Vendor still has property on the market

Better_Days

OP is the chain complete?

Goldfish52

Yes.
Our buyers are FTB in rented accomodation. The vendor is not relying on the sale of his property to move on so we have been told that there is no upper chain and he has somewhere to move to sorted out already.

The short chain is another reason that we don't want to pull our offer!

Vintageryan

Goldfish52 wrote: »

In fairness, the reason it is taking a month to sort a survey is because Christmas and New Years are getting in the way and surveyors are not booking valuations over that period!

But you had the two weeks before Christmas and even if surveyors are not doing surveys over Christmas surely you can book one for January?


I am just trying to see this from the other side, if you still have not got a survey booked and you don't intend to instruct until the new year your looking at 5 weeks since you put the offer in?


I think any seller would get cold feet.

Goldfish52

We are arranging our mortgage through HSBC and they will not allow us to instruct our own survey. It has to be organised through them with Direct Valuations. Completely ridiculously they will not accept a survey that I arrange through Direct Valuations myself. Unfortunately we had to go away last week for 5 days, which has slowed things down admittedly, but there was nothing we could do about that.

Our solicitor was already instructed and we provided him with her details within an hour of him accepting the offer, but she has not received the contracts from his solicitor yet, so there are 2 sides to this.

I *can* see it from the sellers viewpoint. I'm just judging him by our standards, which are that we took our flat off the market immediately after we accepted an offer. I guess we will have to see what happens after Christmas as we cautiously proceed.

Dan-Dan

to be honest , you could book your own local surveyor at any time you like , it has nothing to do with the lender , the survey they will carry out is simply to make sure their exposure is covered

If i was your seller , i think i would keep marketing as well , as you come across as hesistant i.e not sure

Errata

A property is on the open market even when it's badged by the EA 'under offer' or 'sold subject to contract'.
If a new solid prospect sees it as their dream home and offers £5k or £50k more an owner would be foolish not to consider that. Buying and selling a property is a business transaction in which everyone involved pushes for the best deal.

Goldfish52

To be clear, the vendor never took the property off the market. It's not that he put it back on because we were hesitant. We offered on his property a week after we got an offer on our own and he told us he was taking it off the market. He didn't. That's where my problem lies. If he said it was staying on till valuation booked then fine. But he didn't. We have no intention of paying for 2 valuations and I don't think that's completely unreasonable. He hasn't said that he will take it off once the survey is booked and even if he did I'm not sure we could him to. In any case, it's a moot point. He's informed us he's not taking it off the market. We have told him we're not spending money until it is taken off. Hey ho!

ethank

When I sold my flat it stayed on Rightmove until we exchanged contracts. I had two estate agents, the one that sold my home had it 'Sold Subject to Contract' and the other Estate Agent had it up 'For Sale'.

I got calls for viewings from my 2nd agent, and I just told them that the property was sold.

If you see it from the agents position - they get charged per advert on RM. They don't want to close down the advert until they know it has exchanged contracts, as if the sale falls through they have to pay to market it again.

It is not necessarily the buyers fault.

moneyistooshorttomention

ethank wrote: »

When I sold my flat it stayed on Rightmove until we exchanged contracts. I had two estate agents, the one that sold my home had it 'Sold Subject to Contract' and the other Estate Agent had it up 'For Sale'.

I got calls for viewings from my 2nd agent, and I just told them that the property was sold.

If you see it from the agents position - they get charged per advert on RM. They don't want to close down the advert until they know it has exchanged contracts, as if the sale falls through they have to pay to market it again.

It is not necessarily the buyers fault.

Ah...but do EA's get charged if they change the wording of their advert?

Serious question...as I have never yet seen a house up for sale with multiple EA's with any change of wording on a rival EA's site to indicate it has actually been sold (ie another EA has it marked as "sold STC" now).

We all know most EA's lie one way or another (usually by omission). Sometimes downright lies....as I'm ruefully looking at the EA details I had right now for the one I've just bought and it describes it as "low maintenance":cool:. Of course it is (NOT) dear lying toad EA (when I can see a spreading stain in a ceiling above me from a roof leak):mad: