Page 7 | To be annoyed with these house sellers…

NewKidOnTheBlock99 · 2023-04-21T15:49:09+00:00

So I know I probably am being unreasonable but actually just need a vent. We put in an offer on a house earlier this week, we fell in love with it and offered £12k over asking. We met the sellers and got on like a house on fire. They took a lot of pride in the property and seem to want to take in to account who will be buying their house. I know there were another four offers but from what the EA would tell us we were the highest (all offers were asking price and above). The sellers haven’t found anywhere as they are moving to a different city so it’s just slower as they can’t just nip for viewings and our house is on the market but not sold (viewings are commencing next week) the EA told me when they had the viewing that they had more viewings booked in for this weekend but as they had, had so many this week plus offers they were looking to cancel and accept an offer before the weekend. I just felt in my gut the house was ours… Just heard from the EA that they are planning on commencing with viewings this weekend. AIBU to be a bit miffed? Can anyone who has sold before give me any possible insight to what they are thinking?! Surely you would want to be sold as quickly as possible and with solid offers on the table would pick one. Especially as you have a couple of offers over asking?!

Beetrootlover82 · 23/04/2023 06:28

Abacusporttaco · 23/04/2023 06:09

Love self important posts like these. 🫢

Show quote history

Can you imagine the reality of this? It would be for curlingly embarrassing but also very funny!

I get a whiff of David Brent about this poster!

Beetrootlover82 · 23/04/2023 06:29

Sunny24 · 23/04/2023 01:13

@Beetrootlover82 is spot on

Show quote history

We’re all dicks and Debbie downers unless we’re “hooray OP” with this one 😂

GoodChat · 23/04/2023 06:50

Beetrootlover82 · 23/04/2023 05:53

How come your first 8 viewings all booked for next week and zero for this weekend? No one wanted to view this weekend?

Presumably OP wants viewings when she's not in the house, or the EA only had someone available for the viewings next week.

Original poster

NewKidOnTheBlock99 · 23/04/2023 07:49

WineIsMyMainVice · 22/04/2023 14:01

A really good solicitor once advised me to put the offer in writing stating the name of the solicitor you have instructed to act on your behalf. Also state that your mortgage is in place.
It just means that you are serious and wanting to proceed. It worked for us.
Good luck op.

This is great advice! Thank you! We sent a letter from our mortgage broker confirming we could afford what we were offering, she kindly sent breakdown of funds etc but didn’t think of sending solicitors details

OP posts:

charabang · 23/04/2023 08:35

OP you need to get uour viewings started NOW. Your vendors are not going to consider your offer seriously until they can see what the chain looks like. You may get a cash buyer, FTB or someone who has to sell theirs too.
Remember getting an offer accepted is a far cry from a successful house purchase. You only have to check out the property boards to see what a bumpy journey it can be.
Good luck, let us know how you get on.

GoodChat · 23/04/2023 08:38

Can you afford what you've offered without selling your house? If you can't, no amount of letters will make a difference.

Beetrootlover82 · 23/04/2023 09:12

GoodChat · 23/04/2023 06:50

Presumably OP wants viewings when she's not in the house, or the EA only had someone available for the viewings next week.

Show quote history

Yes but from the vendors pov - not a single viewing has even taken place. And none for the following weekend that the OP put in the offer on.

FTStheFirstTimeSeller · 23/04/2023 09:21

Beetrootlover82 · 23/04/2023 09:12

Yes but from the vendors pov - not a single viewing has even taken place. And none for the following weekend that the OP put in the offer on.

Show quote history

Yeah. I had people interested who were just about to go on a market and I said no to even viewings. Tbf I didn't want a chain anyway, but even if I did, there is no point. It's kind of like accepting offers from people who just bet lottery.
There are usually buyers who are more proceedable and with no chain or at least a chain already.

As pp said, no amount of letters will make a difference if you have to first manage to find buyer for your house.

GoodChat · 23/04/2023 10:20

Oh I agree @Beetrootlover82, I was just answering the question as to why next week and not this weekend

Original poster

NewKidOnTheBlock99 · 23/04/2023 11:04

charabang · 23/04/2023 08:35

OP you need to get uour viewings started NOW. Your vendors are not going to consider your offer seriously until they can see what the chain looks like. You may get a cash buyer, FTB or someone who has to sell theirs too.
Remember getting an offer accepted is a far cry from a successful house purchase. You only have to check out the property boards to see what a bumpy journey it can be.
Good luck, let us know how you get on.

They are starting tomorrow! This thread has been helpful, it’s opened my eyes a bit as never been through this type of house buying process before. Thanks for the well wishes 🙂 will look at the property boards!!

OP posts:

Original poster

NewKidOnTheBlock99 · 23/04/2023 11:05

GoodChat · 23/04/2023 08:38

Can you afford what you've offered without selling your house? If you can't, no amount of letters will make a difference.

We need the sale! Question, i am assuming it is from all the comments but is it normal to exchange on the property you are selling without finding somewhere to buy?

OP posts:

MrsSkylerWhite · 23/04/2023 11:07

We wouldn’t accept an offer from people who hadn’t sold yet, could take months.

FTStheFirstTimeSeller · 23/04/2023 11:08

NewKidOnTheBlock99 · 23/04/2023 11:05

We need the sale! Question, i am assuming it is from all the comments but is it normal to exchange on the property you are selling without finding somewhere to buy?

