Vendor won't instruct solicitors until I receive mortgage offer

MissBizzita

So,
Following on from the stressful time i'm having with my broker... The vendor, who is also the estate agent is also a nightmare.

At first, he refused to take property off the market until we got the mortgage valuation booked.

Then he refused to draft memorandum of sale until we got results of mortgage valuation.

Now, he is refusing to instruct solicitors until I get my mortgage offer.

I take it none of this is normal? I've already instructed solicitors and paid for searches to get the ball rolling. They are waiting for the memo of sale so that they can contact vendors solicitors and get draft contract etc. Obviously, they can't do that if he is waiting until I get the mortgage offer - which could take who knows how long! Especially given the far from proactive nature of my brokers!

I wish I could just call the whole thing off. But I'm out of pocket in terms of valution fee, search fees etc.

Any advice? Can I just tell the estate agent he's being an idiot?!

ACG

Why would he instruct his solicitors and incur costs until you have an offer?

I think you are causing a lot of your own stress here. I realise your brokers are a bit useless from your previous post but stop trying to boss the situation. Just sit back and wait to be told, assume there are no problems unless told otherwise.

You will find everything becomes a lot easier, less stressful. It might take a little bit longer but jesus your blood pressure must be through the roof!

amnblog

Your vendor (in England and Wales) can pull out anytime before exchange (as can you) so nothing is set in stone in any case.

Your vendor is being an idiot most likely due to his professional training in these skills. You cannot influence that.

As ACG says - stopping swimming against the tide and calm down.

MissBizzita

Thanks, I know I'm stressing way too much.

I was just under the impression that it's certainly more expedient to instruct solicitors now to get the ball rolling especially given that as a vendor, any costs he incurs will predominantly be related to the draft contract which can be used for another buyer should my mortgage offer not materialise...

I just don't trust this man at all. I know that until exchange anything can happen, but as a vendor myself, I've already instructed solicitors and my buyers mortgage application is ongoing.

He just seems to be moving the goal posts bit by bit and he doesn't seem to understand that the mortgage application process can take weeks!

As an ex solicitor and now teacher, I can't help but attempt to micromanage!

Apologies for the rants. Appreciate your comments.

stator

He does seem to be petty. Good luck with it all.

andyfromotley

Hi Miss B,

don't take this the wrong way, but you sound like a nightmare buyer.

First the broker, now the vendor. Just let these things happen!!

I prescribe tea, and lots of it!!!

MissBizzita

Oh I'm well aware that I'm a nightmare...

To be fair to myself, however, the vendor/ estate agent (same person) is pretty damn awful. The amount of passive aggressive emails and phone calls I've had this week is ridiculous! All because I haven't got a mortgage offer through in less than 4 working days...

I'm turning my phone off for Easter weekend and will promise not to stress (at least not publicly) until at least Tuesday...!

Thrugelmir

amnblog wrote: »

Your vendor is being an idiot most likely due to his professional training in these skills. You cannot influence that.

Personally I never acted any differently myself. Too many timewasters around. If a buyer is genuine they will get their own act together promptly before making demands.

MissBizzita

But in this case it's out of my hands... The mortgage application was submitted on the day the (full asking price) offer was accepted. The valuation took place 2 days later. Surely that can't be classed as time wasting. I can't make lenders turn applications round any faster.

Bearing in mind, I'm the one who'll be giving him money ultimately, I don't think I've particularly made any unreasonable demand, aside from asking him to take the property off the market.

He's lucky he still has a buyer based on the way he's acted.

meer53

Am i missing something or isn't it normal to get a mortgage offer before making an offer to buy a property ?

What happens if you don't get a mortgage offer ?

MissBizzita

I had an AIP prior to offering.

Impossible to get a mortgage offer prior to offering as mortgage relates to the property and until an offer is agreed you won't know exactly how much mortgage is needed.