When do estate agents get fed up waiting!!

binerds81

Just a quick question - it is now about 5 weeks since I made an offer on a property.

I got an AIP a week after viewing and then had to wait 3 weeks before I could submit a full application due to needing a current p60 which my employers hadn't yet issued.

I told the Estate agents this and finally received my p60 last Friday, which I also told them as they chased me 3 times last week on my progress.

Now there are some issues with my application however I have paid the solicitors who have started conveyancing so I'm not completely at the start of the process even if I need to change lender at this stage

The estate agents are ringing me & emailing me every couple of days chasing the property valuation. I am a bit worried that they will start saying things are taking too long and want to put the property back on the market.

I understand this is a bit of a "how long is a piece of string question" but what are peoples experiences of the sellers/estate agent getting fed up with waiting and taking the house back to market?

oli_ro

I understand your concern and my advice is to be as transparent as possible with them and your seller and hopefully this alleviate some concerns/nervousness.

They know mortgages take time, not everyone gets an offer in a week. As longs as things are ticking over with both your solicitors and your mortgage, they should stay engaged with you. I think when they realise you had a huge block in getting a mortgage, it becomes a different story. Even then, some will wait while you try a different lender. The alternative is to go back on the market and there is no guarantee it will be faster than continuing with you.

My EA/seller waited more than 6 weeks for my mortgage, but only become a bit nervous in the last week, at which point I got my broker to call him and his message was: "Bear with us, this guy will get a mortgage according to my experience as a broker, it might take a bit longer due to lender being slow with less than straight-forward cases, worst case I will find him another lender".
(Another reason why getting a broker provides value, good luck trying to get bank staff to call an EA)

I also provided EA with updates, rather than wait for him to call me.

Also, doesn't hurt to communicate the urgency to your lender/broker.

At the end of the day, experienced EAs have dealt with plenty of cases with mortgage delays/problems and by chasing you, they want to make sure you move as fast as possible, as they want their £££ asap.

(just my opinion)

Thrugelmir

binerds81 wrote: »

The estate agents are ringing me & emailing me every couple of days chasing the property valuation. I am a bit worried that they will start saying things are taking too long and want to put the property back on the market.

The EA is the mouthpiece for the vendor. When you have any news be proactive and ring them. Don't allow yourself to feel bullied.

amnblog

Thrugelmir wrote: »

The EA is the mouthpiece.

Generally my experience.

binerds81

thanks everyone for replying, I keep saying telling them that as soon as I hear something I will ring them, and I've emailed every time I have a bit more news but with them calling me 3 times a week I was getting a bit anxious and stressed out! I will try to keep calm about it!

Thrugelmir

binerds81 wrote: »

thanks everyone for replying, I keep saying telling them that as soon as I hear something I will ring them, and I've emailed every time I have a bit more news but with them calling me 3 times a week I was getting a bit anxious and stressed out! I will try to keep calm about it!

Perhaps the vendor has found somewhere themselves and therefore is also under pressure.

amnblog

Thrugelmir wrote: »

Perhaps the vendor has found somewhere themselves and therefore is also under pressure.

Perhaps they are idiots. That's what my money is on.

binerds81

Ha ha amnblog than you for making me laugh out loud for the first time in days! Been so stressed out I forgot about smiling