Show quote history

There is still loads of time for exchange.
Both my buying/selling took 2+ months to exchange🙄 No chain in either. Usually people are happy to exchange without upward purchase if they can move somewhere temporarily. Otherwise you go through process simultaneously kind of.

Original poster

NewKidOnTheBlock99 · 23/04/2023 11:14

MrsSkylerWhite · 23/04/2023 11:07

We wouldn’t accept an offer from people who hadn’t sold yet, could take months.

At what point in the process is a property considered sold?

OP posts:

GoodChat · 23/04/2023 11:18

@NewKidOnTheBlock99 when you've got a buyer who's appointed a solicitor and with an AIP.

GoodChat · 23/04/2023 11:19

GoodChat · 23/04/2023 11:18

@NewKidOnTheBlock99 when you've got a buyer who's appointed a solicitor and with an AIP.

Question, i am assuming it is from all the comments but is it normal to exchange on the property you are selling without finding somewhere to buy?

Just saw this response to me, sorry, you don't need to have exchanged, just the above

CatOnTheChair · 23/04/2023 11:19

Some people exchange without having sorted a purchase - but they have somewhere to go. Either a rental or family usually.

"Sold" in terms of looking for an onwards purchase? Buyer in place with solicitor and proof of funds.
"Sold" in terms of "this is absolutly going to happen" - exchange. Which in our case was about an hour before we owned the house. More sensibly it would be a week or two before owning the house.

Original poster

NewKidOnTheBlock99 · 23/04/2023 11:22

Got it! Thanks @GoodChat @CatOnTheChair super helpful :)

OP posts:

Treesoutsidemywindow · 23/04/2023 11:24

NewKidOnTheBlock99 · 23/04/2023 11:05

We need the sale! Question, i am assuming it is from all the comments but is it normal to exchange on the property you are selling without finding somewhere to buy?

Show quote history

No it is NOT normal to exchange contracts before finding somewhere to buy OP, as you could end up homeless, unless of course you're in a position to rent, but I wouldn't honestly do that, as renting is really money down the drain when you're already a home owner. The process to be clear is - put house on the market, find a buyer who is in a proceedable position, ie, they are genuine 'cash' buyers, with money in the bank that can be seen by a mortgage advisor, or they have a buyer for their own property. Ideally though, you want someone who has not only got a buyer for their property, but everyone below them also has a buyer, until it gets down to a first time buyer, or a cash buyer. Once this is all lined up, and all the solicitors have done the various enquiries, they will then 'Exchange Contracts'. This is where you pay the deposit, which when you already own a home, is usually agreed as a percentage of your sale, but you don't need to worry about that one, the solicitors sort that bit out. Once you have exchanged contracts, you are legally bound to move out of your property, so if you don't have a house lined up to buy, you would then have to move out regardless. Hope this clarifies it all for you. Feel free to PM me if you have any questions.

MrsSkylerWhite · 23/04/2023 11:29

NewKidOnTheBlock99 · Today 11:14

At what point in the process is a property considered sold”

Completion. Would consider offers once people had exchanged, though.

The Scottish system is far more sensible. Both parties are committed on exchange.

CrotchetyQuaver · 23/04/2023 11:38

When your own house is under offer then you're in a good position, you aren't at the moment. Not unreasonable for them to keep looking for a buyer like that.

OddBoots · 23/04/2023 14:23

The question about what is considered sold is a good one as it will apply to the people from whom you wish to buy too if they find a property they want - if they have accepted your offer but you have not yet got a complete chain below you their offer may be rejected.

Original poster

NewKidOnTheBlock99 · 23/04/2023 15:06

OddBoots · 23/04/2023 14:23

The question about what is considered sold is a good one as it will apply to the people from whom you wish to buy too if they find a property they want - if they have accepted your offer but you have not yet got a complete chain below you their offer may be rejected.

This is great to know, thanks! I think with our sale I wouldn’t have thought too much about who bought ours and wouldn’t have had qualms letting someone buy who hadn’t sold etc but good to know it might make us a bit more desirable to have a Cash/FTB!

OP posts:

Original poster

NewKidOnTheBlock99 · 23/04/2023 15:06

Treesoutsidemywindow · 23/04/2023 11:24

No it is NOT normal to exchange contracts before finding somewhere to buy OP, as you could end up homeless, unless of course you're in a position to rent, but I wouldn't honestly do that, as renting is really money down the drain when you're already a home owner. The process to be clear is - put house on the market, find a buyer who is in a proceedable position, ie, they are genuine 'cash' buyers, with money in the bank that can be seen by a mortgage advisor, or they have a buyer for their own property. Ideally though, you want someone who has not only got a buyer for their property, but everyone below them also has a buyer, until it gets down to a first time buyer, or a cash buyer. Once this is all lined up, and all the solicitors have done the various enquiries, they will then 'Exchange Contracts'. This is where you pay the deposit, which when you already own a home, is usually agreed as a percentage of your sale, but you don't need to worry about that one, the solicitors sort that bit out. Once you have exchanged contracts, you are legally bound to move out of your property, so if you don't have a house lined up to buy, you would then have to move out regardless. Hope this clarifies it all for you. Feel free to PM me if you have any questions.

Show quote history

This is super helpful!!! Thank you, very kind of you 🙂

OP posts:

Treesoutsidemywindow · 23/04/2023 17:18

Glad I was able to help OP!