Upset with estate agents /vendor threat

MensaOPPG

So we made our offer on a property back in February and it took a long time to sort out the mortgage (we are FTBs).

While waiting for the mortgage decision (took about 4-5 weeks) the estate agents told us that vendor wants to exchange ASAP and they pushed us to get our solicitors to conduct searches before we found out whether we had a mortgage – we decided to risk it as we liked the property.

Once we got a mortgage we instructed for a full structural survey. The estate agents rang me when they found out and were angry with us.The estate agents explained that the vendor does not see the point in the survey since the property passed the lending criteria from our mortgage lender.

I sent an email back (and asked the seller to be cc’d) to explain that it was important to us to do this and that a valuation is not the same as a full structural survey.

The estate agents must have forgotten to remove my email address as the seller got in touch and not only explained that he approved of our decision to conduct a full structural survey but that he was told that we had given a date to exchange so he asked his tenants to leave early!

So we both worked out there was some lying going on.

Survey has shown that the property is not of traditional construction and has asbestos containing materials (ACMs). Obviously these are not ideal things for selling on later but the buildings construction is typical for the area and it is sound. Also I think ACM’s are common in properties built before year 2000. Anyway, things have been delayed enough with the mortgage and the report and we were happy with what the report has said so we decided we would get tell our solicitor we were ready to exchange.

Unfortunately my partner is away for the next two weeks and I can’t get the time off. I explained that the soonest we could exchange was 28th May.

Today I got an email from estate agents saying that if we can’t exchange by Friday then the vendor wants to put the house back on the market for £15,000 more than we offered.

I can’t understand why they can’t wait two weeks? I am not making excuses. Our solicitors are not based in our area and are 30 miles away. Are we being unreasonable to ask for 2 weeks?

I have not buckled to the threat yet as I do not know how we can get to the solicitors at a sooner date. I’m pretty upset though, I was getting happy and excited about the exchange and now I’m not so happy L

pimento

It's a big purchase, a house. I wouldn't rush it. Call their bluff. Even if they find a new buyer on day one, they would still not exchange contracts before you.

GalaxyStar

I would check with the vendor themselves, since the EA seems to have a history of lying, to both of you. You can also try to reason with them yourself if they have said that and see what their view point is without the EA putting his bit in

davidmcn

Are you sure you need to visit your solicitors? (since that sounds like the main cause of delay)

Jabberwk

I would also suggest checking with the vendor as the EA has misinformed you previously.

Is it actually necessary for you to go to the solicitors in person? We are using an online conveyancing firm and will never actually visit their office. Everything is done by post (although I appreciate your partner being away may still be an issue).

Dan-Dan

pimento wrote: »

It's a big purchase, a house. I wouldn't rush it. Call their bluff. Even if they find a new buyer on day one, they would still not exchange contracts before you.

That depends on any new buyers position , could be a cash buyer, skip searches , prompt solicitors etc , easy done in a matter of days

zarf2007

NikkiBD wrote: »

So we made our offer on a property back in February and it took a long time to sort out the mortgage (we are FTBs).

While waiting for the mortgage decision (took about 4-5 weeks) the estate agents told us that vendor wants to exchange ASAP and they pushed us to get our solicitors to conduct searches before we found out whether we had a mortgage – we decided to risk it as we liked the property.

Once we got a mortgage we instructed for a full structural survey. The estate agents rang me when they found out and were angry with us.The estate agents explained that the vendor does not see the point in the survey since the property passed the lending criteria from our mortgage lender.

I sent an email back (and asked the seller to be cc’d) to explain that it was important to us to do this and that a valuation is not the same as a full structural survey.

The estate agents must have forgotten to remove my email address as the seller got in touch and not only explained that he approved of our decision to conduct a full structural survey but that he was told that we had given a date to exchange so he asked his tenants to leave early!

So we both worked out there was some lying going on.

Survey has shown that the property is not of traditional construction and has asbestos containing materials (ACMs). Obviously these are not ideal things for selling on later but the buildings construction is typical for the area and it is sound. Also I think ACM’s are common in properties built before year 2000. Anyway, things have been delayed enough with the mortgage and the report and we were happy with what the report has said so we decided we would get tell our solicitor we were ready to exchange.

Unfortunately my partner is away for the next two weeks and I can’t get the time off. I explained that the soonest we could exchange was 28th May.

Today I got an email from estate agents saying that if we can’t exchange by Friday then the vendor wants to put the house back on the market for £15,000 more than we offered.

I can’t understand why they can’t wait two weeks? I am not making excuses. Our solicitors are not based in our area and are 30 miles away. Are we being unreasonable to ask for 2 weeks?

I have not buckled to the threat yet as I do not know how we can get to the solicitors at a sooner date. I’m pretty upset though, I was getting happy and excited about the exchange and now I’m not so happy L

Tbh a lot of people get peed off with FTB's for these reasons, you need to get your act together or you will lose this property, if this is london I'd be amazed if you weren't gazumped already.

Mattygroves2

No need to visit the solicitor to sign before exchanging - it can all be done by post (bought and sold 5 houses this way so far). I'm actually surprised you haven't already signed, and left the signed copy with your solicitor, if you knew one of you was going to be away so that you were ready to exchange immediately when you were happy.

You might get away with it if you can complete and exchange on the same day and get your solicitor to back you up.

MensaOPPG

zarf2007 wrote: »

Tbh a lot of people get peed off with FTB's for these reasons, you need to get your act together or you will lose this property, if this is london I'd be amazed if you weren't gazumped already.

I still do not think what we have requested is unreasonable. Its not about "getting our act together" we cannot BOTH get down there before that date. Our solicitors have requested the presence of both of us to exchange and unfortunately that is not possible.

I do not understand why they are making us go in after reading all the useful feedback on here now??
Wish they would just post it!

MensaOPPG

Quizzical_Squirrel wrote: »

Maybe the vendor will lose the house they want if they don't exchange in the immediate future. There could be a long chain above putting pressure on him and everyone in it is stressed by your delays.

Maybe they think you're dragging your heels a bit. That's how it's looking to me actually as an outsider, just looking at the bald facts.

You made your offer in February. Lets say mid Feb for arguments sake.
4/5 weeks spent getting a mortgage, which takes us to mid/late March
Only then do you instruct your surveyor.
Now we're 2 months later and you still aren't ready to even exchange and now want to delay for another 2 weeks.

You're chain free so there was nothing at your end and you don't have to physically visit the solicitor (I've sold UK property from abroad) so that may be coming across as another delaying tactic. Papers can be sent from one partner to another for signing by mail and then returned. You could even courier them if appropriate.

This is just how it sounds on paper. I know you'll have extenuating circumstances for each thing but that might not be what the vendor's seeing. He's probably looking at buyers who don't seem fully motivated.

That's really useful feedback. Had not thought of it that way.

(NB actually we instructed Surveyor on the same day that our mortgage application was approved so actually I probably got the no. of weeks wrong for the receipt of our mortgage application wrong in original post .....but anyway..)

I'm going to speak to solicitors and get them to clarify why they need us both there because this is literally the only thing that is delaying it and its daft when we really do want the property we just can't both be there for exchange as they requested.
Thanks for your reply

ViolaLass

NikkiBD wrote: »

I still do not think what we have requested is unreasonable. Its not about "getting our act together" we cannot BOTH get down there before that date. Our solicitors have requested the presence of both of us to exchange and unfortunately that is not possible.

I do not understand why they are making us go in after reading all the useful feedback on here now??
Wish they would just post it!

You're paying them, tell them to post it to you.