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Days from exchange, vendor remarketing house

7 replies

FVFrog · 22/12/2020 22:19

Can someone please talk me down or make sense of this. Chain of 5 I am in the middle. Delays caused due to mortgage offer at bottom of chain taking ages to come through. Everything else is complete, searches, surveys, enquiries etc all done for everyone. Kept being told it was imminent and then when it wasn’t issued on Friday I was told by my vendors estate agent at 4.30pm that the vendor had made the decision to try and resell the house, still wants to proceed with me but feels at this point she has to do something. House goes active on Rightmove on Saturday. Monday 4pm I get a call to say the mortgage offer has been issued, hurray, all good (I thought...) phone call at 6pm today to say they have two buyers interested in making offers and until they have seen proof of mortgage offer they are still pursuing another buyer. Seriously! We are literally ready to exchange, the house she is buying has to complete by end of January or they lose considerable amount of money (moving abroad). My stress levels are through the roof trying to second guess what they are playing at! I know she really wants her onward purchase ( v unique house) there is no way a new buyer will be ready to exchange before I am! What is going on??

OP posts:
mountains76 · 22/12/2020 22:23

It's probably a trust issue, your vendor want's some certainty, why can't you show her proof?

FVFrog · 22/12/2020 22:29

It’s not my mortgage, waiting to hear from my estate agent tomorrow to chase it up, but why would their estate agent lie?

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mountains76 · 22/12/2020 22:43

@FVFrog

It’s not my mortgage, waiting to hear from my estate agent tomorrow to chase it up, but why would their estate agent lie?
Why would an estate agent lie? Because that's what they do for a living.

I don't think it's unreasonable for them to ask for proof at this stage, i'm surprised you haven't asked for this yourself TBH.

FVFrog · 22/12/2020 22:45

I’m obviously too trusting...will chase tomorrow

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user1471538283 · 28/12/2020 21:36

Your vendors solicitor should have received proof of your funds and you cannot exchange without it. Your vendor is probably nervous or has run out of patience as I nearly did with one of our buyers

AntiHop · 28/12/2020 21:38

How did it pan out @FVFrog?

FVFrog · 28/12/2020 21:45

Hi @AntiHop Still waiting...spoke with my solicitor Christmas Eve and her view was that yes estate agents will lie to buy more time, but she would be surprised in this instance as they are all in very regular contact and we are so far down the line and they know this is the only outstanding thing. However, she tried to contact other solicitor and they had all left for Christmas break. My estate agent is in tomorrow and I will speak to her, but realistically no updates until the 4th when all the solicitors are back. Has not made for a very relaxing Christmas! I will update when I know. I am scanning right move and mentally trying to prepare myself just in case, I feel the longer it goes on the greater the possibility of someone dropping out.

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