Offer accepted, more viewings this week

G_M

Just can't win eh........?

https://forums.moneysavingexpert.com/discussion/5252618

djedga

mhuk01 wrote: »

I realize that they'll conduct a basic valuation, I just meant I shouldn't need to conduct a full survey aside from that.
What frustrates me the most is that they come back saying offer accept when clearly there is no commitment to it. The situation leaves me unable to offer on any other properties, whilst also giving me seemingly very little security of getting the flat.

I was just trying to point out that at point of lenders survey this shows the seller you are committed and well underway with your mortgage application (which is what the previous poster was saying)

A lot of sellers will stay on the market until this step is taken but will accept the offer. This way they have some security should one of the following happen before exchange.

1) You change your mind
2) You can't secure a mortgage
3) You find a different property

At this point you could easily offer on other properties should you wish as you are in no way committed to the sale until you exchange contracts.

I understand your frustration. I would state to the EA that your offer is on condition that no further viewings are carried out. however if you have not got your mortgage offer then you are still a "risk" so they may choose to keep options open.

Surrey_EA

G_M wrote: »

Just can't win eh........?

https://forums.moneysavingexpert.com/discussion/5252618

Very true.

Hoploz

A couple of weeks ago my sis in law went under offer v quickly, accepted the offer in good faith, duly had an offer accepted on the one she wanted to buy. All tied up, Hoorah.

Fast forward a week or so and the buyer found they were unable to proceed as they hadn't been in their job for the required three years. Bosh, house back on the market.

Luckily she has accepted another offer quickly for the same amount, but this time she is leaving it open to further viewings just in case the same thing happens again.

Who can blame a seller for doing so?

mhuk01

Hoploz wrote: »

A couple of weeks ago my sis in law went under offer v quickly, accepted the offer in good faith, duly had an offer accepted on the one she wanted to buy. All tied up, Hoorah.

Fast forward a week or so and the buyer found they were unable to proceed as they hadn't been in their job for the required three years. Bosh, house back on the market.

Luckily she has accepted another offer quickly for the same amount, but this time she is leaving it open to further viewings just in case the same thing happens again.

Who can blame a seller for doing so?

So do the people making viewings know that someone else has made an offer, and they only have a chance if things fall through? Otherwise no, I do not think that's fair on the buyer.

Rosetinted

mhuk01 wrote: »

So do the people making viewings know that someone else has made an offer, and they only have a chance if things fall through? Otherwise no, I do not think that's fair on the buyer.

In my experience, estate agents tend to tell you when there's an offer on a property you're viewing (fairly often I've been told over the phone when first enquiring and asked if I still want to view). After all, there's this pervasive notion that knowing someone else wants it makes the house seem more appealing and might spur another potential buyer into a bidding war.

However, I've never viewed a property on which an offer was already accepted, nor would I. I don't approve of gazumping, so if I loved it, I'd be stuffed. Also, I'd be suspicious that if the seller can't commit to the buyer they already have, what's to say they wouldn't ditch me somewhere down the line if a better offer came along?

jimpix12

Throughout all of this I more have the feeling on unprofessional behavior from the agent, rather than the vendor. At no point has the agent called me back with news, even when there has been. Has anyone had any experiences similar to this?

No, never. All estate agents are competent and professional.

Seriously, tell the agent to buck their ideas up, stop all future viewings immediately or you will withdraw from the sale while you still can.

mhuk01

Just a quick update for you all - agent called today to let me know the viewer for later this week cancelled (due to being told an offer had been made), and that there would be no more viewings.
I am confident to move the process forward now with solicitors and mortgage application, which is good news.
However, the property is still listed so I obviously still have some concerns. Has anyone used the following site for insurance when buying a property? http://www.coverbuilder.co.uk/hbp/homebuyersprotection.php