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Moving House
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I often reply to posts but don't often start them. Not that this is important but it might go some way to show how confused I am!
Right, I'll try and keep it brief... my parents are selling their house. When they sell it, we are all moving to a big house in the country. 3 and a half weeks ago they accepted an offer on their house. The weekend after they did this we all found our dream home. It's empty and been on the market a while and owned by a company who want to sell it quick.
Since this happened we have got a mortgage in place for our half of the house, paid for a survey and got a solicitor. My parents have a solicitor for their sale. The problem is, whilst our purchase seems to be fast, my parent's buyers seem to have 'disappeared'. When their offer was accepted it was on the understanding that they would not 'mess around' (the offer was a lot lower than my parents wanted for the house) and it would be a 'buy as seen' purchase. They heard nothing for a week so phoned the estate agent who found out they were 'shopping for mortgages'. Nothing for a few days, then we discovered they had found a lender so we went ahead with a mortgage/ survey for the country house.
Since we went to the bank, our mortgage has been agreed, the survey done and a lot of paper work has come through from solicitors etc. My parents buyers do not seem to have commissioned a survey as a week and a half on, no one has phoned to book one with the estate agent on my parent's house. When the estate agent phoned the female of the couple said she did not deal with it, her partner does and he'd phoned back 'but it's only 3 days since you last phoned'.
I have told my parents to stop seeming quite so desperate for the sale but am finding it increasingly odd myself. Maybe it's because our potential purchase is so fast and we're measuring that by the sale but the only real 'commitment' my parents have had was the original verbal agreement and nothing else. Obviously, we can't buy until my parents have sold as we can't afford it alone. Does this sound odd to anyone? Or is it just that some people are slower? It's nearly 4 weeks since the offer was accepted and since then NOTHING appears to have been done about buying the house. My Dad wonders if they have several offers on the go - but how would that benefit them? Also, how would not admitting they are no longer interested IF that were the case benefit anyone? Is there someone on here who knows the process very well who can shed some light on my increasingly doubtful mind? The buyers are first time buyers whose parents seem very involved in the negotiations and deposit. I wonder if the slight desperation on my parent's side has made them wonder if they will get more money knocked off if they drag their feet.... Or maybe they really are just waiting for the mortgage to go through and the company is being slow (Yorkshire, I think?)
Wow. This is long. Sorry! Thanks for anyone who gets through it and even more for anyone who can advise.
Right, I'll try and keep it brief... my parents are selling their house. When they sell it, we are all moving to a big house in the country. 3 and a half weeks ago they accepted an offer on their house. The weekend after they did this we all found our dream home. It's empty and been on the market a while and owned by a company who want to sell it quick.
Since this happened we have got a mortgage in place for our half of the house, paid for a survey and got a solicitor. My parents have a solicitor for their sale. The problem is, whilst our purchase seems to be fast, my parent's buyers seem to have 'disappeared'. When their offer was accepted it was on the understanding that they would not 'mess around' (the offer was a lot lower than my parents wanted for the house) and it would be a 'buy as seen' purchase. They heard nothing for a week so phoned the estate agent who found out they were 'shopping for mortgages'. Nothing for a few days, then we discovered they had found a lender so we went ahead with a mortgage/ survey for the country house.
Since we went to the bank, our mortgage has been agreed, the survey done and a lot of paper work has come through from solicitors etc. My parents buyers do not seem to have commissioned a survey as a week and a half on, no one has phoned to book one with the estate agent on my parent's house. When the estate agent phoned the female of the couple said she did not deal with it, her partner does and he'd phoned back 'but it's only 3 days since you last phoned'.
I have told my parents to stop seeming quite so desperate for the sale but am finding it increasingly odd myself. Maybe it's because our potential purchase is so fast and we're measuring that by the sale but the only real 'commitment' my parents have had was the original verbal agreement and nothing else. Obviously, we can't buy until my parents have sold as we can't afford it alone. Does this sound odd to anyone? Or is it just that some people are slower? It's nearly 4 weeks since the offer was accepted and since then NOTHING appears to have been done about buying the house. My Dad wonders if they have several offers on the go - but how would that benefit them? Also, how would not admitting they are no longer interested IF that were the case benefit anyone? Is there someone on here who knows the process very well who can shed some light on my increasingly doubtful mind? The buyers are first time buyers whose parents seem very involved in the negotiations and deposit. I wonder if the slight desperation on my parent's side has made them wonder if they will get more money knocked off if they drag their feet.... Or maybe they really are just waiting for the mortgage to go through and the company is being slow (Yorkshire, I think?)
Wow. This is long. Sorry! Thanks for anyone who gets through it and even more for anyone who can advise.
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I've only lived in the one house all my life so don't have any personal experience on this. However my friend recently bought a house with her bf as first time buyers and the process of actually getting the mortgage agreement throught took them well over a month. This could be what the hold up is if they are first time buyers....but ten again they might just be playing some sort of game. Sorry Cant be of more help.
My girlfriend and her sister inherited their fathers house when he passed away in January 2006. Due to probate etc, things took a long time and they were finally able to put it on the market this July.
The house went on the market as a formal tender, and all tenders were to be submitted to the Estate Agent or Supervisor, along with a signed contract and a 10% deposit by bankers draught, by the end of July. At this time they still felt it was inappropriate to begin making offers on houses they would each like to be, as due to the nature of the house they were selling it was impossible to tell how long things would take.
The day comes and they get an offer which is within the region of money they wanted, and all seemed fine. They were given a completion date and within days they had both found houses that they wanted and made an offer on. Surveys and searched were then commissioned and everything seemed to be going fine.
Suddenly, a few days before their sale was to complete, we hadn't heard anything and then on the day of completion it turned out that the guy was having trouble with his mortgage. Unfortunately his lender would not lend him the full amount because there was a workshop as part of the property which ONCE, but NO LONGER was used for commercial purposes! Fortunately for us and them, after a few weeks they did manage to secure the funds and a big sigh of relief was breathed this week as we handed the keys over to the lovely couple on Thursday afternoon and my girlfriend can now go ahead on the purchase of our new home!
But guess what.... The vendor is on holiday for the next week! :rolleyes: