When am I “proceedable”?

[itchyhand]

STBExH remortgage of the family home has just begun, his mortgage is going through and the bank valuation is 16th Sept. We’ve got the solicitors for the Transfer of Title and we’ve already been granted the Conditional Order in June.

When will estate agents consider me to be in a position to buy? Obviously I’m waiting on the equity of this house to use as a deposit on my house purchase so do I wait until I have that in hand or can I start looking now?

It depends on the estate agents & the sellers really. It’s quite competitive where we are so most sellers instruct their estate agent’s to only allow viewings for people who could literally put an offer in & get the ball rolling immediately if they were happy with a viewing, you wouldn’t meet the criteria for that because even if you LOVED it you aren’t in a position to proceed.

Some seller’s aren’t as bothered about getting a quick sale or in less competitive areas it’s not as big of an issue and estate agents would let you book viewings as long as you have a mortgage in principle.

I assume you can get a mortgage in principle decision if you know your equity amount for the deposit and your income etc so that will let you know where you go with your budget.

why not get that done, it’s only a soft credit check but if an estate agent asks you, you can tell them your circumstances which are strong - if you have a guaranteed deposit amount and a mortgage in principle agreed.

from my own situation im the opposite of you and am buying my ex out of the family home and my borrowing has been approved - I can request the money whenever I need it so I assume your ex is on the same position on that?

my ex will be able to use this money as a deposit as soon as I make it available to him and can buy somewhere without waiting for the divorce finalisation - he’s totally free to pursue his next house purchase.

I think if you are able to state you have a cash deposit of X % and an AIP you are a more desirable buyer than someone who will have a cash deposit once their divorce is finalised. And whilst I know you more or less have it finalised the word divorce in connection with purchase or sale of a property is an alarm signal. Which is of course not your fault and won’t apply to you situation.

The agent might ask for proof of funds and your position. For the sake of a few weeks I would personally wait until I am single woman with cash deposit no mention of a divorce.

Do you have an AIP or a broker lined up?