Vendors still looking but is such politics in order?

sterl1ng

Its been over 7wks offer was accepted and vendors are still looking, just got a progress report and no joy still but their EA suggested I play politics and just apply for mortgage even though bit of risk and they will then be obliged to move....whats your thoughts on this? TBH I don't want to risk losing out on potentially £500 but do wonder if it will give vendors bit of nudge, but also secure not paying stamp duty!

pinkteapot

The EA is talking absolute nonsense. Of course they won't be obliged to move! They're not going to get out just because you've applied for your mortgage.

EA is worried you're getting cold feet and will look elsewhere for a proceedable property. They want to lock you in by making you spend money. A polite no is in order.

Not sure what you mean about stamp duty?

ReadingTim

What will really give the vendors a nudge would be for you to start looking at other properties - preferably with the same agent!

Don't get talked into spending money if the vendors aren't serious about selling, or aren't able to fit into your timescales

JR4

I accepted an offer on my property some weeks ago and cannot find anywhere to buy I have told the buyers not to spend any money on surveyors etc until I find somewhere if my buyers look at other properties that is up to them but I will not be pushed into buying a house that is no good. I do feel bad for my buyers but if I can't find a suitable house I can't make it appear out of thin air.

sterl1ng

TBH I would rather wait as no point in spending money I could lose. As I was looking to apply via Halifax they pay stamp duty (if I apply before 6th may but would need to complete by end of august!). I see what you mean about EA locking me in so I'll just wait but have started looking online at other properties. Its a London market so I guess that's why they are struggling but really they should know that before start potentially wasting a buyers time...and money.

This is harder than I thought and from June I'll be paying extra on my rent here so bit annoyed

brightonman123

give them a week, then look elsewhere.

Bella73

To be honest I would just start looking for another property.

sterl1ng

I've started looking online zoopla about 4wks later offer being accepted just in case and do look everyday on the site for new things too. A pity though as a lovely property but my concern is with our waiting they may eventually decide to stay put given they cannot find anywhere but I think EA told me they may open their search area as they realise the area they are looking harder than they thought. We were looking for a year then thsi place was accepted so bit gutted its taking time. We were there this weekend and walked past the property as friends live nearby.

rexmedorum

If I was selling my house and had buyers ready to complete but no new place, I'd be tempted to rent somewhere for 6 months. Yes it's 2x the moving which is a pain but it does facilitate the sale, and you then have 6 months to look as a 'cash buyer'. But maybe I'm missing something.

G_M

Take whatever the EA says wih a pinch of salt. They are only concerned to keep you tied to the purchase, whether by encouraging you to commit money, or telling you how the sellers are expanding their search, or have found somewhere but..... they'll say anything rateher than see you go/look elsewhere.

The EA is not your friend. He just acts like he is.

sterl1ng

rexmedorum wrote: »

If I was selling my house and had buyers ready to complete but no new place, I'd be tempted to rent somewhere for 6 months. Yes it's 2x the moving which is a pain but it does facilitate the sale, and you then have 6 months to look as a 'cash buyer'. But maybe I'm missing something.

You'd think that but they have pets so I think its tougher for them to do that plus I did suggest the renting thing to the EA about 2wks ago but he said its unlikely they would do that. I know they were concerned about finding somewhere and I don't mind waiting another month but its just the not knowing really that's driving me bonkers. And with the rent going up another £100 in summer as well as living in this area which has few gangs so not ideal for us...plus the bath has a hole!