Is our buyer a messer?

[Snorkers]

We accepted an offer on or house 5 weeks ago. Called my agent yesterday as still haven't heard when our buyer's mortgage survey will be, apparently she hasn't even applied for her mortgage yet!

They said she is getting one last piece of documentation together for the broker after which it will be submitted.

Is ths normal?

We applied for ours 4 weeks ago and our ongoing purchase survey is today.

Never dealt with a buyer needing a mortgage before so any advice appreciated.

We're buying at the moment. We instructed a solicitor the same day the offer was accepted, already had a MIP, spent the weekend getting together all the paperwork for the broker and the application went in a few days later. Unfortunately we're now on day 35 of waiting for the mortgage offer (no concerns we won't get it though, they're just shockingly slow but the broker has chased regularly and has now been told it should be ready in the next few days) but our solicitor has been in touch with the vendor's, paperwork has been going back and forward and searches have been done.

I'd say not normal at all if the buyer was serious. I'd be putting it back on the market. And no I wouldn't be letting her in for another viewing till you've exchanged.

The agent handling your sale should have made sure the "buyer" was in a position to actually buy the property .

I presume she already had an AIP - but she hasn't submitted the actual application. They wouldn't have let her offer without an AIP. (Surely!?)

Your estate agent shouldn't have accepted an offer without proof of mortgage approval.

I would complain to the estate agent they should have told you this

Best case is that she sorts herself out and it goes through with her. But that you don’t wait around too long to see which way it’s going.
So on that basis, how much time will it take to prepare for the viewing? If it’s not too much time I’d be inclined to let her come round and get more emotionally attached.
In the meantime, ask (on here?) how long it is taking for mortgages to be agreed. Give her that long plus one day to get it sorted or it goes back on the market. Or just give her one day (or three if you’re feeling generous) to get this documentation to the mortgage company. I don’t know how you’ll know if she’s done that through.

DH had a buyer like this - there was always something and he had to bin her. The replacement got a move on and it went through really quickly.

And check she’s got an AIP. If not I’d go mental.

I suspect that she had an aip but the interest rate rise has spooked her or they’ve dropped her and she’s starting from scratch- no estate agent would surely be sufficiently stupid to put forth the offer without proof of funds??? Get it back in the market with a massive rocket for the agent and serve notice on your exclusivity with them so you can line up and bring in a new agent as soon as it expires - get them on their toes with a clock ticking on their ability to sell it

I presume she already had an AIP - but she hasn't submitted the actual application. They wouldn't have let her offer without an AIP. (Surely!?)

I think it would be an unlikely. We chased our broker constantly & had all the paperwork but it still weeks & apparently that's normal.

But you don't get mortgage approval until after offer, at best you get an AIP

Has she paid her solicitor for search fees and have they been instigated?
If she hasn’t, I wouldn’t entertain a second viewing. I can understand your reservations. She sounds a bit flakey.

@myuterusistryingtokillme, Bought and sold many properties and absolutely needed mortgage approval before making an offer or accepting an offer. On a side note the potential buyer doesn't even have AIP has she still needs to hand in documentation.

Agree with this. Instructing a solicitor is the better sign of commitment to the transaction as it costs money. And in our area searches are the slowest part so that's the bit that needs doing first.

If buyer is selling a property then they'll probably get a mortgage tbh. I'd be more worried if it was a FTB that hadn't put in their mortgage application.

Do check that your EA saw an AIP from your buyer and did due diligence checks on when they made the offer.

Bought and sold many properties and absolutely needed mortgage approval before making an offer or accepting an offer.

@LosDolses

How? We have always needed the details of the property to proceed with the mortgage?

I've sold several houses and never accept an offer from anyone non proceedable. The agents here won't sell to buyers without an arrange mortgage in principle. Does she have that?

I don’t think she’s that serious about it. We are buying and had our mortgage application done the day after offer was accepted! With rates going up, no one who is certain about a purchase would wait for 5 weeks to apply. She’s a time waster I’m afraid.

Exactly. How can you have a mortgage approved without the specifics of the offer and the value of the property? At least that's always been the case in our previous purchases

We had a MIP for another property that we lost out on. It was for about £30k less than the property we've ended up buying but the agent was happy to use it for the purposes of this property and the vendor didn't seem to have an issue. But then the agent did know our particular set of circumstances and that we were absolutely serious.

I have spoken to the agent and cleared this up, don't want to say too much as may be identifying but it's a routine paperwork issue, coupled with an attempt to reduce interest rates by using an alterative mortage provider to the existing, approved one who are trying to take advantage.
It goes to show it's not worth not leaping to conclusions so thank you to the posters who advised a calm approach! (Goes against my panicky nature)

Jesus. Which bank was that with??

Eglantine you ignored the trigger happy advice!!

calm & asking sensible questions is always the best way!

when is she coming around to measure up?

is the house you liked still for sale?

I was about to say, please be patient, we had 2 failed mortgage applications after having two mortgage in principles. We are both SE and FTB so was tricky. We did get there in the end, and now living in the house but it was a long and very stressful process.

This is our exact situation at the moment. It's with Danske. Fucking useless, I wish to god I'd known or we'd have gone elsewhere.

Indeed! Yes we have our mortgage in place.

Messer definitely, is your buyer the person who posted earlier, who was thinking of pulling out, as she didn’t love the property she was a winning bidding war for?