Is this a bit suss, or just the way that it goes?

HopeAndDriftWood

I'm brand new to buying, and I'm not sure if all this is "normal"... I'd really appreciate some advice! I don't really have parents to ask and my solicitors haven't really offered any advice yet.

We viewed a house three weeks ago, and liked it. We were told at the viewing that it was back on the market as a sale had unexpectedly fallen through.

House has been on the market since the end of May, according to RM. We offered £7k less than asking, and the EA wouldn't put the offer forward as he said they wanted the price they'd agreed with the previous buyer, and we hadn't sold our house yet so weren't in a position to proceed.

We listed our flat with the same EA, it sold to a private buyer who had seen it the day before a few hours later. Our flat was removed from the EA site, we have a "Sold" sticker on our sales board and we now have a memorandum of sale.

We offered asking price on the house, which was accepted. Then a different person at the EA told us that the previous buyer had pulled out as the house has been underpinned and treated for woodbeetles, and while the latter has a 30 year guarantee, they weren't interested. The works were all five years ago and it's sold twice since then.

The EA wanted our mortgage offer and proof of deposit, which he now has. He is supposed to be doing the memorandum of sale, but so far, their house still shows online as for sale, they still have a sales board, and we've had nothing in writing about our offer. We've now got a mortgage offer and a solicitor, but it feels odd that our flat seems to be progressing and the house doesn't! I queried this yesterday and was told that the sellers now need to find somewhere to move too...

It's a lovely house and not many come up for sale around here, it's a really fast-moving market. Does it always feel a bit odd when you're buying? I feel like the EA is going to come back and say that the house has sold to someone else... or that there is going to be something really awful in the survey. But I might just be annoyed that we offered asking price for a fast move and now won't get one

RelievedSheff

I think you are reading too much into it.

The sold board didn't go up on our current house until the week before we moved in!

fiisch

It's the nature of our stupid house buying process!

When you accept an offer, normally you remove the house from sale, but if they've had a previous offer fall through the buyers are probably wary of removing until you're definitely proceeding.

That said, I would suggest making this a condition of your offer i.e.: we'll offer the asking price, but only if you remove the property from the market. You could still ask for your buyers to do this, but risk them saying no if they fancy they might receive a higher offer.

Do you definitely still want the house? A house that has been underpinned would make me nervous personally (although I know people who've bought houses that have been underpinned and not had issues).

Astuteboy

Some EA's like to leave it as long as possible before marking as sold in my experience. Those people calling with interest still go on file, ready for the EA to pounce on when something similar comes on the market.

For our current sale, we asked the EA to update to sold a couple of times (they were still calling us asking if we wanted more viewings after we'd agreed to sell) and it was only when our buyer starting getting a bit disgruntled at why it wasn't STC yet that they finally updated the Rightmove listing / board etc.

eddddy

SaucySecrets wrote: »

Then a different person at the EA told us that the previous buyer had pulled out as the house has been underpinned...

Quite a few buildings insurers are very wary of underpinned properties. It might be an idea to try getting a few insurance quotes now, rather than leaving it until the last minute.

As a starting point, ask the EA to find out who the current owners are insuring with - and whether there are any 'special terms' on the policy, as a result of the underpinning.

And just to be sure... ask the EA to ask the current owners if they declared the underpinning to their insurers.


Bear in mind that you can't 'rely' on what the EA says (in legal terms), but it may be a useful starting point.

HopeAndDriftWood

Thanks for the comments on underpinning - I was hoping the mortgage provider would do a valuation and have comments on that but they didn't want to see the property. I'll definitely look into insurance now!

They have just changed it to SSTC; and emailed us that the sellers can't find much that they want to buy, so our chain may have to be put on hold until they do, but they're looking "hard" and have reduced the area that they are looking in. They have said they'd expect completion to be in no less than 14 weeks...

This is all a lot harder than I expected! Thanks again for all the advice.

lindens

SaucySecrets wrote: »

Thanks for the comments on underpinning - I was hoping the mortgage provider would do a valuation and have comments on that but they didn't want to see the property. I'll definitely look into insurance now!

They have just changed it to SSTC; and emailed us that the sellers can't find much that they want to buy, so our chain may have to be put on hold until they do, but they're looking "hard" and have reduced the area that they are looking in. They have said they'd expect completion to be in no less than 14 weeks...

This is all a lot harder than I expected! Thanks again for all the advice.

I think your sellers are being very silly - surely that house is quite hard to sell with those issues - for gods sake rent a house rather than disrupt a chain!

caprikid1

Estate Agents Lie End off

edgex

SaucySecrets wrote: »

We offered asking price on the house, which was accepted. Then a different person at the EA told us that the previous buyer had pulled out as the house has been underpinned and treated for woodbeetles, and while the latter has a 30 year guarantee, they weren't interested. The works were all five years ago and it's sold twice since then.

Actually sold twice, with people moving in etc?
That seems pretty high turnover.

greenhill

edgex wrote: »

Actually sold twice, with people moving in etc?
That seems pretty high turnover.

Exactly what I was thinking. I'd want to know why this has happened. Often turns out to be dreadful neighbours.