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Original poster

Advice needed - vendor pausing sale

26 replies

Someaddedsugar · 03/08/2022 17:57

We had an offer accepted on our dream house early last week, and we're just waiting for the lender's valuation to happen. We have paid extra to have the in-person valuation rather than the desk-based option as Zoopla etc were suggesting that it's difficult to value the house given that it's a street with little movement in terms of selling houses.

I've been informed this morning that the vendor needs to pause the sale, and that we'll find out at the end of the month if we have the house. I've been assured that if the sale can go ahead the house is ours to proceed as we were.

I have no idea what to do now or whether to give up with this house and move on. What would you do?

OP posts:

ItsSnowJokes · 03/08/2022 17:58

Start looking at other properties and put your valuation on hold.

Original poster

Someaddedsugar · 03/08/2022 17:58

Is it possible to transfer the valuation to another property or would the lender tell us that? I've not been able to get hold of the lender today despite trying numerous times.

OP posts:

EmmaH2022 · 03/08/2022 17:59

I'd be asking why
is there a charge on the house or something? Why the pause?

Original poster

Someaddedsugar · 03/08/2022 18:04

It's relating to a divorce and settlement

OP posts:

Original poster

Someaddedsugar · 03/08/2022 18:05

I'm not sure of the details as it was a very vague conversation.

DP is absolutely gutted and doesn't want to talk about it tonight so hoping someone may have experienced this before.

OP posts:

ItsSnowJokes · 03/08/2022 18:05

Someaddedsugar · 03/08/2022 18:04

It's relating to a divorce and settlement

Defo step away! It could take months and years if it's a bitter divorce!

Original poster

Someaddedsugar · 03/08/2022 19:58

Would you give them until the end of August or pull out now? We absolutely love the house and I feel so stupid for getting carried away thinking it would all be fine.

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EmmaH2022 · 03/08/2022 20:41

Someaddedsugar · 03/08/2022 19:58

Would you give them until the end of August or pull out now? We absolutely love the house and I feel so stupid for getting carried away thinking it would all be fine.

I spent about three months ignoring red flags on my botched purchase recently

(in my defence, my mother was ill and I would have pushed for resolution sooner if she had been well).

can you keep going without incurring extra cost - ask your solicitor to put it on hold? How much do you want it? Is there much else to view at the mo?

Original poster

Someaddedsugar · 03/08/2022 21:58

@EmmaH2022 I hope you're ok - it can be difficult when you have other things on your mind.

We really want the house and we can wait six months after the point of sale of our property (agreement with the developer purchasing it).

I'm waiting to hear if our solicitor can pause for the month too which would work in our favour if she can pause and hold off with any further work as at least we're not too far down the line if we do have to pay for costs already incurred on the purchase.

We have until end November on our mortgage offer from our lender and so we have some time there and I'm going to give them a call to see if we can negotiate an extra month.

Nothing else on the market at the moment but that isn't to say there won't be and I'm open to looking at other properties if one comes up.

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LionessesRules · 03/08/2022 22:05

I think id pause your valuation and solicitor, and keep your eyes open for anything else that might come on the market.

Hope it all works out for you.

Original poster

Someaddedsugar · 03/08/2022 22:06

Thanks @LionessesRules - I think you're right.

And if nothing has happened by this time next month I think we just need to decide it's not the house for us.

Hopefully something might happen this month (and the house prices don't continue to creep up so we can actually find another one!).

OP posts:

coolmum123 · 03/08/2022 23:28

I'd start looking at other houses tbh. We had an offer accepted on a divorcing couple, a couple of days later they pulled out as they decided to stay put (it was amicable situation) we were gutted as it was our dream house. OH was telling me someone at his work finally completed on a house purchase 18 months after offer was accepted as the couple were divorcing and there were lots of issues.

jurve · 03/08/2022 23:42

I'd be very cautious that it won't be just a month

Original poster

Someaddedsugar · 04/08/2022 06:13

That sounds like a nightmare @coolmum123.

This couple have been separated for a number of years so I don't think they'll be getting back together or staying put, however all of your replies clearly show it might be a nightmare sale.

We'll pause with solicitors and valuation and keep looking for something else. We've got time to find somewhere else so it's not quite as urgent as fixing a chain. And if something does happen this month great, if it doesn't at least we will hopefully find somewhere else!

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HavfrueDenizKisi · 04/08/2022 07:06

This house sale is extremely unlikely to proceed. I can tell that from here. Or they'll stall for a few months then sell it to a higher bidder.

If I were in your shoes I would be out viewing other houses today. And stopping any further work regarding the first house.

Original poster

Someaddedsugar · 04/08/2022 07:11

Thanks for the advice @HavfrueDenizKisi - DP has asked me to check with the estate agent that it hasn't been sold to someone else at a higher price as he's just said surely they knew they were going to court this month. Who knows.

You're all probably right and we need to get looking.

I had no idea that buying a house could be this difficult!

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TwoLeftSocksWithHoles · 04/08/2022 09:43

I would suspend any expenditure on this purchase and also continue to look at other properties.

It is possible that one of the divorcing couple is investigating whether they can buy the other party out and keep in the house.

LisaVanderpump1 · 04/08/2022 12:02

Someaddedsugar · 03/08/2022 17:58

Is it possible to transfer the valuation to another property or would the lender tell us that? I've not been able to get hold of the lender today despite trying numerous times.

As a former valuer for the bank, the answer to this is no. The valuation is tied to the property. If you didn't go ahead with this purchase, a new valuation would be required on the property the mortgage is charged against. If you're having to pay for the valuation, I would put this on hold until you're sure that this property is proceedable.

Original poster

Someaddedsugar · 04/08/2022 12:16

@LisaVanderpump1 we had to pay up front for the valuation (£300) but haven't had the valuation yet.

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Original poster

Someaddedsugar · 04/08/2022 12:19

That's a good point @TwoLeftSocksWithHoles - she had been living there for the duration of the separation and he must live elsewhere but perhaps she wants to stay in that property. He is the owner of the property as on the memorandum of sale it has his name but not hers - is it possible (and morally ok) for me to ask my solicitor to speak to his solicitor or is that not the right thing? So sorry for the silly questions and possibly very naive approach.

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LisaVanderpump1 · 04/08/2022 12:39

Someaddedsugar · 04/08/2022 12:16

@LisaVanderpump1 we had to pay up front for the valuation (£300) but haven't had the valuation yet.

It's probably still worth contacting the bank to see if you can put the valuation on hold. They might not give you the £300 back, but just hold onto it until you're in need of the valuation (on this property or another).

Original poster

Someaddedsugar · 04/08/2022 12:41

Thanks @LisaVanderpump1 - I'll ask if that's possible as I'm not sure where we stand right now.

Feeling very down about the whole thing today and then feel irritated with myself as I'm well aware that we're v lucky to even be thinking about buying a house given what's going on elsewhere.

OP posts:

parkrunner1977 · 04/08/2022 12:43

From recollection I think as long as the valuation survey hasn't taken place the lender will refund the fee.

Wombat27A · 04/08/2022 12:45

It's basically been taken off the market.

Find somewhere else to buy.

Original poster

Someaddedsugar · 04/08/2022 16:14

Thanks both. I have a call with our solicitor tomorrow as they're going to speak to the lender re the valuation.

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