does the vendor want to sell or what?

just_wanna_move

Hi all
Am currently looking for a flat and very keen to move as am renting at the mo and it's killing me. Mortgage in principle in place, large deposit in the bank (about 80% of purchase price), solicitor lined up so ready to roll and think that makes me an attractive buyer. Budget is 250 max for 2 bed in East London.

Found the perfect flat, made an offer but it's on with multiple EAs and turns out it was already under offer with another EA. Fair dues - then my EA calls up a few days later saying that offer fell thru and vendor is happy to take my offer if I'm willing to move quickly. Well, yeah, I need to for my purposes. So all fine but then, when EA calls vendor back to say let's proceed, he can't get in touch with him. Guy doesn't answer his phone or return calls for 3 days now. Vendor is a property developer with a bunch of refurbs around London and lists with multiple EAs all the time so I'm wondering if he went back to the original deal or got another offer or simply can't be bothered as he has so many.

So have continued to look, as don't feel confident about this guy even though that is the flat I would prefer. Found a new build that I also like, at the top end of my budget. Spoke with that EA (different one) who was supposed to send over details, etc. and have heard nothing, again for 2 days.

Has anyone experienced this lackadaisical attitude with EA's? Many don't seem to be bothered. In fairness, the EA working with the flat I want has been a star. The rest seem so uninterested. Really nerve wracking and frustrating.

Am I missing something here? Do these vendors want to sell or what?

Thanks for any advice and sorry for the rant.:eek:

motherofstudents

I think it's human nature to want to sort these things out as quickly as possible. To you it's a major life changing investment but estate agents are dealing with these things all the time. The guy who's selling lots of property is probably used to the buying and selling process moving slowly so he's not too bothered he knows he'll get there in the end. I can certainly sympathise with you but if you can try to chill a little bit you will avoid getting too stressed. When you move in to your new home it won't seem as bad as it does when you are going through the process. I have to say I am always shocked at prices in London - £250k for a flat:eek:

seabright

Maybe the vendor of the flat you want is away on holiday?

just_wanna_move

Mother of students - thanks, yes, I agree the stress will evaporate once this is done. It's just the 'getting it done' that is driving me a bit round the bend. Trying to stay calm... LOL! Concerned there is a bit of game playing going on, but who knows?

Sea - yes, that's possible as the guy appears to travel a lot. But he was the one that was all, 'rush, rush, rush' and initially wanted an 'attended exchange' so since it's all gone quiet I don't know what to think.

Guess I'll have to just wait and see. Meanwhile still searching for flats, as until a deal is agreed I'm not comfortable putting all my eggs in this particular basket. Do want the flat though, and would be prepared to move as quickly as poss in order to secure it.

And yes, prices in London are horrific - can't believe an ex LA crap tower block can go for 250!!! But... location, location I guess. :think:

Also, is it just me or do others think there should be more regulation when it comes to gazumping, etc.? I just feel that if you are willing to pay for a survey, etc., that should be enough to get the property off the market, at least for an agreed period of time, and have some sort of agreement. Trouble is, if someone advertises with multiple agents they don't exactly communicate, do they. So you could be looking at a property that already is at the point of exchange and wouldn't even know it. :mad:

All very frustrating....

Thanks all!

Fire_Fox

Buying a leasehold flat often takes months, your solicitor will have to make enquiries of the the other party's solicitor, who will have to make enquiries of the management company or freeholder, who are traditionally slow to respond. If you need to move don't buy a leasehold flat.