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Accepted offer on our house now awaiting buyers mortgage offer?
Disney_Pluto
Posts: 754 Forumite
Hi,
We accepted an offer on our property 4 weeks ago and heard from our solicitor last week to say they are awaiting the buyers formal mortgage offer to come through. He doesn't want to do anything further until he has his formal offer through. He has a cash buyer for his place.
Is this normal? It's our first house so never sold before and just getting nervous he may pull out.
Our solicitor doesn't seem overly concerned and just said he would keep us informed.
Thanks in advance for your help.
We accepted an offer on our property 4 weeks ago and heard from our solicitor last week to say they are awaiting the buyers formal mortgage offer to come through. He doesn't want to do anything further until he has his formal offer through. He has a cash buyer for his place.
Is this normal? It's our first house so never sold before and just getting nervous he may pull out.
Our solicitor doesn't seem overly concerned and just said he would keep us informed.
Thanks in advance for your help.
0
Comments
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I don't think it's unusual - the buyer may not want to spend money on searches etc until he's got a firm mortgage offer.
I'm currently trying to move (had my offer accepted, accepted offer on my place) My mortgage advisor has said it will be about 3 weeks to get my formal offer, and I did the formal application 3 days after getting confirmation of my offer being accepted. I suspect my buyer is going to take longer as, despite my having accepted his offer about a week before I had mine accepted, it took him longer to see his broker and make the application.
I'm trying to be patient, but it's not easy!All posts are my personal opinion, not formal advice Always get proper, professional advice (particularly about anything legal!)0 -
I don't think it's unusual - the buyer may not want to spend money on searches etc until he's got a firm mortgage offer.
I'm currently trying to move (had my offer accepted, accepted offer on my place) My mortgage advisor has said it will be about 3 weeks to get my formal offer, and I did the formal application 3 days after getting confirmation of my offer being accepted. I suspect my buyer is going to take longer as, despite my having accepted his offer about a week before I had mine accepted, it took him longer to see his broker and make the application.
I'm trying to be patient, but it's not easy!
Gagpuss - when you say a - firm mortgage offer - is this an AIP (acceptance in principal) or something else? thanks0 -
AIP isn't firm. After AIP and after having an offer accepted you need to have a thorough check carried out to get a firm offer.0
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