Advise Required : 1st time buyer in the middle of house buying process

rr68163

Hi All,

I keep getting chased by the EA for updates from my solicitor . However the EA hasn't given me updates with what going on with the vendor anyway.................

I had spoken to my solicitor and they have stated they have received the enquiries back however they has stated they are waiting on the vendors solicitor as they are waiting on search results from the properly they are buying.

When my offer got accepted the EA stated they where will to move into temporary accommodation. This has left me fuming......I have emailed the EA to confirm if what my solicitor is saying is true.

Any advise or just be patience?

Thanks In Advance.

warby68

Its quite common to say (and even genuinely intend to do it ) that you will move into rented to smooth the sale and then when reality hits (cost, inconvenience etc) that plan changes.

There is no point fuming though, try and stay calm and find out what is happening, what the chain now looks like and whether you want to stay committed to this property.

I know it seems like you've been told porkies but unfortunately there is no redress for this kind of thing or any other kind of backword in property buying until contracts are exchanged. Thats why you need to stay calm and adjust, or otherwise, to whatever goalposts have moved rather than trying to fight any kind of battle based on what's been said before.

VintageHistorian

Stay calm and be patient. The Agent may have told you that the vendors were willing to move in to rented, but can you be certain that the vendors actually said that? Agents will say anything to secure the sale, and their commission, and if your vendors are now waiting for their searches to return then they can't be too far behind you in the process.

What you need to find out now is how big is the chain? If it's just you, the vendors, and they're buying an empty property, then it's a short chain and shouldn't take too long for everyone to agree on exchange/completion dates when everything has come back and been signed. If the chain is longer then that may cause more delays as you wait for all the ducks to get lined up.

AnotherJoe

It may well be that they genuinely were willing to move into temporary accomodation if they didnt find something to buy, but since they have, there's no need.
So, dial down the "fuming" to mild exasperation

martindow

It's very easy for people to say they will move into rented if necessary when it is way in the future. When they realise the extra costs and disruption involved they change their minds. Buying and selling at the same time is the normal procedure.

There is no point in getting worked up as only you will suffer. Is there any specific reason why you feel it has to go through in a couple of weeks rather than a couple of months?

Linton

Suggest you try and get out of the loop. Let the professionals take the pressure. Our vendor's EA calls our solicitor directly each week to get updates and informs all interested parties on progress. The EA considers that to be part of his role.

rr68163

It more to the fact of being honest as I have been through the process.

It has gone on for 2 months or more already.

I was being chased by the EA to do things as quickly as possible. Whilst I was getting on with things I asked has the vendor found somewhere to move? The answer was no. This had gone on for a month and then the EA advised they where willing to move into temp accommodation.

eddddy

Linton wrote: »

Our vendor's EA calls our solicitor directly each week to get updates and informs all interested parties on progress.

I guess that's OK if you're happy about it. But I think that's an outrageous idea.

I would never allow my solicitor to talk to the vendor's agent.

Potentially...
- the vendor hears about the progress of my purchase before I do
- the EA tells the vendor 'negative' information about my purchase, but hides it from me
- the EA puts a 'spin' on whatever the solicitor says

MK__2

Hang on in there.
When we put our house on the market, we had every intention of moving into rented to get into a better position for buying, and this is what we stated. However, what we did not envisage was the housing market locally drying up so dramatically and very few suitable rental properties being available.
Unless a vendor is prepared to waste £1000s, then there's no point committing to renting unless you have a better idea of when you are going to complete your sale. I cant afford to pay rental and a mortgage too, and we have watched rental properties come and go whilst our buyers were getting their mortgage approved, searches done, etc.

Now they are ready to exchange and really pushing us, but there is literally no suitable rental properties in our school catchment area currently.
Our estate agent calls me for an update every few days and I know our buyers are frustrated, but it's frustrating from our side too. We are doing everything we reasonably can to find somewhere suitable.

Be patient. If the market is anything like where we are, you might be better off waiting rather than starting afresh and finding that there's even less houses to go for, and more people competing for them pushing the prices up.