Is this normal when buying a house?

pioneer22

Thrugelmir wrote: »

Has probate been granted yet?

Only the agent will know the number of people that expressed an interest after the open day. Might still be waiting for someone to make an offer.

Sometimes people will pay for the "potential". If there's plenty of room to extend.

Not sure if probate has been granted. Ourselves and one other have made an offer (I saw it on the sales board)

I guess that is true, but it is a leasehold so not as easy to just extend.

Thrugelmir

pioneer22 wrote: »

I guess that is true, but it is a leasehold so not as easy to just extend.

There's far more leasehold properties around than people realise.

theartfullodger

Ask them for their ID so you take a copy. They obviously think this fair & reasonable.

[Deleted User]

Most agents around my part have started asking for original ID to copy now for AML. One of them cant even log a sale and send sales memo's without certified ID scanned to the file.

I know quite afew of them have systems that check electoral register when DoB is input to see if the details are correct.

I wouldnt have an issue with it.

And re the proof of funding. If (Current Sale Price - Current mortgage) + new mortgage = less than offer made then the agents know that someone is wasting their time. They could lose avery good cash offer from someone cause a mortgage client couldnt get their numbers to add up.

Can you imagine they negotiated the mortgage buyer up and the vendor chose them only to find out the y couldnt afford it and no one thought to check it before ditching a cash buyer?

People get so peeved with being asked to prove stuff when they are saying they can spend a few hundred thousand pounds on something.

pioneer22

Hmmm they've called our estate agent to check the house has gone sold STC.

Is that normal? What would that mean?

societys_child

pioneer22 wrote: »

The vendor has said they want to "see how it goes as the open day was only on Saturday"

They have our offer and another at 220 which it was listed for any idea why they're holding out?

It's need a lot of work to get it "modernised"

Any tips as to how we can get the vendor to hurry up, the EA hasn't asked for a higher price or to negotiate

Offer 230 maybe.
Which offer would attract you if you were the vendor?

pioneer22

No way its worth 230 at all..... not for us anyway.

Fire_Fox

pioneer22 wrote: »

Hi,

We've put in an offer on a probate house, we've had a cash buyer accept on ours and we have an AIP.

Anyway I managed to get a glimpse of their sales board, we've offered 210 someone else 220. But only 2 offers...

Any pointers or advice?

Are you willing to move into rented to hold onto your cash buyer?

Do the executors already have the grant of probate? That is often the slowest step.

Is the executor a solicitor or relative?

The process is likely to be quicker if the executor is an (experienced) solicitor, slower if it is an (inexperienced) relative.

pioneer22 wrote: »

The vendor has said they want to "see how it goes as the open day was only on Saturday"

They have our offer and another at 220 which it was listed for any idea why they're holding out?

It's need a lot of work to get it "modernised"

Any tips as to how we can get the vendor to hurry up, the EA hasn't asked for a higher price or to negotiate

You cannot easily hurry probate sales: a ballpark is six months.

Executors have a duty to get the full market value/ best price for the beneficiary(s), and to document or evidence that. Were any offers from genuine buyers?

The executor is dealing with everything in the will, the whole estate. It is more important for them to fulfil all their duties and obligations than wind it up quickly IYSWIM.

pioneer22

Looking at the lease, when it was transferred and looking on Linkedin (the name is quite unique) it looks like ownership was transferred last year.