Fuming with Buyer

[kookiekookie]

We accepted an offer yesterday for 87k and I've been pleased with myself today. Just had my estate agent on the phone saying that although our buyers are still interested in our property, they are still looking around and we should still have people to view ours. What the actual hell!

My estate agent knows this simply because they just tried to offer 85k for a 100k house which was not accepted. They are obviously chancers who realised they got a good deal with me at 85k and made this offer on a house a few doors down on the off chance. The only reason we know about this all is because the other house is listed with our agent. They are first time buyer, long term dickpickles.

What shall I do? Is this par for the course. This is the point at which I know I have to I let the agent do their job but I'm tempted to say 'get your survey done within the week or you can bugger off.'

Any advice?!

Ah OK, fair enough. Nationwide offered to sort ours too, but quoted silly money, so we went elsewhere!

If you pay for the mortgage val £500 and ten instruct your own homebuyers at approx £400 you end up paying way more

Yep, I can see this - every time we've moved it's been the opposite. Ie it's been cheaper to pay for a valuation though the lender plus a full structural elsewhere, than the mortgage company's upgrade.

It obviously varies a lot by lender and presumably by area.

Anyway! Thread derailed, sorry OP.

I'm surprised too-our nationwide survey was vastly cheaper than anything else we got quotes from. Really fast too.

You can usually ask your mortgage company to upgrade their survey to a full survey and you just pay the extra. This makes it cheaper for the buyer. It's what I've done in the past and would do so again in the future.

Sorry but having been gazumped twice as a buyer I now do not stop viewing & offering on properties after I've put in an offer because the sellers are equally crap at pulling out at the last minute and it wastes my time.

This is why the English system needs to be reformed - it's rational to behave badly on both sides.

If the buyers are upgrading the valuation to a home buyers report, it could take a month or so. The mortgage process is slow and they will only send a valuer/surveyor out once the application has been processed and ok'd.

goldfish that totally depends on the lender. Our nationwide application was completed (including survey) in less than a week. I feel like I've been singing their praises a lot, but we genuinely have had an extremely positive experience with them.

Was that recently? Things are much more rigorous now and one week seems amazing

Yes, it's for the property we're purchasing. Our mortgage broker did say it was particularly fast and we're existing customers with a large deposit which probably helped.

I got the homebuyers thru natwest - as soon as application was received by natwest they contacted the surveyor, then I had to sign the forms to engage them as the client, and then the survey was booked in. Was quite quick.

We had a large mortgage & survey done via Barclays in 5 days. They can do it fast if they want your business!

From my experience earlier this year mortgage valuations are happening relatively fast and mortgage approval does not occur until they have the valuation.

Update. We've seen a house today we want to offer on. Our agent told our 'buyers' that it's chain free and they said that that changes things for them but they're still viewing houses over the weekend and Monday. So we'll know by Tuesday if they're ready to commit. It's a waiting game really and from your posts it seems that this scenario is relatively common! I really think the English system needs a reform. The Scottish system seems to be better.

I think that's fair enough. You should offer on the house you like Saturday to secure it.

I'm glad you seem less angry with your buyers. It's perfectly reasonable for them to keep looking - you might have taken ages to find something you like and have an offer accepted and they are obviously on a deadline!

Fine to keep it on the market until survey booked or whatever.

OP- I can see where you're coming from, but as a FTB myself I can see why they are continuing to look at other properties.

We had our offer accepted over the summer on a place we were v keen on.

The vendors hadn't found a place to buy yet/had barely started looking. Their property had been on the market a good few months.

Within a week of us offering, they just withdrew the property from the market.

We learned a lesson then, and now as we're continuing to search, even when we put in an offer on a place, we're still looking at others.

That seems to be the nature of this whole 'game'

Yes this is the first time I'm selling-- I was a ftb once but it wasn't this stressful. I'm glad to have seen this from the ftb's perspective as I couldn't get my head around why they would do this if they were as keen on my house as they seemed to be. I mean, they still haven't withdrawn their offer so there's still hope.

Incidentally my agent has told me not to offer on the property we like until we know more about our
buyers, which I think is the wrong decision. There's a conflict of interest though because the property we want to offer on was introduced to us by my agent but the seller has now moved to a different agent. Obviously my agent wants the commission! That's another pickle. Would you guys offer regardless of all this... Or not offer in order not to piss off my agent who is trying to sell my house?!