so confused what do you think am i going mad

zipwen1

Doozergirl wrote:

They hold you to ransom on moving day when your bags are packed. You either drop the price or they pull out.

I really feel for you. If they really do have a mortgage of this sort, the only way it will happen is exchange and completion on the same day. People with 100% mortgage HAVE to do this because they have no deposit.

It's generally FTBs that have to do this and they are completely genuine. But, it does happen that unscrupulous people manage to get exchange and completion on the same day in order to pull a fast one. I fear you're heading straight into this one

I really would pull out unless you get confirmation of an almost immediate exchange at £68k and completion to suit you. But really, I always want best price - it's setting you up for the future. Don't let someone make money out of you this way.

I'm getting emotional here!

getting more worried about this can they do this even if we dont complete the same day.

guess its another night il be up till six in the morning going over thing in my head i pray for the day i can just close my eyes and not have numbers and conspiracy theories running threw my mind i wish i had stuck with my instincts and pulled out when i smelt a rat:wall:

stolt

i feel for you I really do, I hope it all works out for you. Me and the wife are in a similar situation but were only just starting out on selling our house and its only been a week and I already think our estate agent is making up viewers.... well thats just it no viewers just drive bys.... i live in a little cul de sac, hardly place you can drive by...

listen to the advice on these forums, theres a couple of things i've picked up just reading through this thread and I thought i was pretty savvy!!

silvercar

is the property on a website? post a link to it on here. people will soon comment on whether they think it is at a reasonable price.

maninthestreet

Remind the EA that he is working for you, not the buyer, and that if this sale falls through, you will market the property with another EA.
Also, make sure the EA (and your buyer) are aware of the recent new legislation regarding fraud, the 2006 Fraud Act. This introduces the new offence of fraud, and a person can be guilty of this by failure to disclose information, false representation or abuse of position. It seems that either your agent or buyer, or both, may be very close to breaking this law (particularly Section 4, "Abuse of Position"):

http://www.opsi.gov.uk/acts/acts2006/60035--a.htm#3

zipwen1

silvercar wrote:

is the property on a website? post a link to it on here. people will soon comment on whether they think it is at a reasonable price.

dont know how to post a link but i know from looking on the net that my neighbours house sold for 75 in 2005 and its exactly the same apart from decor and ours has a larger kitchen. other houses have sold for 75-74 in 05 but dont know what they are like inside. i have put the house on houseladder it is in county durham darlington and is on at 75

maninthestreet

If your postcode is DL12HN, one other terraced house sold for 74K at the end of 2005.

zipwen1

maninthestreet wrote:

If your postcode is DL12HN, one other terraced house sold for 74K at the end of 2005.

yeah thats correct

Doozergirl

Your house looks great! Kitchen is lovely, the other rooms are a perfect canvas for someone to move stright into. I think that unless prices have fallen where you are that your house must be worth the same as your neighbour and that you'd probably get that price pretty quickly as prices are more likely to have risen slightly.

It's only exchange and completion on the same day where he can actually hold you to ransom. Once you've exchanged, the price is set in stone. You need breathing space of even a day so that your bags are not sitting in the removal van waiting to move when he refuses to exchange unless you drop the price.

zipwen1

my EA has just told me that the advance of 76000 could mean the valuation for insurance purposes she said shes not sure though because she hasn't got a copy anymore, they have lost it, and the electrician has taken ours so i dont even have a copy to comment on anymore
have tried to speak to sol but got the secretory instead she told me that MR x could still pull out if we complete on a different day to exchange so could still try and get us down on price. trouble is if he dose do this we dont have any money to accept a lower price and so would have to pull out all together. would we have to pay sellers costs if this happened

silvercar

once exchanged there are financial penalties for pulling out, though it could in theory happen. In practice if Mr X is out to cut the price he will do it minutes before exchange.