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Buyer has adverse credit history

4 replies

TiddleTaddleTat · 10/11/2018 20:12

Accepted a (low) offer on my property to a FTB about a month ago.
Just heard back from the EA that the buyer's mortgage has not yet been approved because one of the couple has a couple of missed payments on her credit history.
Valuation took place 3 weeks ago and in the meantime we've been getting on with sales paperwork and trying to be as quick as possible (we both want a quick sale).
Apparently the buyer claims that this credit history is false and that she shares a name with a relative. She is trying to obtain an Experian report to prove this.
EA tells me that she's not very computer savvy and needs their support to access the file which should happen 'early next week'. She's also told me that they will remarket the property as a back up.
This is going to fall through, isn't it?
We had just seen a great property that we wanted to put an offer on Shock
Any advice?

OP posts:
TiddleTaddleTat · 10/11/2018 20:54

Anyone?

OP posts:
MrsPatmore · 11/11/2018 07:12

Think I wouldn't waste any more time waiting and would re-market it.

Orchardgreen · 11/11/2018 08:20

Last Monday I accepted an offer on a chain free flat that I’m selling.
The buyers need a mortgage but nothing to sell.
They still haven’t decided which solicitor to use.....how hopeless is that?
The agents are still doing viewings.

TiddleTaddleTat · 11/11/2018 09:47

@orchard that's pretty poor. Definitely needs to be marketed until solicitors are instructed.

Unfortunately my solicitor had already done a lot of the work on this one, so if this buyer pulls out I'm guessing I'll be left with a big bill...

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