Frustration - House selling.... Rant

bandofbrothers

Hi all,

Just want a rant !

I think it must be just my bad luck,

But why ,

Do some buyers look on the internet to look for a house, make contact with the ea, and arrange a viewing......then make an offer..... without..........

Having a solicitor in mind.

Speaking to a financial advisor or their bank about a mortgage to see if they can get one.

Have the deposit required.

House selling & buying is stressful enough with out people not being prepared.

Rant over !


Before i get shot down :rotfl:I know its not the general picture out there so it must just be me and my luck...lol.....:j

Cannon_Fodder

Deposit? What's that ?

bandofbrothers

Cannon_Fodder wrote: »

Deposit? What's that ?

Indeed !

So my possible buyer starts taking about a vendors gifted deposit !

I agree to keep the cogs turning.

So they then sack their financial advisor, and now go back to their bank to look at mortgages.

Little deposit = little commitment .......:mad:

Im glad I decided to keep it on the housing market ! :T

Henry_P_Chester

Little deposit means no chance of getting a mortgage!

JQ.

bandofbrothers wrote: »

So my possible buyer starts taking about a vendors gifted deposit !

So are there any banks that will accept such a con, I certainly hope not?! They seem to have been mentioned quite a few times on this forum over the past few weeks. I just can't believe we're back to the bad old days already.

<sebb>

I thought that estate agents were meant to check these things before arranging a viewing. I know when I was looking, I had to give all sorts of details about my mortgage application and the deposit I had before they would let me view a property. Perhaps you should have a word with your EA?

bandofbrothers

My ea will allow viewings etc but will not take the property off the market until the buyer shows proof of funds or have had a chat with their financial advisor or bank.

Hence, yes offers can be made and accepted but until posative move towards buying the property have been made its just talk.

The property im selling is vacant and their is no mortgage, nor am i selling to move.
Pretty strong position really.

Its just a little frustrating when the other party have done no homework at all !

sonastin

I had myself a "cash buyer" - supposedly money in the bank, might be penalised on the interest by withdrawing it early so can't up the offer, etc etc.

10 days later the cash buyer "really really would like to buy it but is just not in a position to proceed" spent all day trying to get it sorted but can't go ahead

How do you find yourself unable to go ahead unless the money sitting in your bank account isn't really your money (or your account?!)? How can you not have this checked and sorted before you start putting offers in on someone else's?

And the things that's annoyed me most is its put me into the position where I get someone else's hopes up that their house is sold and then have to break the news that I can no longer proceed - I hate doing it to someone else even more than I hate having it done to me!!

poppysarah

Without hips to weed out the people just testing the market I think house buying is going to be more annoying too.

LittleMissAspie

<sebb> wrote: »

I thought that estate agents were meant to check these things before arranging a viewing. I know when I was looking, I had to give all sorts of details about my mortgage application and the deposit I had before they would let me view a property. Perhaps you should have a word with your EA?

Having viewed some 20 houses with 7+ different agents, not a single agent asked us for proof of anything before a viewing. Just our name and occasionally our address. Some asked us if we had anything to sell, I guess to gauge whether we were in a chain... or maybe just to get more business!

As it happens we had our solicitor and mortgage sorted months ago, but that didn't stop them trying to sell us their mortgage services. We had to repeat over and over "No thanks we already have a mortgage that we're happy with. Yes we are sure, thank you".

I would never give my deposit details or financial info to an estate agent. If they know your situation they'll use it to twist more money out of you.

wessexw

I agree, I viewed lots of properties with different estate agents and none of them asked me anything about my financial situation. When I did finally find a place I liked and put and offer on, the EA just asked me what % deposit I had and who my chosen lender was but no proof of anything at all. I could have been lying through my teeth for all he knew!