mortgage and valuation has been blocked by vendor

xlollx

Help!

I was under the impression from agency and mortgage broker that the mortgage application was going well. Until today when I called up the valuation surveyors to find out when I was receiving a copy of the Home Buyers report. It turns out the vendor has refused them entry into the property and on file it says she has not found a house and won't sell if she doesn't find a house. Therefore, the valuation can't take place and the mortgage process has been stopped.

The agency and mortgage broker knew about this information but withheld it.

What can I do? I have paid for the valuation homebuy survey but if the vendor is refusing them access into the property then surely I am in my right to ask for money back.

Is this vendor playing silly games or has she got some kind of underlying plan?

Any information would be gladly welcomed.

bigadaj

Ask for your money back if they knew this as its not appropriate to survey in these circumstances.

I'd be reluctant to continue if I were you, as if the vendor were keen to sell then they wouldn't be so obstructive. You could try and ask for a deadline but if not outright refused then they might simply ignore, with no recourse unless you put a penalty in the contract which the vendor probably wouldn't accept.

I'd be looking for another property.

ValHaller

xlollx wrote: »

.... Is this vendor playing silly games or has she got some kind of underlying plan?

Confused old biddy who will never get her act together to buy a place and if she does find a place to buy will probably hack off her sellers with a similar stunt.

If you want the property, you are in it for the long haul and you may need to wait for it to be sold as a probate property.

Simon_gloster

Shame the English system us not like the Scottish system as it'll remove idiot vendors like this. I empathise with you. Tell them to sod off and buy somewhere else. Even better wait till they find, wait 3 weeks and pull out (whilst pursuing other properties in the meantime). It's dog eat dog.

xlollx

I always thought the Scottish sealed bids system was a bit harsh but at least the moment you say 'yes' and have made an offer it's legally binding.

I really don't understand why the vendor has even bothered to put the property on the market. We said we would work to her time scale but this is ridiculous. We meant to give her maybe a few extra weeks not years!

I think she has very high expectations of the property she wants and for the price she wants to pay, the location, size of property and quality of the property...it doesn't exist!

Problem is, for the price we are paying for her property it is a steal. Perhaps she has realised this. There was talk at one point for the vendor to take the property off the market and put it back on at a higher price!

Big sigh.

kingstreet

You should not be applying for a mortgage, nor paying fees, until the vendor has found a property and the chain has fully formed up, then you all make equal progress together.

There is no point charging off ahead of everyone else. That's a recipe for wasted money as your mortgage offer expires before everyone else's.