We've withdrawn our offer!

m0bov

Dont spend a penny until the property is vacant.

moromir

The terms of your mortgage offer almost certainly explicity prohibit you from exchanging without vacant possession.

Don't take their word for it - go round and make sure its empty before you allow your Solicitor to exchange.

Eejay

This is why the house is causing so much stress!

My husband's mortgage application has been submitted; the bank reckoned it should be processed within 5 working days... 6 working days ago. This was after it took them a week and a half to submit the application (he went for the meeting on 7th June, the woman was supposed to contact him around 10th/11th to discuss the best option due to potential rate changes, but then he didn't hear from her and couldn't get in touch with her until last week).

He paid for the searches to be done early on, but then discovered that it was against the solicitors' policy to have them carried out before a mortgage had been approved.

The EA submitted appallingly filled in paperwork. Since we told them we were withdrawing our offer, they emailed today and decided to tell us the vendor's relative is redoing the paperwork (they should have just said so when they asked him to redo it rather than repeatedly telling us the forms weren't important and that we shouldn't hold up the survey just because of that) and that 'the solicitor should have it'. The solicitor didn't have it yesterday, and we've both tried to contact her today and heard nothing back.

The EA has given us until Friday to get the survey carried out (despite taking weeks to submit adequate paperwork - and of course we still haven't seen it so it might still be cr*p), but my husband said it's part of the mortgage process and that he will get a full structural survey carried out as soon as he has that option.

The majority of the delay at our end has been the mortgage (the appointment was our fault, the delay after was not - for example, when they realised they needed bank statements with more account details on I went straight to the bank and got them and my husband scanned and emailed them that same day, so we have been trying to get things done as quickly as possible), not helped by the fact that the solicitor and woman at the bank have been so difficult to get hold of at various times. Yet the EA wants us to get everything done as quickly as possible so that the vendor can delay the whole thing for another 9 or so weeks... it just makes no sense to me. I feel they are constantly threatening/pressuring us but they seem to think everything is perfect at their end. It's a ridiculous way to go about it.

Most people on here are in agreement that we should absolutely not exchange contracts before the property is vacant, but that's exactly what the EA and solicitor are expecting us to do. I can't find any info about whether the mortgage would allow it, but if it doesn't, are the EA just going to tell us they are going to put the property back on the market - even though we'll have spent money on surveys etc. at that point?

I just don't know what to do. I have booked a viewing elsewhere for tomorrow but my husband has done nothing but moan about the property I'm viewing - he seems to be set on this one despite all the drama it's causing. I'm concerned that if we keep going with it, the EA is just going to have demand after demand after demand... I'm coming up to 36 weeks pregnant - what if they throw a strop because I've caused another delay by going into labour, for example? They are completely unreasonable and deluded and I want nothing more to do with them :mad:

franklee

Eejay wrote: »

Most people on here are in agreement that we should absolutely not exchange contracts before the property is vacant, but that's exactly what the EA and solicitor are expecting us to do. I can't find any info about whether the mortgage would allow it, but if it doesn't, are the EA just going to tell us they are going to put the property back on the market - even though we'll have spent money on surveys etc. at that point?

I just don't know what to do.

If you think you are stressed now that's nothing compared to having exchanged and then not completing on time. You need to ask your solicitor what happens if the tenants haven't moved out by completion day! You need to insure the property from exchange of contracts so you need to ask your buildings insurer if you are covered with tenants living there. You need to ask your mortgage lender what happens if completion is delayed for several months while the tenants are evicted though the courts after exchange and the completion date. I think that will show you that you already got great advice on your other thread not to exchange until the tenants are out but you don't seem to be taking it on board so ask the questions directly of the professionals you are dealing with.

Gwhiz

OP - you say that the EA and solicitor are expecting you to exchange without the property being vacant. Is that your solicitor or the vendors?

If it's yours, I would seriously question using them as no solicitor worth their salt would suggest such a thing to their purchasing client.

Eejay

I am taking it on board, I just don't know what to do. I trust the people on here more than I trust the EA and to be honest, even the solicitor. Why is she not concerned about it? Surely she should know what the consequences of them not being out on time are?

My husband really wants the house but the EA will not listen to us and wants us to spend the money on surveys ASAP despite them being adamant the tenants will not be served notice until we exchange. I would have happily left it with us withdrawing our offer because the whole thing is a farce.

I hope this house tomorrow is nice and I can persuade my husband it's a better option... (it's cheaper and needs less work but it's also a fair bit smaller - which is the main thing he's moaning about! The EA is also our LA so I don't think they'd be as likely to mess us around either).

franklee

Eejay wrote: »

I am taking it on board, I just don't know what to do. I trust the people on here more than I trust the EA and to be honest, even the solicitor. Why is she not concerned about it? Surely she should know what the consequences of them not being out on time are?

