now ordered my survey and my buyer has shown proof of mortgage. I've filled out the sellers information form and the fixtures and fittings form too, and initiated the searches so at least we are a couple of steps forward.