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AIBU?

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

35 replies

mum61 · 26/04/2022 13:51

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.

OP posts:
Mildura · 26/04/2022 16:30

It's quite normal not to go ahead with surveys/mortgage application until the chain is complete.

Potentially you incur costs of a few thousand pounds without the comfort of a complete chain.

mum61 · 26/04/2022 16:33

@Viviennemary I think that what I will have to do.
My buyers know I have been searching for months and have been outbid a few times in a hot market and that my previous buyers got fed up of waiting and pulled out.
So they thought wait for me to find before financial outlay...

OP posts:
mum61 · 26/04/2022 16:36

@Mildura Yes I see that, unfortunately in a hot market where demand exceeds supply the vendors of the house I want don't seem to be keen to accept my offer of the asking price if my buyers aren't committed so i'm between a rock and a hard place....

OP posts:
kgov1 · 26/04/2022 16:37

Surely your buyer has a mortgage in principle which won't be dependent on the survey. Would that appease your seller?

mum61 · 26/04/2022 16:38

@kgov1 Apparently not .

OP posts:
girlmom21 · 26/04/2022 16:40

I'd tell the EA your buyer has instructed the survey. He can't check. As soon as your offer is accepted they'll instruct it anyway.

Mildura · 26/04/2022 16:46

kgov1 · 26/04/2022 16:37

Surely your buyer has a mortgage in principle which won't be dependent on the survey. Would that appease your seller?

Not necessarily.

It will be dependent on going through a full mortgage application, which may also include a valuation of the property.

BeautifulDragon · 26/04/2022 16:48

EL8888 · 26/04/2022 14:27

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!

We had similar a few years ago. We withdrew our offer and quickly had an offer accepted on another (better!) house. I really enjoyed receiving a begging voicemail from the EA a week later. Grin

I'd write it off and keep looking OP. As annoying as it is, these things always work themselves out.

gogohm · 26/04/2022 16:50

We didn't accept our buyer until the estate agent checked them out, this took 2 weeks (mortgage in principle plus proof of savings in country, she had money overseas)

mum61 · 26/04/2022 17:39

Thank you for all the responses .
I finally got a response from the EA ,the vendor decided to continue viewings for the rest of this week to see if he can get a cash buyer . He hasn't said no to my offer but because I am under offer to buyers who need a mortgage he is going to wait and see if he can get a better buyer ie; cash.
Feeling gutted but at least I know.

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