Ask her!!!!!! And then post her reply.

ace_85

It really does seem like you are making this unnecessarily complicated, and this is coming from someone who is currently trying to purchase a property in a scenario that is not at all unlike yours. Our rep at the EA, like with most EAs worth a damn, is well aware that there will be no exchange of contracts without vacant possession and, to that end, has liaised with the vendor to serve notice on the tenants in our potential property well ahead of the proposed exchange date. Why are you even entertaining this farce of an arrangement at all?

If it was me (and a few weeks ago, it was), I'd be on the phone to the agency tomorrow morning telling them that, if they and the vendor want my business, they had better show some willing and commitment by serving the relevant paperwork to the tenants ASAP. No mortgage lender/solicitor for you or any other buyer under the sun will agree to either A) an exchange of contracts or a drawdown of mortgage funds until the property is empty and has been inspected. Who in their right mind, above all else, would be taking on landlord duties between exchange and completion (as this basically seems to be what the EA is expecting)? If they are truly that arrogant or inept with property law then I would be running a mile, personally, and I'm highly confused as to why you don't appear to be :huh:

Eejay

Gwhiz wrote: »

OP - you say that the EA and solicitor are expecting you to exchange without the property being vacant. Is that your solicitor or the vendors?

If it's yours, I would seriously question using them as no solicitor worth their salt would suggest such a thing to their purchasing client.

Our solicitor has never said, "You should do this because it's a good idea", but she has commented on them wanting to serve notice after exchange and didn't mention it being an issue. I can't find the email but I'm certain she's never told us she's concerned about it. She seems to have been okay with the sale of our other property but that was fairly 'smooth' apart from a few strops from the buyer. The fact that she is so difficult to get hold of doesn't impress me to be honest.

I know I didn't want to get involved with this purchase, but I wish I had been now. I'm way more assertive than my husband and wouldn't have put up with as much BS as he has. My main concern was the financial side of things because that is none of my business and even the few things I did say were twisted (the EA left him a Voicemail saying I'd told him the reason the mortgage application hadn't been submitted was because he was still deciding which type to go with, but that wasn't true - I said he'd been told to decide between the two if the rates changed on 10th June, and that I think he'd picked one but wasn't sure if the woman had got back in touch, which is why he needed to speak to him and not me).

Eejay

franklee wrote: »

Ask her!!!!!! And then post her reply.

I rang to see if I could speak to her today and was told she was in the building but not at her desk. Said I'd try again in about half an hour, but then my husband went on lunch around that time and tried calling her instead. He couldn't get through so left a message and waited all day for a response but didn't hear a thing from her. She hasn't been on holiday for at least a week though so she must surely be due some more time off by now...

ace_85 wrote: »

It really does seem like you are making this unnecessarily complicated, and this is coming from someone who is currently trying to purchase a property in a scenario that is not at all unlike yours. Our rep at the EA, like with most EAs worth a damn, is well aware that there will be no exchange of contracts without vacant possession and, to that end, has liaised with the vendor to serve notice on the tenants in our potential property well ahead of the proposed exchange date. Why are you even entertaining this farce of an arrangement at all?

If it was me (and a few weeks ago, it was), I'd be on the phone to the agency tomorrow morning telling them that, if they and the vendor want my business, they had better show some willing and commitment by serving the relevant paperwork to the tenants ASAP. No mortgage lender/solicitor for you or any other buyer under the sun will agree to either A) an exchange of contracts or a drawdown of mortgage funds until the property is empty and has been inspected. Who in their right mind, above all else, would be taking on landlord duties between exchange and completion (as this basically seems to be what the EA is expecting)? If they are truly that arrogant or inept with property law then I would be running a mile, personally, and I'm highly confused as to why you don't appear to be :huh:

My husband really wants the house. I am beyond the point of caring about it because it's been so much hassle so far, and I think we will potentially lose a lot of money by going ahead, but he is so busy 'umming' and 'ahhing' about it. I'd have happily left it at withdrawing the offer. I kind of wish I had the guts to go to the EA tomorrow, but sadly I'm no good with face-to-face confrontation

ETA: I've told my husband he's being a complete idiot and that he needs to start listening to people on here rather than the EA/solicitor, and that there's a good chance the mortgage wouldn't allow him to exchange with the tenants still there. Also pointed out the possible issue with insuring the property. He's sent a text message to the woman at the bank (he said she doesn't reply to them but it should give her a nudge to get in touch) and will see what she says - could be the deciding factor! I said the EA might be annoyed if we couldn't exchange contracts as 'we' would be delaying the sale by another two months to allow for the tenants' notice period, and they might insist on putting the property back on the market even though we'll have paid for surveys and whatnot at that point - probably not worth the risk.