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Seller pulled out...mortgage offer delays HSBC
confusedftb
Posts: 91 Forumite
Hello,
Our offer got approved on a property. We applied for the full mortgage, and it has been 3.5 weeks, HSBC has been asking questions and questions. This will be our second home, the first one to go on consent to let. No chain.
The seller somehow got frustrated and pulled out of the deal and sold it to another buyer who is in a chain and does not even have a seller for their current home. So the delays there will be longer.
The call i got from the estate agent, i was told that the other buyer somehow managed to convince the seller on phone to sell it to them... not sure how it works... i even tried to offer 2.5k more to seller but he declined saying that they have given their word to the other buyer. But did he not give his word to us, to sell it to us?
I am really in a no-mans-land at the moment and dont know what to do...
The only hope is to get the mortgage offer quickly and then approach the estate agent with the offer to proceed. but not even sure if the seller will agree or not.
What should i do?
Our offer got approved on a property. We applied for the full mortgage, and it has been 3.5 weeks, HSBC has been asking questions and questions. This will be our second home, the first one to go on consent to let. No chain.
The seller somehow got frustrated and pulled out of the deal and sold it to another buyer who is in a chain and does not even have a seller for their current home. So the delays there will be longer.
The call i got from the estate agent, i was told that the other buyer somehow managed to convince the seller on phone to sell it to them... not sure how it works... i even tried to offer 2.5k more to seller but he declined saying that they have given their word to the other buyer. But did he not give his word to us, to sell it to us?
I am really in a no-mans-land at the moment and dont know what to do...
The only hope is to get the mortgage offer quickly and then approach the estate agent with the offer to proceed. but not even sure if the seller will agree or not.
What should i do?
0
Comments
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"The only hope is to get the mortgage offer quickly and then approach the estate agent with the offer to proceed. but not even sure if the seller will agree or not."
Appears a sensible approach for now.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.3 -
Sounds as if your vendor has pulled out. Move on and find another property. You are most likely not getting the full story.6
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Sadly you're not in no-mans land. You're back in your trenches.
Start again - and now you're very clear that someone's word is worth exactly zilch in our diabolical house buying system.1 -
what could be the full story? i tried offering more, but the seller said no money can make him change his word to the other buyerHoenir said:Sounds as if your vendor has pulled out. Move on and find another property. You are most likely not getting the full story.
not sure what association or convincing has the other buyer did... any thoughts?0 -
None at all. Wouldn't waste your time and energy any further. Don't take it personally either.confusedftb said:
what could be the full story? i tried offering more, but the seller said no money can make him change his word to the other buyerHoenir said:Sounds as if your vendor has pulled out. Move on and find another property. You are most likely not getting the full story.
not sure what association or convincing has the other buyer did... any thoughts?2 -
you are right. i am completely shocked that the seller would change his mind just because its taken 3.5 weeks. not that he is in a chain or a rush. hes retired and moving out of the place. such bad commitment.robatwork said:Sadly you're not in no-mans land. You're back in your trenches.
Start again - and now you're very clear that someone's word is worth exactly zilch in our diabolical house buying system.
thank god that the solicitors did not do the searches and etc, otherwise i would have been out of pocked as well.
although the lender did their valuation, so might have to pay for valuation for the next one.
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Hoenir said:
None at all. Wouldn't waste your time and energy any further. Don't take it personally either.confusedftb said:
what could be the full story? i tried offering more, but the seller said no money can make him change his word to the other buyerHoenir said:Sounds as if your vendor has pulled out. Move on and find another property. You are most likely not getting the full story.
not sure what association or convincing has the other buyer did... any thoughts?
to be honest, i did get a little offended and took it personally. but after a day i moved on.
i have found another property now, slightly more expensive around 50k, but its beautiful. but on the same road as the cemetery
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Be dead quiet at night.confusedftb said:Hoenir said:
None at all. Wouldn't waste your time and energy any further. Don't take it personally either.confusedftb said:
what could be the full story? i tried offering more, but the seller said no money can make him change his word to the other buyerHoenir said:Sounds as if your vendor has pulled out. Move on and find another property. You are most likely not getting the full story.
not sure what association or convincing has the other buyer did... any thoughts?
to be honest, i did get a little offended and took it personally. but after a day i moved on.
i have found another property now, slightly more expensive around 50k, but its beautiful. but on the same road as the cemetery6 -
Just a quick update if this will help anyone.
After lots of queries and etc etc from HSBC we got the offer yesterday.
An email came through and a text message with the password.
Now there is offer from the lender but no home, but glad that the process will be easier now.3 -
The other buyer has not even sold their own house? The seller sounds a bit delusional to be honest, can you find another house to buy?confusedftb said:
what could be the full story? i tried offering more, but the seller said no money can make him change his word to the other buyerHoenir said:Sounds as if your vendor has pulled out. Move on and find another property. You are most likely not getting the full story.
not sure what association or convincing has the other buyer did... any thoughts?1
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