Help - think it may go T!TS UP

Sugarplumfairy_2

Put my house on the market end August ... under offer within 5 days. Offer accepted, a few minor tweaks to the written offer and sent to buyers solicitor with deadline. My solicitor has now been chasing buyers solicitors for response, but to no avail. Have checked with buyers solicitor and they have not sold their house yet !!!

Problem is I have put an offer in on another house and obviously sellers solicitor wants this tied up asap. I obviously do not want to sign anything until my house is signed for. Entry date was for 05 Dec, which I know is a while away yet. But starting to panic if buyer does not sell theirs yet !!

The seller has a new house already and can move in right away, I am hoping that she will move the entry date further away as I do not want to lose this house I am planning to buy.

Anyone had anyexperience of this ?

Help needed as I have bitten my nails to my Knuckles nearly already worrying about this.

Debt_Free_Chick

Put your house back on the market and hope that this or another buyer is ready to complete when you want to.

Let your buyers know what you're doing and why.

Let the people you are buying from know too.

Are you using an Estate Agent? Did they not vet the buyers to see what their position was? Make sure they do so this time!

Sugarplumfairy_2

Have already contacted the EA and they are advising not to put it on the market again as the market has slowed right down again.

Knew that the buyers had not sold yet, but they were advised that there house would go quick (i know shouldn't have listened).

They still want to buy mine as they need the room and wont get another within price range.

Debt_Free_Chick

Unfortunately, your chain will go nowhere until your buyers get a buyer for their property. They are the key to you getting the property you want.

I don't understand why you can't keep the offer you've currently got, but remarket the property to see if a "better buyer" comes along. By that, I mean a buyer who is ready to proceed.

What do you want to do? If you want to remarket, then tell your EA. The market may well have slowed down, but that doesn't mean that there are no buyers out there.

Anyway, if the market has slowed down, how do you think this affects your buyers ....? Yup - they are in the same position!

Sugarplumfairy_2

Get what you mean now DFC. Think I will call them again Monday and remarket. Will also let the Seller know and hope they are a bit flexible.

Biggie

Sugarplumfairy wrote: »

Have already contacted the EA and they are advising not to put it on the market again as the market has slowed right down again.

Knew that the buyers had not sold yet, but they were advised that there house would go quick (i know shouldn't have listened).

They still want to buy mine as they need the room and wont get another within price range.

Contradiction in it's own right

"the market has slowed right down again." but yet "wont get another within price range"


Sounds like the estatge agent is using their usual blag...

I would get the solicitor to chase the buyers solicitor unless they can provide any progress in purchasing i.e Survey,search, mortage etc etc I would place it back on the market..

You need reassurance that they're going to proceed with the sale.

LandyAndy

How did your EA let you get this far without telling you that your 'buyer' wasn't in a position to procede?


Edit: I got distracted (by work :rolleyes: ) and by the time I pressed submit everyone else had jumped in leaving me looking like a lemon for repeating stuff.:mad:

Sugarplumfairy_2

Hi,

DFC I have taken your advice and put it back on the market. The other 2 viewers who were out that night still have not found a property so EA has given them a ring to let them know back on market. Was spurred on as my solicitor received a letter this morning advising that the buyers would not be signing anything until they were in a position to do so, understandable.

PasturesNew

Sugarplumfairy wrote: »

Knew that the buyers had not sold yet, but they were advised that there house would go quick

I had an offer like that in Nov 2006. I said "No. House on the market isn't good enough for me to accept an offer. Tell them to come back when they've got a buyer"
Took them 2 agents and 6 months to sell (note, a year ago).

Sugarplumfairy_2

Update ...

Had call from solicitor late yesterday afternoon, buyers do want to sign missives and will get a BTL mortgage or bridge if tey have any problems with their property.

So ahead we go again. I am aware that they may pull out at the last minute after missives have been signed but I guess any buyer can pull out at any time. So fingers crossed it will all go well.

My house is still on the market though , and staying that way until they sign missives. If any one else comes along in a better position then its theirs.

Sugarplumfairy_2

House has now been signed .... Onwards and Upwards is the only way to go ....(Fingers, legs,eyes crossed ).