Is it possible to complete on a house in 24 days

claireizadiamond

Hi there,

You will have to excuse me for lack of knowledge about this. Basically we are FTB have been saving for near 3 years and looked around a few houses, then we (naughtily) set our hearts on one.

It is up for £104,950 we offered £92,000 expecting this to get rejected which it did, then we offered £96,000 which also got rejected. We then made a final offer of £98,000 and made it clear to the EA that this was our final offer and after this we would be walking away.

When we met the vendor he told us how he was a Christian man and that what he would tell us was all truth and that he had bought the house to live in as well as another house. His wife and children live in the other house and he was going to live with them.

Now today I made contact with the EA as she had left a voicemail, the EA announced that the vendor had an offer from a cash buyer which was slightly above ours however the vendor needs to complete by 30th April (2013) and the cash buyer is unable to do this. I informed the estate agent that we had a quote from a solicitor and that we had budgeted for that, the EA said she would speak to them and see if it was possible to complete in this time. If not the vendor is putting the property up for rent.

At the moment I am wondering, is it possible to complete in such a short time? Also as to whether the vendor will pull out if we don't complete in time. Obviously we will push our side as much as possible, however after that it is out of our control.

I will kick myself forever for investing so much emotion into a property when I said I wouldn't.

theartfullodger

Ignore religious propaganda. It would make me most suspicious.

You can complete in hours.

Kayalana99

Sounds fishy to me when people say I tell no lies I usally assume thier hiding something - Why such a quick moving date? So he wants to rent it out is he advertising this? Depends on area and price how long it will take to get someone in thier.

Once our mortage had been 'offically' approved it all got done within a week (more probally 2 weeks because WE agreed on a moving date futher away then needed to allow her to move)

I think if your mortage is ready to go you should have no problem.

claireizadiamond

Thanks for the replies so far, at the moment we only have a mortgage in principle. So I think the thing that would delay would be waiting for the mortgage offer to come through.

I am just so on edge that we will be mid way through the process and the 30th April will arrive and he will pull out of the sale.

Kayalana99

In that case I probally wouldn't even try mortage companys don't like to part with thier money easily and you are not just relying on your solictors to deal with things fast but thiers.....and you'd have to pay for the survey fee & possibly solictors fee if it falls through. You'd be suprized how many offers fall through because of mortage offers backfiring after they have been recieved.

If you *want* to give it a shot I think it might be worth giving your mortage company a call and see what they have to say. Ours asked us SO many questions after we put the house offer in. We went round the house in november and have been living here since mid march....so thats over 4months going on 5...and we were FTB's.

claireizadiamond

I think I will just have to wait and see and learn my lesson to not get my heart set on a house until we have the keys in hand!!

There was me saying to people that I wouldn't get stressed when buying a house.....we haven't even had an offer accepted properly yet and I am already stressing!!

Ivana_Tinkle

The vendor sounds a little, ahem, eccentric, to say the least. Which isn't a reason not to proceed if you love the house, but just be very careful. Don't let things get overlooked in the rush. Get your survey; get the searches; check out the neighbours; make sure you get answers to all your solicitor's questions. Just keep your eyes open!

sheilaluc

So far it has taken me 9 weeks since I made an offer on a house and there is no end in sight. There is no chain,

claireizadiamond

I am not holding out hope, I am just wondering whether he would pull out of a sale for the sake of possibly a couple of weeks delay?! I think I am too trusting of people though, I would like to trust him 100% but with family being concerned about him pulling out of the sale it has got me thinking.

arbrighton

claireizadiamond wrote: »

I am not holding out hope, I am just wondering whether he would pull out of a sale for the sake of possibly a couple of weeks delay?!

Well his sale will be delayed even further if he has to start again....

But 24 days sounds tight if you haven't got a mortgage offer.
Ours took over 3 months to complete. No mortgage and only a short chain. But terrible terrible conveyancers on their side held things up.

Ivana_Tinkle

claireizadiamond wrote: »

I am not holding out hope, I am just wondering whether he would pull out of a sale for the sake of possibly a couple of weeks delay?! I think I am too trusting of people though, I would like to trust him 100% but with family being concerned about him pulling out of the sale it has got me thinking.

What was the reason given for the rush? Being given a tight deadline with no explanation, plus his unsolicited insistence on how honest he is, isn't a great combination!