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  • FIRST POST
    • michbright
    • By michbright 7th Jan 18, 11:26 PM
    • 444Posts
    • 1,933Thanks
    michbright
    Estate Agent pushing solicitor
    • #1
    • 7th Jan 18, 11:26 PM
    Estate Agent pushing solicitor 7th Jan 18 at 11:26 PM
    Hi,

    This is my first post on this board, which I'll try to make as brief as possible.

    My husband and I were not looking to buy a house at all, until my mother unexpectedly put her property on the market and was offered asking price within the space of a week in October last year! We were suddenly then given the option of buying a house with 50% gifted deposit. Luckily we found one, but we don't have the best credit history, with the added complication that I am self-employed and my husband started working with his current employer in July. We are being advised by a mortgage broker and were told to wait until he's been with his employer 6 months before we can apply, as well as pay off some credit cards to bring our debt ratio down, which we have done. The creditors have not all reported this to the credit referencing agencies, so on paper it looks as though we still owe a lot between us, which we don't. Everyone has been willing to wait for our mortgage application as by a pure coincidence, my husband knows the seller (a fact we did not know until we knocked on the door to view the property!).

    My issue is this: the seller's estate agent and solicitor is pushing us to get all the legal work done BEFORE we apply for our mortgage. I even had a phone call from them, stating that they had heard 'Chinese whispers' around the office saying we can't get a mortgage . I was obviously fuming when I received this phone call.

    Our solicitor has been very good in keeping them at bay, but we are now in the position where the estate agent is threatening to advise the seller to pull out of the sale if we do not start the ball rolling regarding searches, etc, before we've secured our mortgage. The estate agent also acts on behalf of the vendor for the property our seller is wanting to by and he is saying they want to complete by the beginning of February, which obviously is not achievable and even less so if we pull out of the purchase now.

    Can the estate agent/seller's solicitor force us to apply for searches now? I obviously don't want to incur these expenses, just in case we aren't able to get a mortgage.

    Everyone involved (apart from the estate agent) has been happy to wait so far and no one has at any stage threatened to pull out (apart from the estate agent!).

    I do tend to worry a lot about things like this .
    Last edited by michbright; 07-01-2018 at 11:30 PM.
Page 1
    • csgohan4
    • By csgohan4 8th Jan 18, 7:47 AM
    • 4,540 Posts
    • 2,835 Thanks
    csgohan4
    • #2
    • 8th Jan 18, 7:47 AM
    • #2
    • 8th Jan 18, 7:47 AM
    EA can Jog On, you will buy at your own pace, as long as the vendor is happy with it. The EA doesn't have your interests to hand, in fact they probably want their commission before the tax year ends in April probably.
    "It is prudent when shopping for something important, not to limit yourself to Pound land"
    • AnotherJoe
    • By AnotherJoe 8th Jan 18, 8:43 AM
    • 9,599 Posts
    • 10,669 Thanks
    AnotherJoe
    • #3
    • 8th Jan 18, 8:43 AM
    • #3
    • 8th Jan 18, 8:43 AM
    It sounds as if this may not be the house for you if the vendor will likely be impatient and put it back on the market if you aren!!!8217;t applying for a mortgage. If you!!!8217;ve been advised to wait until ? February? to apply for one I don!!!8217;t think you should have been making offers on houses. Looking, yes, offering, no.

    To answer your question, no the EA obviously cannot force you to get legal work done but look at it from their POV they are trying to please their vendor who is their customer not you, and from their and the vendors POV you!!!8217;ve made an offer and now are doing nothing.

    Does the vendor know that you are waiting to apply until the 6 months is up? If so, and if they know the reason for that, that it!!!8217;s possible you might not be able to get a mortgage, in which case having another buyer lined up might be prudent. Nothing you can do except wait.
    • ACG
    • By ACG 8th Jan 18, 9:53 AM
    • 17,025 Posts
    • 8,916 Thanks
    ACG
    • #4
    • 8th Jan 18, 9:53 AM
    • #4
    • 8th Jan 18, 9:53 AM
    I see no reason why you would instruct solicitors before getting a Mortgage offer.
    But the agent is right, you are currently (going off what you have said) not in a position to buy this property - until your husband has been in the job 6 months.

    So you have a choice, come clean and tell them you can submit an application until a certain date or start the legal work.

    I am rarely on the side of an agent, but in this case I can see their point. You are dragging your feet and they want to see some commitment from you.
    I am a Mortgage Adviser
    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.
    • Wobblydeb
    • By Wobblydeb 8th Jan 18, 10:09 AM
    • 963 Posts
    • 1,444 Thanks
    Wobblydeb
    • #5
    • 8th Jan 18, 10:09 AM
    • #5
    • 8th Jan 18, 10:09 AM
    I can understand their concern - both agents we have dealt with recently would not have recommended your offer without the mortgage offer being in place.

    What happened when your offer was accepted? Did the agent ask to see evidence of your deposit and mortgage? Were they aware of your position re the 6 months?
    I've got a plan so cunning you could put a tail on it and call it a weasel.
    • michbright
    • By michbright 8th Jan 18, 10:59 AM
    • 444 Posts
    • 1,933 Thanks
    michbright
    • #6
    • 8th Jan 18, 10:59 AM
    • #6
    • 8th Jan 18, 10:59 AM
    Briefly, we put the offer in, which was accepted. The EA and the vendor both knew we needed to apply for a mortgage, which happened that same week. When the DIP came back as referred due to my husband having not been in his job for long, we immediately told the vendor and the EA and the vendor has always been happy to wait. They didn't have to wait, it was always their choice.

    As for deposit, this will come from the sale of my mother's property, and they have got confirmation from our solictior and her estate agent selling her property that this is the case. We have been open and honest right from the start. Everyone has known the position from Day 1, which is why I'm annoyed with the EA now as we have always been transparent about everything. We have never lied or tried to hide anything during the process at all. If the vendor wanted to pull out, they could have done so at any stage.
    • michbright
    • By michbright 8th Jan 18, 11:02 AM
    • 444 Posts
    • 1,933 Thanks
    michbright
    • #7
    • 8th Jan 18, 11:02 AM
    • #7
    • 8th Jan 18, 11:02 AM
    So you have a choice, come clean and tell them you can submit an application until a certain date or start the legal work.
    Originally posted by ACG
    This is just it - we told them from the first week that this is the case, it's not a matter of us dragging our heels for the last 2 months, hoping they wouldn't notice. We told them right from the very beginning that we had to wait until January and asked if the vendor would be willing to wait, to which they have said yes, they are.

    We have got a solicitor in place, it is just literally a matter of waiting for the mortgage now.
    • michbright
    • By michbright 8th Jan 18, 11:03 AM
    • 444 Posts
    • 1,933 Thanks
    michbright
    • #8
    • 8th Jan 18, 11:03 AM
    • #8
    • 8th Jan 18, 11:03 AM
    Does the vendor know that you are waiting to apply until the 6 months is up? If so, and if they know the reason for that, that it!!!8217;s possible you might not be able to get a mortgage, in which case having another buyer lined up might be prudent. Nothing you can do except wait.
    Originally posted by AnotherJoe
    Vendor has known from the start that this is the case and because she works with my husband, it wouldn't be easy to hide if we did have something to hide, which we don't.
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