Estate agent cancelled house viewing

jennifernil

When you need/want to be in a specific area, I think it is much more difficult to move, especially if it is a very popular area where options are limited and houses sell quickly.

Our daughter in Glasgow was very happy with her house, had chosen the kitchen and bathrooms, liked the area, but as a new build then 5 years old, it was excluded from the catchment area of the school she wanted her children to attend, and which, even if in the catchment, has a long waiting list, so children need to be added to the list very soon after birth.

As a move was by choice, not need, she did not want to be “homeless” by selling before buying.

When baby no. 1 was only 2 months old, a property she could just afford, only 350m away but in the catchment, came on the market, so they viewed and decided to offer, her own house was not on the market but similar properties were selling well. The seller was flexible but preferred someone who would be able to move quickly. She offered 4% over home report with entry as soon as they wanted and her offer was accepted over the highest offer which was £22k more.

This was only possible as fortunately she has a considerably older brother who would be able to help with a “bridging loan” if necessary, and we could help short term with the additional tax, so not TOO much stress! In the end it took 3 months after she actually took ownership to get her house sold as suddenly several houses in her area came on the market, so she had 2 mortgages to pay for a while. Up side was she was able to make most of the necessary changes to the new house before moving in.

I believe the OP is also in Scotland? Chains have not been common here in the past, but with increasing house prices they are becoming more usual, but it has not been usual for agents to refuse viewings just because you have not sold an existing property. If you cannot view how can you know whether you would want to make an offer? And when properties are selling fast and the system is “offers over”, you could miss out on lots of properties.

Things do seem to move much faster up here, 6-8 weeks for conveyancing is not unusual, and missives are binding once signed, so there is less pulling out of purchases than in England, but a longer entry date can be negotiated if required.

sheramber

https://forums.moneysavingexpert.com/discussion/comment/81860259#Comment_81860259

If the person had not sold then I would not accept an offer from them.

I was told my buyer’s buyer would get a mortgage. This was from his mortgage adviser. It was just a delay in the paperwork going through.

He did not get a mortgage so I would have lost a definite sale.
A bird in the hand is worth two in the bush

Get your house sold than you are in a position to proceed with a purchase.

As you mention a Home Report I presume you are aware that houses in Scotland can change hands very quickly.

I got the house I offered on because I was able to proceed. My seller needed entry in 4 weeks.

saajan_12

https://forums.moneysavingexpert.com/discussion/comment/81860259#Comment_81860259

You apparently!

The point is the guy offering 30k more sounds like he's desperately trying to be chosen because rationally he wouldn't be. So its not a real 30k, its imaginary.

https://forums.moneysavingexpert.com/discussion/comment/81860292#Comment_81860292

Poor comparison, 9 months is the extreme, the average is half that, plus you're saving the mortgage interest plus you gain interest on whatever cash you have in the bank from the house sale. I'm not even recommending breaking the chain, I'd just start out getting your house under offer and then look for purchases. The renting is just a worst case scenario, as its better than your plan to never move or pay 30k extra.

gadget88

I asked about a bridging loan that’s high risk maybe they expect me to do that to buy that area given it’s happened a few times

gadget88

They did say a landlord might sell though