How does someone buy a house when in a chain? All the agents want chain free

clockworks_2

pinkshoes wrote: »

If you sell first, THEN you find somewhere to live, and the exchange date will be when everyone is ready to move.

You would only be chain free if you sold your flat, completed, moved into rented, and THEN bought another house.

I'm not sure you are in a position to say that the agent has mucked you around when you have LIED about your position. I sold my flat to a chain free buyer, and accepted a lower price because of this. If I'd then found out that he'd had a property to sell first, I would have been furious!

With no offer on your property, you are not in a position to buy.

Read my other thread and you will see the agent has mucked me about.

clockworks_2

mrginge wrote: »

Unlike your good self of course, who has acted impeccably throughout.

Again read my other thread

Excited13

clockworks wrote: »

The agent hasn't been great so far and mucked me around , I am hoping the fact that the seller is a probate property will work in my favour as they may not be in a rush to sell.

Probate will mean they want things sorted quicker and they will not be happy hanging on especially during an extremely stressful time. You need to tell the estate agent as it's not fair on the sellers. How would you like it if someone did that with your flat? Realisitically can you sell the flat quickly? I know where I live flats don't seem to be moving at all.

Padstow

cte1111 wrote: »

I'm selling a probate property, I am certainly keen to sell as soon as possible. I'm having to pay bills on a property that is empty and I have never lived in.

I'm sure lots of us look around at prospective properties, whilst ours are up for sale. Then, when you receive an offer on your home, you know which house(s) you would like to offer on. What isn't on, is to mislead everyone and say that you don't need to sell yours, when you do.

I can understand how it has happened, as you were looking at other houses for which you wouldn't need to sell yours. Would you be able to complete on the refurbishment property, then not move in until yours has sold and you could afford to start the work? If not, then you need to let the vendor know.

What bills? No CT, no utilities. Mortgage paid by estate. Reduce to sell fast.

OP in my opinion is not able to renovate a property at present.
I built from the foundations up, but I'd spent a lot of time swotting up as to how, from much research and visits to self build shows etc. OP doesn't even understand the rudimentaries of selling/buying.

We all have our strengths/weeknesess. My strength was managing trades, the rental game has done me over however.

clockworks_2

Just to explain the situation to some of those.

I was happy to buy a place - and had enough saved up as a deposit.

I would then convert my current flat to a buy to let.

I found this place which is more than I expected to spend- which is great has a lot of potential- however I need to raise my funds for it. Hence I would need to sell my flat to raise the money for the refurb costs. Also by converting my flat to buy to let- wouldn't release enough money to buy this and then wait to sell the flat to release the funds to refurb the new place

cte1111

Padstow wrote: »

What bills? No CT, no utilities. Mortgage paid by estate. Reduce to sell fast.

Council tax is only nil for 6 months after probate, after that it's the full amount. I also have to pay the service charge for the flat and the ground rent. The flat is priced competitively and was under offer, but the buyers weren't able to get a mortgage.

Old_Git

how long would it take to sell your flat .
You need to speak to the agent and tell them where you are .
The vendor may decide to wait ,you dont know .

clockworks_2

Flats in my block are priced at £250k I think if i wanted to get rid of mine ASAP - I could sell it for £225k just to ensure a sale.

It's a pretty popular area and very well located.

A friend's brother ( mentioned it in passing) has been to view my flat, and called me today for a second viewing. So fingers crossed it should be ok.

Worst case I can get a loan from family and just convert this flat to a buy to let.

mrginge

clockworks wrote: »

Just to explain the situation to some of those.

I was happy to buy a place - and had enough saved up as a deposit.

I would then convert my current flat to a buy to let.

I found this place which is more than I expected to spend- which is great has a lot of potential- however I need to raise my funds for it. Hence I would need to sell my flat to raise the money for the refurb costs. Also by converting my flat to buy to let- wouldn't release enough money to buy this and then wait to sell the flat to release the funds to refurb the new place

Sounds to me like you want something you can't afford. How do you expect the vendor to react when he finds out you've lied to them? Think I'd tell you to do one.

clockworks_2

Steady on, my situation has changed for this property in particular.

Will speak to my mortgage broker tomorrow about converting my current flat to a buy to let and then a small loan will then see me fine. Until I sell my flat or keep it.