Buying a Flat

anon_private

I will soon be making an offer on a flat.

However, the finance for the purchase will be coming from a probate property that I am living in - the executor is my brother, and the house is to be sold.

He does not keep in touch, but is keen to sell. I will also have to persuade him to co-ordinate the buying/selling, because it is easier for him to just sell.

Can I just put in an offer, and then tell my brother to sell the house that I am living in and provide me with my share of the proceeds?

Doozergirl

It's unlikley that your offer will be entertained without a buyer for your property as you are not proceedable.

You meed to have the conversation with your brother, get the house on the market and, really, a buyer before you go making offers.

anon_private

The house will be on the market in the immediate future.

I believe that this is the important step. Unfortunately, buyers sometimes withdraw.

A deposit for the property would not present a problem. That would normally guarantee a sale.

Co-ordination would occur regarding the buying/selling of properties to occur on the same day.

Hoploz

Put in the offer, there's no reason why you shouldn't. The EA will ask your position. Tell them these details, and you'll get the same reaction - you are at present not proceedable. The seller will give consideration to your offer, but is extremely unlikely to take it off the market with these ifs and buts. If you manage to get a buyer on the house (assuming probate has all been dealt with) then the EA and buyer will consider it a firm offer and will at that point probably take it off the market for you.

anon_private

Selling houses in my area seems to occur fairly quickly, although there is no guarantee. The estate agent appeared optimistic when evaluating for probate.

Probate has been granted.

Doozergirl

anon_private wrote: »

Selling houses in my area seems to occur fairly quickly, although there is no guarantee. The estate agent appeared optimistic when evaluating for probate.

Probate has been granted.

So what are you asking? You quite optimistically want to do things backwards but seem to know better than us.

Yes, people pull out. So you have to find another buyer. You have to tell the people up the chain so that they can decide whether to find another buyer too.

A 10% deposit and exchange of contracts is what guarantees your purchase. If you fancy exchanging contracts before doing that on your own sale, you run the risk of losing your 10% and being sued for your vendor's ensuing losses.

We find buyers first for a reason and exchange contracts up the chain for a reason.