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FTB Need Suggestion
rosenewhome
Posts: 3 Newbie
Hi,
We are FTB and have agreed on a property in Dec 2012. Got the mortgage offer approved with a retention of 4k on property and requested for negotiation of 4k with the EA. Because of Christmas vacation EA has not got back to us and still he is saying that no response from the vendor and looks like vendor is not serious on selling the property.
We have invested our time and money for survey etc and I am somehow feeling that EA is not properly handling the case with vendor for negotiation and he is just dragging it considering the urgency of us for completion. We have instructed our solicitors and all searches was done. We are just waiting for negotiation of price and to exchange of contracts so that we can move in end of Jan 2012.
Can anyone suggest how to deal with EA in such situations?
We are FTB and have agreed on a property in Dec 2012. Got the mortgage offer approved with a retention of 4k on property and requested for negotiation of 4k with the EA. Because of Christmas vacation EA has not got back to us and still he is saying that no response from the vendor and looks like vendor is not serious on selling the property.
We have invested our time and money for survey etc and I am somehow feeling that EA is not properly handling the case with vendor for negotiation and he is just dragging it considering the urgency of us for completion. We have instructed our solicitors and all searches was done. We are just waiting for negotiation of price and to exchange of contracts so that we can move in end of Jan 2012.
Can anyone suggest how to deal with EA in such situations?
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Comments
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What makes you think the ea is dragging his heels? He has a vested interest in getting the house sold as quickly as possible as it's only on completion that he will earn any commission from the sale.
Because of the Christmas and new year break, no doubt the vendor has had other things on his/her mind.
To offer on a property in Dec. then need to do more negotiating because of a rentention and expect to be in the property by the end of January is pretty unrealistic and I'm surprised your solicitor hasn't counselled you on this point.The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0 -
Average purchase takes 3 months. Some EAs were shut over Christmas and New Year. One I was trying to reach to view a house was shut for over a week!
Solicitors were also likely to have been shut.
Why is it so urgent?
I would be anticipating Feb or March for a completion date! January is highly unrealistic. Chances are, wheels are in motion. Discuss with your solicitor.
Jx2024 wins: *must start comping again!*0 -
When I bought my first home it took 8 weeks even though the deposit and mortgage were already in place. I know it's frustrating (I think I'll be tearing my hair out this time) but unfortunately solicitors and searches tend to delay things no matter how good your position is.0
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Have you got the cash to increase your deposit to bridge the retention?rosenewhome wrote: »the mortgage offer approved with a retention of 4k on property and requested for negotiation of 4k with the EAI am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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