Emailing the estate agents for more information

Laurelii

My mortgage offer expires in 7 weeks. Could i email the estate agents i bought the house from and explain this and kindly ask if they can push things along or if they have any idea when exchange/ completion could be ? 

eddddy

I guess you mean you have had an offer accepted on a house that you want to buy.

You should definitely make sure the sellers know that your mortgage offer expires in 7 weeks, so they need to get moving - so tell the estate agent to pass that message on.

Is your solicitor comfortable that you'll be able to exchange and complete within 7 weeks? (They should be aware of your mortgage offer expiring, but it might be good to remind them.)

The estate agent can ask the sellers when they are hoping to exchange and complete, and get back to you.


A good estate agent should have been doing sales progression and be on top of all this stuff. (Or is the estate agent a budget online one?)

eddddy

I just had a look through your posting history - it looks like you're in a chain.

Everyone in the chain needs to exchange and complete at the same time - but every buyer and every solicitor needs to be ready.


So you should definitely make sure that the estate agent knows your mortgage offer expires in 7 weeks, and they should pass that info on to every other estate agent in the chain - and they should discuss it with each buyer/seller and encourage them to get moving.

As you probably appreciate, if your mortgage offer expires (and you can't get an extension), the whole chain will fall apart - nobody can buy or sell. So it's important that everyone in the chain understands your position.

Laurelii

eddddy said:

I just had a look through your posting history - it looks like you're in a chain.

Everyone in the chain needs to exchange and complete at the same time - but every buyer and every solicitor needs to be ready.


So you should definitely make sure that the estate agent knows your mortgage offer expires in 7 weeks, and they should pass that info on to every other estate agent in the chain - and they should discuss it with each buyer/seller and encourage them to get moving.

As you probably appreciate, if your mortgage offer expires (and you can't get an extension), the whole chain will fall apart - nobody can buy or sell. So it's important that everyone in the chain understands your position.

yes i asked the mortage advisor is an extention would be possible and they said they would have to issue another one

Laurelii

eddddy said:

I just had a look through your posting history - it looks like you're in a chain.

Everyone in the chain needs to exchange and complete at the same time - but every buyer and every solicitor needs to be ready.


So you should definitely make sure that the estate agent knows your mortgage offer expires in 7 weeks, and they should pass that info on to every other estate agent in the chain - and they should discuss it with each buyer/seller and encourage them to get moving.

As you probably appreciate, if your mortgage offer expires (and you can't get an extension), the whole chain will fall apart - nobody can buy or sell. So it's important that everyone in the chain understands your position.

Apparently the sellers seller is what's keeping things up. Apparently there going into rented accommodation but this has been a rumour for months and we have no other information other than they're allegedly moving into rented. If this is the case hopefully things start moving soon, but who knows.

I also made another post to get other people opinions on if the mortgage offer expires (and no extension) would the chain fall aprt. (This is now making me worry   )

I appreciate your reply and advice  

eddddy

So it sounds like the issue that's delaying the chain is that your seller's seller isn't getting their rented accommodation sorted.

So their estate agent needs to hassle them to get moving.

So the answer to your original question "When will exchange and completion be?" seems to be "when your seller's seller gets their act together and finds a place to rent".


But do you know why they are moving into rented?

FWIW, people often say they will move into rented to break a chain. But when they find out how much it costs, and all the complexities - they change their mind. And they decide to wait until they've found something to buy instead.


It's probably worth pushing your estate agent to find out more about your seller's seller's situation - and emphasise that your mortgage offer is expiring.

Laurelii

eddddy said:

So it sounds like the issue that's delaying the chain is that your seller's seller isn't getting their rented accommodation sorted.

So their estate agent needs to hassle them to get moving.

So the answer to your original question "When will exchange and completion be?" seems to be "when your seller's seller gets their act together and finds a place to rent".


But do you know why they are moving into rented?

FWIW, people often say they will move into rented to break a chain. But when they find out how much it costs, and all the complexities - they change their mind. And they decide to wait until they've found something to buy instead.


It's probably worth pushing your estate agent to find out more about your seller's seller's situation - and emphasise that your mortgage offer is expiring.

I don't know why they're moving to rented accommodation this is just what our sellers said. what does FWIW mean ? i have emailed the EA we got the house from and explained the mortgage issue but they haven't replied yet. I will give them a call this evening if they haven't replied by then,

[Deleted User]

FWIW = for what its worth

Thrugelmir

Doubt that there's been much movement in the past couple of weeks.  Hopefully everything will get back on track now the holidays are over. A lot can happen in 7 weeks. No need to get over concerned either. 

canaldumidi

Just to add: try to stick to a single thread so people can see the full story. You can always add new questions tothe original thread so all your background info is in one place....

https://forums.moneysavingexpert.com/discussion/6323850/mortgage-deed#latest

https://forums.moneysavingexpert.com/discussion/6323789/mortgage-offer-expires-chain-falls-apart#latest

https://forums.moneysavingexpert.com/discussion/6323802/when-would-be-the-best-time-to-get-another-mortgage-offer#latest

It's also in the forum rules.....

Laurelii

canaldumidi said:

Just to add: try to stick to a single thread so people can see the full story. You can always add new questions tothe original thread so all your background info is in one place....

https://forums.moneysavingexpert.com/discussion/6323850/mortgage-deed#latest

https://forums.moneysavingexpert.com/discussion/6323789/mortgage-offer-expires-chain-falls-apart#latest

https://forums.moneysavingexpert.com/discussion/6323802/when-would-be-the-best-time-to-get-another-mortgage-offer#latest

It's also in the forum rules.....

i am asking different question in each.