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Trouble with Mortgage
giddypenguin
Posts: 808 Forumite
The person who has made an offer on our house (which is meant to exchange on Wednesday) seems to be having trouble getting a mortgage valuation done - it's been about 4 weeks now and nothing has been done. EA keeps saying that the buyer won't pick up the phone (or at least that's what they are telling us). Is it time to be realistic and face up to the fact that this person is a bit of a time waster?
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Comments
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giddypenguin wrote: »The person who has made an offer on our house (which is meant to exchange on Wednesday) seems to be having trouble getting a mortgage valuation done - it's been about 4 weeks now and nothing has been done. EA keeps saying that the buyer won't pick up the phone (or at least that's what they are telling us). Is it time to be realistic and face up to the fact that this person is a bit of a time waster?
Yes. If they haven't had a valuation done yet then they couldn't have had an official mortgage offer, therefore even if they were serious you are still a while off being able to exchange.
I would put the house back on the market (if it was taken off) and look for a new buyer.
When we sold our house it was kept on the market until the buyer had a mortgage valuation booked.0 -
Forget the EA; if you are due to exchange Wed your solicitor will be dealing with their solicitor. Ask you solicitor what is going on.
Some mortgage companies do "drive buy" valuations so it *might* not be an issue, but to be honest it doesn't look too promising.0 -
Thanks, the solicitor says everything is up together apart from the mortgage - seems they left it until last?? Just so angry, this was supposed to be quick and easy (at point of offer we were told they were a cash buyer) and I can see this ending in us loosing another heap of money.0
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giddypenguin wrote: »Thanks, the solicitor says everything is up together apart from the mortgage - seems they left it until last?? Just so angry, this was supposed to be quick and easy (at point of offer we were told they were a cash buyer) and I can see this ending in us loosing another heap of money.
I would be asking the EA what evidence the buyer provided to prove they had the funds to buy your property without recourse to borrowing."You were only supposed to blow the bl**dy doors off!!"0
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