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Update: 7 day window
Comments
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It's now over the original asking price and still not agreed.This is worrying!
Is yours a bargain price?
I was under the impression that that's up to the discretion of the seller to publish another 7 day notice . Your seller obviously wants as mych as !!!!ible
The seller has to get the best possible price they can, at the end of the day some poor soul has lost there house so they need to get back as much as possible for them and themselves.0 -
It's now over the original asking price and still not agreed.
The seller has to get the best possible price they can, at the end of the day some poor soul has lost there house so they need to get back as much as possible for them and themselves.
Have you had your survey and searches done?0 -
We are not having a survey done, the house has been checked by ourselves and builder friend but due to the age (only 10 years old) it should be fine.Have you had your survey and searches done?
All the searches were back 2 weeks ago, just waiting for the valuation by the mortgage company to be arranged now.0 -
We are not having a survey done, the house has been checked by ourselves and builder friend but due to the age (only 10 years old) it should be fine.
All the searches were back 2 weeks ago, just waiting for the valuation by the mortgage company to be arranged now.
Ok. Keep me posted0 -
Sometimes true but not usually.Yes, once a higher offer is submited the 28 day process starts again, with another 7 day notice.
More commonly, the first accepted offer is advertised and Exchange cannot take place for until 7 days after the advert.
Subsequent offers are not advertised. The point of the advert is to prove (if in the future they are questioned) that they made reasonable efforts to get the best price. Having advertised and advertised inviting further offers, it is assumed they have acheived that goal, so will not re-advertise.
But as previously stated, there are no hard and fast rules, and each bank or Official Receiver etc will follow there own procedures, or even amend there procedures according to specific circumstances.
The only rule for the prospective buyer is to Exchange asap.0 -
With each offer we or the other interested party increase they advertise stating the offer and the process starts again. 7 day notice and 28 day deadline, it's getting stupid now. I even offered substantially higher if they took our offer and didn't advertise again but they said no.Sometimes true but not usually.
More commonly, the first accepted offer is advertised and Exchange cannot take place for until 7 days after the advert.
Subsequent offers are not advertised. The point of the advert is to prove (if in the future they are questioned) that they made reasonable efforts to get the best price. Having advertised and advertised inviting further offers, it is assumed they have acheived that goal, so will not re-advertise.
But as previously stated, there are no hard and fast rules, and each bank or Official Receiver etc will follow there own procedures, or even amend there procedures according to specific circumstances.
The only rule for the prospective buyer is to Exchange asap.0 -
It's all to stressful. I just hope we are incredibly lucky0
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Just called the mortgage company and they have requested more details about our deposit, I questioned her and she answered the request her self once she looked at the file....aggrrrr :mad:
I asked if it now needs to go back to the underwriters for another 48 hours and was told yes. At that point I told them of my service dissatisfaction and requested to speak to a senior manager...and there wasn't one available.
Just been called back, no managers available, details faxed to the underwriters and we should know by 16:30.0 -
Good luck and let me know0
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Had a call back and still no update until Monday, I requested a manager call me back before 5pm before I take out an official complaint.
Any guess who the bank is?0
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