Sold, then back on the market

PasturesNew

A house 4 doors along from me went up for sale recently, then the board said sold... and now, it's for sale again. The sale fell through, but the agent was keen to brag that they are an agent who can sell houses.

typeractive

The house I'm after has fell through twice that I know of. Initially I was after the house around just after Christmas this year. I missed out on it just! I specifically told the EA to bear me in mind over anyone else if the property came back onto the market....they didn't. I happened to spot the property for sale when driving past one day.

Naturally I called them, to hear that the sale was falling through, BUT someone else had put an offer in (even though I was told previously I could not offer - ridiculous) - you can imagine how much I was hating the EA right now. This other offer was now accepted, and I was still not allowed to make an offer....though I was allowed to actually view the property - just not make an offer.

Sickened by the tactics of the agent I contacted the vendor directly. This proved to be much more helpful. The first sale failed on survey, the second fell through on the buyer demanding work to be carried out -though the property is reduced to represent the work needed.

So then I stepped in. I negotiated prices directly with the vendor and we are communicating well. The EA is just a formality - upon the first viewing with the EA, I knew more about the history of the property - they were also dressed as if they were off shopping for the afternoon - far from a reassuring knowledge of area or property.

As posted before signs have been up and down like yoyo's. At the moment the one I am in the process of buying (same property I have just been talking about) has the sold sign on one side of the board and for sale on the other - what a fantastic EA. It has been removed from all adverts though. needless to say I will be sourcing a MUCH more competent EA when it comes to any representation on my behalf.

littlemissfrugal

trumpton wrote: »

Buyer could have withdrawn for many reasons - mortgage fell through, bad survey, or just changed their mind. Some EA's don't put sold sign up until after survey, whereas others jump the gun. I always think it looks bad if houses are 'sold' then back on RM as unsold - makes me think there's something wrong with them.

our buyer "decided" to miss a couple of payments on his secured loan just prior to exchange hence a late credit search by the mortgage company showed him to be a risk and they withdrew their offer - he has had to re-finance but obviously from our point of view that is not guaranteed so we decided to go back on the market till he can prove he has the means to purchase. Bearing in mind that we accepted his offer at the end of March I think we have been more than generous with timescales - as our vendor has thankfully been with us

Nitha

From what I've heard tons of sales are falling through as it's so damn hard to get a mortgage at the moment. A friend of mine is struggling with a 10% deposit.

littlemissfrugal

Nitha wrote: »

From what I've heard tons of sales are falling through as it's so damn hard to get a mortgage at the moment. A friend of mine is struggling with a 10% deposit.

which makes it all the more mind boggling why our buyer decided to mess around with his loan payments so close to exchange especially when you know that he needs 2 mortgages to buy our house anyway.

I guess some folks are too stupid to realise the days of easy credit have gone and that you need to be squeaky clean to get anywhere - and even then you are at the mercy of the financial houses and which way the wind is blowing