We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Is it me?

Cookietree
Cookietree Posts: 39 Forumite
Sixth Anniversary 10 Posts Combo Breaker
in House buying, renting & selling
Having been on the market since August and we got our first offer in November. Everything moving along nicely then the bombshell from our FTB, mortgage offer declined.

Back on market within a week another FTB offer 10k less and we accepted. Roll on 5 weeks FTB gifted deposit withdrawn.

Back on the market.
So I’ve had two FTB both having mortgage difficulties.

We haven’t told our prospective purchaser this is the second time we’ve been let down as I’m sure they will pull the property and remarket it and that will be game over for us.

I can’t quite decided if our house is telling me no I don’t want you to sell me or the house we are buying is saying no we don’t want you either ...

Feeling low and just want prospective from both sides.
«1

Comments

  • comeandgo
    comeandgo Posts: 5,930 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I have never sold to a FTB. They are too much trouble.
  • datlex
    datlex Posts: 2,252 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    comeandgo wrote: »
    I have never sold to a FTB. They are too much trouble.
    good job when you got your first home the vendor didn't have that attitude
    .
    Paid off the last of my unsecured debts in 2016. Then saved up and bought a property. Current aim is to pay off my mortgage as early as possible. Currently over paying every month. Mortgage due to be paid off in 2036 hoping to get it paid off much earlier. Set up my own bespoke spreadsheet to manage my money.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    datlex wrote: »
    good job when you got your first home the vendor didn't have that attitude
    .


    Many sellers will be taking anybody they can get now, transactions and enquiries are well down.
  • comeandgo
    comeandgo Posts: 5,930 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    datlex wrote: »
    good job when you got your first home the vendor didn't have that attitude
    .

    Built first house ourselves. Family full of tradesmen. Now we are in houses that FTB would not look at.
  • Davesnave
    Davesnave Posts: 34,741 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    comeandgo wrote: »
    Built first house ourselves. Family full of tradesmen. Now we are in houses that FTB would not look at.
    Developers can be tricky customers too!
  • Davesnave
    Davesnave Posts: 34,741 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 9 January 2019 at 8:03AM
    Cookietree wrote: »

    We haven’t told our prospective purchaser this is the second time we’ve been let down as I’m sure they will pull the property and remarket it and that will be game over for us.
    You may have a week or two's grace, but you should be up-front with them, because if they get the idea that you're untrustworthy, then you won't win that trust back.

    And the people selling to you are your vendors.
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Based on the posts here it is quite common for FTB to not research properly and think asking prices are what you pay(less a bit) and make offers.

    Then they start some proper research and may think they are overpaying or their lender decides they are.

    look at what is selling and what prices they are getting, Nov sales are hitting the land reg.
  • lookstraightahead
    lookstraightahead Posts: 5,558 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper Combo Breaker
    Used to take at least a year to sell - you need patience, and if you read the news people just aren't sure what to do at the moment. It's not you, this is normal.
  • stayathomeandsave
    stayathomeandsave Posts: 17 Forumite
    comeandgo wrote: »
    I have never sold to a FTB. They are too much trouble.

    That is a massive generalisation! If a FTB has funding they are one of the best types of buyer, there is no chain and quite often they are prepared to overlook certain things about a property that others may find undesirable as they want to get on the ladder. I was a FTB last year and the vendor chose me from about 4 or 5 other offers that had chains!
  • comeandgo
    comeandgo Posts: 5,930 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    stayathomeandsave wrote: »
    That is a massive generalisation! If a FTB has funding they are one of the best types of buyer, there is no chain and quite often they are prepared to overlook certain things about a property that others may find undesirable as they want to get on the ladder. I was a FTB last year and the vendor chose me from about 4 or 5 other offers that had chains!

    Don't do chains in Scotland.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.5K Banking & Borrowing
  • 253.7K Reduce Debt & Boost Income
  • 454.5K Spending & Discounts
  • 245.5K Work, Benefits & Business
  • 601.4K Mortgages, Homes & Bills
  • 177.6K Life & Family
  • 259.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture