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Original poster

Mortgage offer ready but sellers haven’t found a house !

18 replies

Zara84 · 02/08/2023 10:15

Hi all

I am in process of buying a house and this process of getting all paper worK sorted etc started in feb - I now have my mortgage offer ready to go and all enquiries by solicitor are
complete, we have visited the property twice and I now asked for a 3rd visit to get an idea of what furniture etc I will need and I was told the sellers are still looking at properties.

no one mentioned this earlier and we were given the impression all is in progress as should be.

I am now very confused and quite annoyed as our mortgage offer expires in 6 months and we were given the impression all was going well. Anyone been in a similar position ?

i have been told they do want to sell but are still looking and can’t give any timescales.

any advice?

OP posts:

Ijustfeellost · 02/08/2023 10:17

I don’t think this is your issue, everytime ive completed we’ve moved out, whether that be to a travelodge, a rented property, new mortgaged home etc.

it’s quite common for people to have sold their house but not found their next just yet.

Unless they’ve stated you can’t complete until they’ve found a home then I’d worry.

Original poster

Zara84 · 02/08/2023 10:26

Thanks for your message I am worried they may pull
out as I understand they have the right to do so.

we are currently renting with 2 small children and I soon return to work from mat leave and really need an office ! Just getting really worried!

OP posts:

Ijustfeellost · 02/08/2023 10:34

Any seller can pull out at any moment unfortunately, it’s just how it goes I’m afraid that’s why buying is often so stressful.

Ask your solicitor their expected time frame until completion (you exchange contracts and sale is complete) and if this will be held up by the fact the seller hasn’t found their next property yet.

I assure you it’s very common, almost no-one has offers accepted if their house is still on the market (unsold), as they can’t proceed in the sale in most cases. They’re now in a great position as you’re chain-free. Take a deep breath and know this is common.

CornishGem1975 · 02/08/2023 10:36

So many sellers do this, and like you've said, pull out when they don't find something. The system is screwed.

flipent · 02/08/2023 11:01

6 months left before expiry on a mortgage offer seems like a lot.
Most I've been looking at will only fix the offer for 3 months.
I'm not sure what you're surprised / worried about. Without an offer, how did you expect them to offer on a new property?

Original poster

Zara84 · 02/08/2023 13:29

Thanks all for your responses - I will try and stay positive am a first time home buyer so maybe my expectations are out of whack! And I am worried mostly bcoz I know the sellers listed the property before and then removed off market and then also they did say they were In a chain and now I’m hearing they are looking for a property so I’m just confused

thank you all keeping fingers crossed will work out

OP posts:

Crazydoglady0 · 05/08/2023 14:47

I don't think your expectations are unreasonable, I think you should have been told of the seller's situation much earlier than this, although not sure if this is volunteered as we specifically asked. We are in the process of selling and buying a house, our house sale is due to complete next month but our sellers are still looking for a property (they did have one but there were too many issues on the survey so pulled out). We have said we will move in with family in the meantime to not lose our buyer but obviously we're concerned in case our sellers can't find anywhere or decide against selling their house. They sold their house 2 years ago then took it off the market as well and like you we have been given random bits of info from the estate agent about their circumstances which make no sense. We have the same that our mortgage offer expires in 6m and we also need to complete in 6m to get our ported mortgage rate and ERC refund, house buying is a nightmare! One thing I would say is speak to the estate agent about whether the seller is willing to complete and then rent/stay with family if they don't find anywhere by a certain time, as that would at least mean you could move before losing your mortgage offer. Unfortunately ours have said no to renting which is fair enough but it's worth an ask and I would keep contacting them regularly for updates. Fingers crossed for you that everything goes smoothly going forward!

Original poster

Zara84 · 05/08/2023 17:52

@Crazydoglady0 thank you for your reply, in all honesty I have been losing sleep over this all and it’s making me really anxious.

I contacted the estate agent on Tuesday and haven’t heard back, spoke to my lawyers who said they are waiting to hear from sellers lawyers and that was all they could do.

yea 6 months on papers seems like long but with the amount of time it has already taken I’m really concerned.

I will get back on to the estate agents next week and really hope it works out we really need the space and with all the effort put in getting the mortgage offer done I hope it wasn’t all for nothing :(

good luck to you also - the system really is broken.

OP posts:

BigButtons · 05/08/2023 18:01

I am due to complete this coming weds. My situation is different from yours as luckily I don’t need a mortgage but the chain k have been part of has been so awful. I completely understand the anxiety that this whole process brings with it. My estate agent and solicitor were both excellent and very proactive.
the trouble is @Zara84 even if your sellers find a property the chances are it will be part of a chain and yes the searches and surveys can happen relay quickly but it’s the rest of shittery, the paperwork.
keeing fingers and toes crossed for you that it is resolved soon.
on one desperate and frustrated phone call I had with my solicitor she told me that the whole conveyancing system in England was shit and not fit for purpose- and she’s right.

Original poster

Zara84 · 12/08/2023 16:05

Hi guys - an Update and any responses appreciated!

so the agents have spoken with sellers who have given them reassurance that the sale
is very much on and that their will be no further hold ups.. but at the same time have said they won’t let me do a second viewing until exchange - thoughts ?

OP posts:

lljkk · 12/08/2023 16:17

This is a big reason why i will be reluctant to look at any property that isn't chain free / vacant posession next time I buy.

We planned & did move to rented before we sold.

Crazydoglady0 · 12/08/2023 16:51

That's very strange they won't let you have another viewing in my opinion, have they said why? It's not something I've experienced myself as our first house was empty so they let us come in to measure up etc and then this one we haven't asked to view since our offer was expected but might need to now our survey is back, maybe we'll have the same issue! Hopefully someone with more knowledge will be able to advise if it is normal for someone to do this. If our buyer wanted to come and have another look round I'd definitely allow them to, yes it would be a pain as I'd want to make it look as clean and tidy as it did when they viewed and also would have to plan around us working from home and having a dog and small baby but I think it's unreasonable to just say no! Sounds like you're having a nightmare with your sellers, definitely agree with a previous response that chain free is the way to go, if our purchase falls through or we have to move again I'll definitely be looking to go down that route! Doesn't help us at the min though does it 😂

BigButtons · 12/08/2023 17:01

That is all kinds of dodgy.
Are they prepared to move out before they find another house?
I know this is mega stressful and I really feel for you.
I completed on weds and if I EVER feel I want to move again I will be looking for an end of chain/ vacant possession.

Original poster

Zara84 · 12/08/2023 19:23

Thanks ladies - I’m so glad to get the reassurance that I’m not the only one that finds it unreasonable! I have emailed my lawyers to see how they can help, I have said we will need another visit as I technically haven’t stepped foot in the garden it was raining on the day we visited and also I want to get an idea of what furniture we take with us - I think it’s fairly normal. I even said I am happy to wait until summer holidays are over as I know they have children… so I’ve said asked solicitors for a) an estimate timeline from
now to exchange and b) I need to have a second visit ahead of exchange and am worried as to why they are saying no when initially they said “of course”

any other things I should be flagging welcome! And yes I have told myself if nothing moves forward or anymore oddnes around it all until end of aug I may just have to count my losses and move on

OP posts:

BigButtons · 12/08/2023 21:27

@Zara84 the important questions to ask the estate agent - not your solicitor now are:
Are they prepared to move out BEFORE they have found a property?
Have they found a property and put in an offer?
Are they in a hurry to move?
These are crucial and your estate agent should be keeping you bang up to date with this.
if the answer to any of these is NO then I would cut your loses now and start looking again.
unless they find a-property with no forward chain then you are completely dependent on how the chain progresses and how complicated it is.
They chain will have to exchange and complete at the same time.
The average time frame you are looking at with a chain is probably around 16 weeks once all offers have been accepted.
you are dependent on the efficiency of all the other estate agents and solicitors in the chain.
phone the estate agents on Monday and ask these questions.
as my solicitor said to me during my process ‘ the conveyancing system in a England is not fit for purpose.
My seller initially said she would be prepared to move out early so that I could complete before the rest of the chain. She then changed her mind and there was nothing I could do about it.

Original poster

Zara84 · 12/08/2023 22:42

Thanks @BigButtons I shall be asking those questions tomorrow.

i am new to this all and can’t believe how shitty the process is ! It’s absolutely awful I’ve spent majority of my maternity leave dealing with the stress of this all :(

thanks for your input will get onto the estate agents on Monday

thanks

OP posts:

BigButtons · 12/08/2023 23:53

@Zara84 it is your estate agents who should be driving this forward. It is not your solicitor’s job- she/ he just does the legal side.
it is an absolute nightmare. I have learnt to my cost and I am really sorry this is happening to you

Original poster

Zara84 · 12/08/2023 23:57

Thanks for your reply@BigButtons I think your right it doesn’t seem right and I genuinely have taken a lot of stress already was just saying to my husband I’m ready to throw in the towel now!

the estate agents are rubbish too tbh - last when I asked them about the second viewing and basically challenged the vendors decision, the estate agent simply said well they own the property so it’s up to them - honestly not sure if I should laugh for cry!

anyways I think if no real movement by end of the month I genuinely will pull out coz it’s just too much ambiguity around it all !

OP posts:

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