no formal response regarding offer on a house for 6 days.

[mum61]

I viewed house a week ago and made an offer of the asking price the next morning. I am under offer to buyers with no related sale who are living with family. (they have mortgage in principle )
My buyers don't want to have a survey until I have found and have an offer accepted.(I have been searching for 10 months in a market where demand exceeds supply and have lost out in bidding wars and lost a previous buyer because I took too long to find)
I dont need a mortgage and am funding from the sale of my house .
The sellers EA says I am the "front runner" and my offer is acceptable in principle but he needed to do due diligence on my buyers, he wants my buyer to have mortgage offer on my house before recommending his vendor to accept my offer. My buyer don't want to go ahead with a survey until I have an offer accepted.
Any advice gratefully received.

Your EA is taking the nickel. He absolutely does not need a mortgage offer from your buyers before the vendor can accept your offer. He's either hoping for a higher offer (and therefore more commission for himself), or he's trying to get you to send your buyer to his mortgage broker so he earns commission that way.

Can you put a note through the vendors door to make sure he's even put the offer to them?

Where are you based? Competition is so fierce in my area (South East, popular with commuter families) that some sellers aren't even seeing people where it would result in a chain. It's very much a seller's market so making you, as a buyer, jump through hoops and that being passed down the chain doesn't sound too unusual for me.

I agree with @buzzandwoodyallday
He doesn't need the details etc of your buyer, that's for your EA to sort.

I would say what you've said about the survey etc done on your house and if you don't hear by x date you'll be withdrawing the offer.

You’re on the back burner. They are waiting to see if something better comes along. I was you last summer, they prevaricated, faffed and dithered for weeks. In the end we got bored and moved on, they never found someone “better”. So had to sell it for less than what we had offered 🤷‍♀️. Yes, l laughed!

All he needs to know is that your buyer is procedable, which your own EA would have checked before taking your property off the market. I'd send them the name of your EA and have them clarify that your buyer is procedable.

I'd give them a timeline. Tell them the offer only stands for x days and they'll need to respond by then or you'll withdraw. They're blatantly holding out for a higher offer.

They're being sensible to be honest. They haven't committed to buying your house so you're still under offer, not sold STC.

@Ducksinthebath Im in the south east but im moving to cornwall (both hot market areas)
I could appreciate if the EA said my vendor just wants a cash buyer with no chain ....but not this no response , you are front runners but ..... for 6 days after an asking price offer.

@girlmom21 what is the difference between under offer and STC ??
I can't see any difference.

under offer = offer has been accepted by vendor

SSTC = the mortgage has been agreed and your well into the legal work.

@girlmom21 I have done all my legal work (I was ready to exchange with a previuos buyer who pulled out because I couldnt find a property) I got a new buyer immediately who didn't want to have survey done until I had an offer accepted because of the previous buyers experience...so im stuck now.

There really isn't any difference between under offer and sold, subject to contract. The terms mean exactly the same thing and are used interchangeably.

If you are committed to moving why not complete the sale of your current house before making an offer on a new one. Whilst demand outstrips supply no-one wants a buyer that is dependent on selling their own house

@anniegun

Because it is often difficult, expensive and inconvenient to complete on the sale of your existing property and move in to rented for a year (perhaps with a 6-month break clause)

Honestly if I was you I'd tell your buyers you're going to put your house back on the market because no seller will accept your offer without an actual buyer.

There’s no difference between under offer & SSTC - it means the same thing.

No it doesn't. Most EA's at the moment won't mark a property SSTC until you've proven your MIP and instructed a solicitor.

@anniegun I am relocating to Cornwall and demand is exceeding supply and prices are rising, I have been out bid 3 times . Rental accommodation is equally difficult to find and extortionately priced.
I am about to give up altogether tbh.

@girlmom21 My buyers have instructed a solicitor and have a MIP confirmed by their broker and lender ,but have not had a survey done yet as they wanted to wait until I had an offer accepted and the chain was complete (understandable as I have been searching for months and have been outbid on a few properties)

@girlmom21 I have an offer from buyers who have a mortgage in principle (they are investment bankers with large banks) with no related sale ,they are living with family after returning from working abroad.

Oh then he's being a twat and stalling. Sorry I misunderstood. I'd look at other properties.

@anniegun , I am relocating to cornwall and rental is cost prohibitive so wanted to synchronise my sale and purchase . Seems its not to be....

And tell your buyers that their lack of commitment is holding things up for you now. This might be the right time for them to have that survey done and to move on a step!

I agree they are waiting for a better offer. Say they need to decide within say 14 days on your offer or it will be withdrawn. 7 days even. Why are your buyers not going ahead with a survey. They sound as bad.

@girlmom21 I wish...
There is very little coming on, demand exceeds supply and i've been outbid 3 times so I have no choice but to be patient but its so stressful and is out of my control.