To those BUYING in these difficult times....

satchmeister

milliebear00001 wrote: »

Still waiting for searches. Reviewed today and have a case of buyer's remorse - why are houses never like you remember them!? OOur sellers have a boundary issue that they are saying is minor. Top of the chain have a 'probate' issue, which may or may not be serious - fab!

Anyone have any views on whether I can/should pressure my seller to exchange with us while they wait for the rest of the chain? We NEED to move and our mortgage offer expires at the end of Dec...

If you exchange then you are clear, your seller might not be as the upper chain may fall apart. If I was you I would pressure your seller to exchange (dec etc) and if I was your seller I would not exchange .. but your seller may decide to take the risk because you may also pull out.

caeler

Grimbal wrote: »

thanks guys, much appreciated. Well, hubby ended up calling the EAs to confirm verbally, and they pulled out all the old tricks.

I agree with the others, you've acted reasonably. Things happen for a reason.

Tr1pp

Hey guys, thought i would put my experience into the pot.

me and my gf have been looking for a place for a while but started putting offers on properties recentley.

were looking in the sidcup area of kent so really our budget only extends to 2 bed flats (slightly depressing as i read about so many people on here getting houses at this price range outside of london area...oh well)

So it was mentioned earlier but i think its worth mentioning again. EA's seem so disinterested in anything i say other then the offer im putting down. Feels as though my views arent then being put forth to the vendor making them less likely to considder my offers.

Example: I placed offer on a property for 157k (asking 165k after already been reduced by 10k prior) advertised as needing updating. Reality is it needs GUTTING (windows and electrics being the most urgent thing) but when i was pointing this out the EA seemed less than interested. I almost feel that the EA gave a bid and didnt even convey my concerns about how the work needing to be done seems to have been underestimated by the vendors.

more i think about it and the more i read here the more i feel ive already offered too much.

maybe this dissinterest EA's seem to have is linked to having to work with vendors with unrealistic high hopes and unwillingness to see sense.

what do i know though im just a FTB.

will let you know if this offer is accepted

shupufski_2

Grimbal wrote: »

thanks guys, much appreciated. Well, hubby ended up calling the EAs to confirm verbally, and they pulled out all the old tricks.

They tried financial: They asked us if there was anything that would change our mind (presumably money): we said no.
They tried emotional : saying that the vendors "really needed to move": we said "so do we, which is why we gave you that last week to sort your clients out".
They tried desperation (!): They asked us if we were proceeding on anything else, we said as of Monday (today), yes.

So, that's it. We've walked away from a lovely lovely house. It's a real shame, but as you guys have already pointed out, if they're that useless now, what on earth would they be like when time was tight and dependable people were needed?!

Azkaban420: I sympathise: it would be nice to think that if you spend more money, you necessarily get more space! we're going from a 4 bed town house to a 3 bed detached and paying 200K more for the privilege !

Shupufski: thanks for the support. Up until now, it has seemed that they felt like they held all the cards and could dictate terms. They really didn't seem to understand that we were concerned about losing our chain free buyers (who now have been waiting 6 weeks). Even after we had waited 3 weeks, with no action on their part, and given them yet another week, it still didn't seem to get through to them. I don't think for a minute that it's a coincidence that on the day after we withdraw, they suddenly find further funds! As you said, better now than later in the process when we have more invested, both financially & emotionally

It's really refreshing to see buyers taking control of their situation in a rational way. Good luck to you.

shupufski_2

Tr1pp wrote: »

Hey guys, thought i would put my experience into the pot.

me and my gf have been looking for a place for a while but started putting offers on properties recentley.

were looking in the sidcup area of kent so really our budget only extends to 2 bed flats (slightly depressing as i read about so many people on here getting houses at this price range outside of london area...oh well)

So it was mentioned earlier but i think its worth mentioning again. EA's seem so disinterested in anything i say other then the offer im putting down. Feels as though my views arent then being put forth to the vendor making them less likely to considder my offers.

Example: I placed offer on a property for 157k (asking 165k after already been reduced by 10k prior) advertised as needing updating. Reality is it needs GUTTING (windows and electrics being the most urgent thing) but when i was pointing this out the EA seemed less than interested. I almost feel that the EA gave a bid and didnt even convey my concerns about how the work needing to be done seems to have been underestimated by the vendors.

more i think about it and the more i read here the more i feel ive already offered too much.

maybe this dissinterest EA's seem to have is linked to having to work with vendors with unrealistic high hopes and unwillingness to see sense.

what do i know though im just a FTB.

will let you know if this offer is accepted

To be blunt about it - pay no attention to what the EA says and certainly don’t worry about what they think. They have been doing this for years and always have their poker faces on when you make an offer.

The EA's relationship with the house is very short term - i.e. the actual sale transaction alone - and they want to get every penny they can out of it. Your relationship with the property is long term and the amount you spend on the property is a very large part of that relationship.

Act like you don’t care about the flat and make sure that you push hard for a reduction on anything the survey throws up if you feel you have offered too much.

Try to envisage walking away from the deal and it should make it easier when the EA tries to make you feel inferior.

dizziblonde

Update.... STILL waiting for our contract to come in the post... assured it's arriving today.

Anyone got any info on the Post Office mortgages and if they're affected by the Irish financial situation (they're provided by Bank of Ireland) which is worrying me slightly since we should, we've been assured so I don't believe a word of it, be exchanging end of this week/start of next week and completing asap after that assuming vendors agree (doubt they'll disagree tbh)!

sonastin

milliebear00001 wrote: »

Still waiting for searches. Reviewed today and have a case of buyer's remorse - why are houses never like you remember them!? OOur sellers have a boundary issue that they are saying is minor. Top of the chain have a 'probate' issue, which may or may not be serious - fab!

Anyone have any views on whether I can/should pressure my seller to exchange with us while they wait for the rest of the chain? We NEED to move and our mortgage offer expires at the end of Dec...

I'm sure my mortgage offer says I need to complete before the expiry date - if yours is the same, make sure you are pushing for completion before the end of Dec, not just exchange. You could find yourself in a whole world of trouble if you exchange with a completion date after the mortgage expires and then can't get another mortgage! (I'm sure you've thought of that but its worth mentioning just in case, as you haven't mentioned completion in your post )

xtra_time

ARGH! Now the house we are wanting to buy say they cant complete until after christmas (even though the house is empty). Our buyers want in by christmas so we only have the option of moving somewhere else until we can find a new house. This means I lose my large redemption fee on my mortgage too as I cant port it. Not happy.

redstararnie76

Well, after getting excited earlier this week, I should have realised that everything was going too smoothly .
Just rang the solicitor to check that the completion date of next Friday was now all agreed and been told that although our vendors and buyers are all ready to exchange now, they've received a letter from the other solicitors this morning saying that the people that our vendors are buying from (who are supposed to be divorcing and going into rented accommodation) now have a 'related purchase' which is in the early stages. Grrr, soo angry!
I've rung the estate agent (who is also dealing with our vendors' purchase) to see what is going on. She apparently spoke to the lady our vendors are buying from, just yesterday, and assures us that she IS going into rented and has been pushing for an exchange date because she needs it to secure her rental place. I'm really confused now and waiting to hear back from estate agent who is now ringing the other solicitors.
Seriously contemplating pulling out if this is the case, god knows how long it'll take otherwise

dizziblonde

We have the contract!!!!!