How long should we wait for buyers

dianah

new_home_owner wrote: »

Anyway dont forget to report back, and hopefully this time in two months you will in your own home...

they are indeed doing the valuation tomorrow. so if all ok, i should have the mortgage offer by the weekend (the mortgage has already been approved but obviously, subject to valuation) - then see how long the legal side is gonna take. :j

as i said before, the finance legislation on the island is different to the uk so perhaps that's why the speed's a bit different.

PottyHouse_2

minikem wrote: »

Thanks everyone for their responses. I agree it doesn't look good.
Our EA assured us that they had gone through their finances with them in detail, particularly bearing in mind what happened with our first buyer. They say they are sure they want to buy the house but that it is just first direct being extremely slow and that the buyer doesn't know what more he can do.

Part of me thinks, be patient, the other part of me thinks I will feel like a bit of an idiot if I am still sat here in 2 months.

If I say to them that I will sell to them if they sort out their mortgage but I am going to put it back on the market in the meantime what problems will that cause me. Will the EA actually bother to market it when they know a sale is in progress. Will anyone actually want to view it knowing that someone else is, sort of, proceeding with it. I would feel quite bad if someone else offered and incurred costs and then the 1st lot did manage to get their mortgage.

My husband also suggested that we charge them £250 per week for every week they delay. Has anyone ever heard of this being done in practise?

Hi again Minikem,

You still only have their word that they are proceeding with First Direct - 7 weeks is a hell of a long time to wait to have a survey done on your home for them to obtain their mortgage.

Having been through this sort of scenario myself I would have no guilt at all putting my home back on the market - you have to do what is right for you, not your Buyers !!!

As soon as they get back to you with either a date for survey or something more concrete then you can take your house of the market - I'm staggered that your EA is still defending them and their actions - after 3 weeks of a similar situation our EA encouraged us to go back on the market - turns out our Buyer's Buyer had pulled out and they were stringing us along ..... that was 3 weeks ago (we sold again within 2 days of going back on the market !!!!).

Not sure about charging them !!! - no-one is legally obliged to pay for anything like that until exchange I think (apart from legal costs, surveys etc) - you should be aware you can pull out at any time until Exchange and so can they !!!!

Good luck whatever you decide to do !