Offer accepted November 2014, still waiting!! 😡

triage999

We accepted an offer on our home in November 2014, a substantial drop in the asking price for a quick sale was negotiated due to the buyers being cash buyers. Almost six months later we are still here, after the agents talked them into getting a small mortgage to do up the property! Nationwide are the buyers mortgage company and have been absolutely farcical! I'm tired of phoning the estate agents everyday now and getting the same answers that Nationwide are still to release the offer after an initial issue with the first back in January or asking for more paperwork.... We are now thousands out of pocket and getting no where fast! Anyone else been in the same boat with a long wait for completion?

So frustrated and angry.

HB58

I can understand your frustration and anger! What is the housing market like in your area? Would you give an ultimatum and then put it back on the market?

ognum

HB58 wrote: »

I can understand your frustration and anger! What is the housing market like in your area? Would you give an ultimatum and then put it back on the market?

I agree, why are you still waiting, if they need a mortgage to do up the property they can get it when they have completed.

Tell the buyers to move along or you move on.

SeduLOUs

If they have the cash I can't understand why they can't just go through with the sale and deal with taking out a mortgage for improvements later when they are already in.

They don't need the mortgage to complete, so I'd now be threatening to put it back on the market which might give the buyers a kick up the bum.

Annie1960

Sounds like your EA wants commission on the mortgage. Are the buyers using their broker by any chance?

How are you thousands out of pocket?

triage999

Yes they are using the EA broker, and cannot answer any of the other questions raised as to why they cannot complete without the mortgage... We are thousands out of pocket as we had a tenant that left after the offer was made as they thought the sale would be pretty swift so we have no had to pay the mortgage on the property for 6 months and rectify the property after the tenant moved out.

I was already in financial dire straits hence the sale of the property in the first place. We swapped agents as the house had been on the market since last Easter, and offer accepted last November so it already took months to get anywhere.

I am over a bit of a barrel really and cannot afford to pull out to put back on the market. Just wanted to know if anyone else had been in the same position.

Doozergirl

You can put the house back on the market while they attempt to sort themselves out. You don't need to 'pull out' at this point.

I would get it back in the websites. It really is not acceptable to wait that long.

HB58

You could start the re-marketing process without any extra cost, surely?

Annie1960

I agree with the above. Put it back on the market. However, if you are using the same EA they may not be co-operative.

How long is left on the contract with your current EA? It may actually be better to get rid of them.

kinger101

If the sale falls through, are you able to list the property with another agent? I wouldn't use these again. Not after they have caused this mess. They are your agents, and shouldn't have thrown a spanner in the works.

triage999

Thanks for the replies, I think I will approach another agent on Monday to get it re listed again. Maybe that will give them the boot up the backside or not and we lose the sale.

Either way this cannot carry on.

I am just at a loss with it all, I have fired off yet another email this evening to them after not being able to get hold of them all day again.