Would you ask for proof?

daisyrose

We have received another offer on our house and have been told that "their mortgage is in place but as we know anything can happen"
To avoid further problems would it be acceptable to ask for written proof of the mortgage before accepting an offer. Probably not the way to go but it is a long story.The current buyers want us to take the house off the market and allow no further viewings.
We don't want to lose a buyer but we have been here before and unfortunatly we no longer have any trust in our agent.

USM

As a buyer I wouldn't be comfortable talking about my financial position until my offer is accepted and the property is off the market.

daisyrose

Thank you neither would I want to share my information. Nor would I feel confortable asking for proof. I wouldn't want to know anything financial only written confirmation that a mortgage is in place. My agent has checked with their mortgage advisor but I have reasons for not trusting my agent. I don't know what else I can do.

GAH

If you have dis-trust with your agent, maybe its better speaking with the buyers directly.

devotee

Of course the buyer wants you to take the property off the market, why is this unusual?

And what kind of proof do you want to see and what will you do with the proof if the sale does not proceed? The buyer MAY have a agreement in principle but really that's not a full mortgage as in order for that to happen, the buyer must find a property and the bank has to value that said property and issue the mortgage.
So, the credit check was not done and the surveyor has not valued your property.

What if the bank's survey comes up lower than the price you agreed? Your buyer can drop out, so what's the use of the proof you've had in writing?

You are not immune from problems when selling, it's stressful, but if you want to sell, well deal with it.

daisyrose

I can't speak to the buyers as it's only an offer at the moment I have no way of knowing any contact details. I would have no problem with taking the house off the market and do not want to ask anything from the buyers but thank you devotee for explaining the process which I didn't fully understand.
My problem is not with the person/s who have made the offer it is with the agent and past experience with the agent.

devotee

Why not change the agent then? Though, if you do decide to go with that buyer, you'll still have to pay them commission on completion.
The agent can and should be helpful during the selling process. It's in their interest for sale to complete.

DVardysShadow

daisyrose wrote: »

My problem is not with the person/s who have made the offer it is with the agent and past experience with the agent.

You should have changed your agent when the problems became apparent.

About the best you can do now is agree to take the property off the market once a survey appointment is made, subject to their solicitor confirming funds to yours. Ask your solicitor to write to theirs for confirmation of funds. The buyer's solictor may umm and ahh, but they should be pressed to write the truth - eg 'the agreed price is covered by savings, proceeds of sale and a mortgage in principle, all of which we have seen evidence of' would be as good as you would expect to get.

daisyrose

We are in the process of changing agents gave notice as required then the agent booked viewings and we went along with it not really expecting an offer.
If we accept the offer we don't want to be rushed into buying anything. Though our agent told us this is o.k if it is a first time buyer I would expect them to want to buy before 24th March.
I also want to avoid more costs from solicitors so would want to delay instructing a solicitor until we find somewhere and are ready.

AdmiralX

daisyrose wrote: »

We have received another offer on our house and have been told that "their mortgage is in place but as we know anything can happen"

Has a surveyor been yet?
There is no way of knowing whether all is fine before the surveyor comes to see your property. When the surveyor (of mortgagee) comes you may ask him only about your property what he thinks, that is whether price is OK or in need of spending; he is the most reliable source. He may tell you or may not. They always told me when my property was for sale. He is not supposed to tell you the position of the buyer. That you will find later. Some vendors have to renegotiate their price.
Even if your price is Ok you still have to wait to see if the buyer is in a position after all checks.

Yorkie1

daisyrose wrote: »

We are in the process of changing agents gave notice as required then the agent booked viewings and we went along with it not really expecting an offer.
If we accept the offer we don't want to be rushed into buying anything. Though our agent told us this is o.k if it is a first time buyer I would expect them to want to buy before 24th March.
I also want to avoid more costs from solicitors so would want to delay instructing a solicitor until we find somewhere and are ready.

I expect they would want to buy before 24th March, but that's less than 7 weeks away now and it's not going to happen.