Offer acceptance on two properties

F37A

Hi 

Just a quick one, have an offer accepted on one property but seller taking an age to make progress. Now I want to offer on another property . Can I have the two offers accepted but not tell the agent / seller of the new property that I have offer accepted elsewhere?  On the second property I would like to take a peek at the lease before exiting purchase on first property but agent on 2nd property won't let me see lease until offer accepted on the 2nd property. If lease all good on second property then I want to exit property one purchase. My concern is that if I have offer accepted on property 2 then I'd have to exit property 1 purchase but then later may realise that property 2 lease not good - and so I would have to exit this purchase as well- so worst case I'll end up with no property.

Thanks

Emmia

Are the properties with the same agent? If not offer on the second, review the lease and then decide - but decide quickly which one you're pulling out on.

MysteryMe

I would be honest and advise the vendor of the first property that you are looking elsewhere due to length of time the transaction is taking but if they did find somewhere and you were still looking you would be happy to re offer. You haven't burnt your bridges that way. If time seems to be of the essence to you what is the position of the second vendor? You don't want to find yourself in a similar position to you are now.

RS2OOO

As a seller who's been stressed to the core due to buyers messing around / pulling out well into the process etc my advice would be to be honest about your intentions. 

It's a horrible process at the best of times and nobody needs a buyer who's not been up front about their intentions. In fact the way I feel at the moment if what you propose happened to me and I subsequently lost my onward purchase over it I'd be wanting to hunt you down.

By all means view the 2nd property but make your decision fast on which you are serious about.

Why is the seller taking an age to make progress? Are they struggling to find a property themselves, taking weeks to respond to basic enquiries, or something else?

What information are you trying to find regarding the lease on second property? If something specific can you not ask the relevant question?

SDLT_Geek

F37A said:

Hi 

Just a quick one, have an offer accepted on one property but seller taking an age to make progress. Now I want to offer on another property . Can I have the two offers accepted but not tell the agent / seller of the new property that I have offer accepted elsewhere?  On the second property I would like to take a peek at the lease before exiting purchase on first property but agent on 2nd property won't let me see lease until offer accepted on the 2nd property. If lease all good on second property then I want to exit property one purchase. My concern is that if I have offer accepted on property 2 then I'd have to exit property 1 purchase but then later may realise that property 2 lease not good - and so I would have to exit this purchase as well- so worst case I'll end up with no property.

Thanks

It should be possible to download the lease direct from the Land Registry.

F37A

Emmia said:

Are the properties with the same agent? If not offer on the second, review the lease and then decide - but decide quickly which one you're pulling out on.

Different agents. 

F37A

I would be honest and advise the vendor of the first property that you are looking elsewhere due to length of time the transaction is taking but if they did find somewhere and you were still looking you would be happy to re offer. You haven't burnt your bridges that way. If time seems to be of the essence to you what is the position of the second vendor? You don't want to find yourself in a similar position to you are now.

2nd vendor has property chain free crucially. 

F37A

RS2OOO said:

As a seller who's been stressed to the core due to buyers messing around / pulling out well into the process etc my advice would be to be honest about your intentions. 

It's a horrible process at the best of times and nobody needs a buyer who's not been up front about their intentions. In fact the way I feel at the moment if what you propose happened to me and I subsequently lost my onward purchase over it I'd be wanting to hunt you down.

By all means view the 2nd property but make your decision fast on which you are serious about.

Why is the seller taking an age to make progress? Are they struggling to find a property themselves, taking weeks to respond to basic enquiries, or something else?

What information are you trying to find regarding the lease on second property? If something specific can you not ask the relevant question?

The seller in question is super super picky on property to buy and inflexible due to the extreme. She thinks I'll just sit there losing money month after month and wait for her. For some sellers its a case of advertising a property for sale but no intention to carry out the process to sell and the buyer is just sitting there. 

I want to check that property is as advertised to check lease.

theartfullodger

Buy both.  No problem with doing that !

BikingBud

F37A said:

Hi 

Just a quick one, have an offer accepted on one property but seller taking an age to make progress. Now I want to offer on another property . Can I have the two offers accepted but not tell the agent / seller of the new property that I have offer accepted elsewhere?  On the second property I would like to take a peek at the lease before exiting purchase on first property but agent on 2nd property won't let me see lease until offer accepted on the 2nd property. If lease all good on second property then I want to exit property one purchase. My concern is that if I have offer accepted on property 2 then I'd have to exit property 1 purchase but then later may realise that property 2 lease not good - and so I would have to exit this purchase as well- so worst case I'll end up with no property.

Thanks

How can the EA expect you to make an honest offer if the vendor cannot provide details of the lease. Seems all a little Mickey Mouse (other comedy characters are available) to me

If they want to waste your time by playing games put in the offer subject to full disclosure and your satisfaction on the terms of the lease.

Schwarzwald

F37A said:

RS2OOO said:

As a seller who's been stressed to the core due to buyers messing around / pulling out well into the process etc my advice would be to be honest about your intentions. 

It's a horrible process at the best of times and nobody needs a buyer who's not been up front about their intentions. In fact the way I feel at the moment if what you propose happened to me and I subsequently lost my onward purchase over it I'd be wanting to hunt you down.

By all means view the 2nd property but make your decision fast on which you are serious about.

Why is the seller taking an age to make progress? Are they struggling to find a property themselves, taking weeks to respond to basic enquiries, or something else?

What information are you trying to find regarding the lease on second property? If something specific can you not ask the relevant question?

The seller in question is super super picky on property to buy and inflexible due to the extreme. She thinks I'll just sit there losing money month after month and wait for her. For some sellers its a case of advertising a property for sale but no intention to carry out the process to sell and the buyer is just sitting there. 

I want to check that property is as advertised to check lease.

If Prop1's Vendor is playing her options how/when to proceed, why don't you do the same? If above is a true reflection of what is going on, I would not have any morale hesitation to create alternatives and offer on Prop2.