Soldato
- Joined
- 14 Nov 2002
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- 7,711
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If you don't mind me asking, what did you pay for it and when?
House saga continues...
- Thread starter RedvGreen
- Start date
A slight divergent update...
We placed an offer for a house which was accepted. However the EA is still pushing viewers to see the house we placed on offer on. This is very bizarre as our property and the one we have placed the offer on is with the same EA.
The offer we placed had the proviso (set by the pleasant elderly woman residing there) that we can sign contracts within 2 weeks (which relies on our FTB getting mortgage sorted - we've been waiting for this since September). Our EA has told us that our FTB will have his mortgage sorted by the end of this week.
Now, this is an odd one as accepting more viewings is an obvious chance that we can be gazumped (as we offered slightly below asking price), but also, could this mean that our mutual EA believes that our FTB won't get a mortgage through, but they don't have the cajones to tell us?
The old woman in the house we placed the offer upon felt it was bad (she didn't know what to make of it, as she is a very nervous individual, she thinks either the EA thinks we are time-wasters, or that our FTB status is a ruse, or that the EA thinks she can get more money - she was basically unsure of how to proceed, and didn't want to let the EA or viewers down, so she is continuing with the viewings).
What do you think to this? EA playing gazump-time? some petty-ruse to try to get us to offer higher/more? EA thinking our FTB won't attain the mortgage? or what?
We placed an offer for a house which was accepted. However the EA is still pushing viewers to see the house we placed on offer on. This is very bizarre as our property and the one we have placed the offer on is with the same EA.
The offer we placed had the proviso (set by the pleasant elderly woman residing there) that we can sign contracts within 2 weeks (which relies on our FTB getting mortgage sorted - we've been waiting for this since September). Our EA has told us that our FTB will have his mortgage sorted by the end of this week.
Now, this is an odd one as accepting more viewings is an obvious chance that we can be gazumped (as we offered slightly below asking price), but also, could this mean that our mutual EA believes that our FTB won't get a mortgage through, but they don't have the cajones to tell us?
The old woman in the house we placed the offer upon felt it was bad (she didn't know what to make of it, as she is a very nervous individual, she thinks either the EA thinks we are time-wasters, or that our FTB status is a ruse, or that the EA thinks she can get more money - she was basically unsure of how to proceed, and didn't want to let the EA or viewers down, so she is continuing with the viewings).
What do you think to this? EA playing gazump-time? some petty-ruse to try to get us to offer higher/more? EA thinking our FTB won't attain the mortgage? or what?
Two weeks to sign contracts is 95% unachievable. Your own mortgage company probably won't be able to do a survey and approve your mortgage in that time, plus the subsequent paperwork that's needed (plus it sounds like you don't actually have a buyer any more).
We're 99% good to go - our surveys take a day to occur and our Solicitors have been fully advised and are pushing from their sides too.
(this is going to hurt, isn't it?!)
Yes to b - the other two are tentative as they are based on the buyer's ability to get a mortgage. Apparently the company being used for their mortgage is one that is low APR but has more applicants than potential to deal with them at any great haste.
If you haven't stipulated that the property be removed from the market as part of the agreed offer then, given that:
1) you have offered below asking price
2) the vendor thinks it was a "bad offer"
3) you are in a chain
it seems likely that she wants to see if she can get a higher bid before contracts are signed. The EA will of course be privy to this information so will instruct any interested parties that they need to make offers at a higher level and within a short timeframe. You are the fallback position in case such an offer is not forthcoming.
I wouldn't read too much more in to it than that in terms of the conspiracy theories about your FTB, by the sounds of it the vendor begrudgingly took your offer but it still hopeful of getting a better one. And maybe the EA hopes that by feeding you lines about how prospective viewers are literally queuing up round the block from dawn-til-dusk with wheelbarrows of cash, that better offer may even come from you to seal the deal (it's worth bearing in mind, however, that relatively speaking EAs have very little to gain from marginally increased sale prices as their cut is likely to rise by under £100 - it is far more important for them to make sure a sale happens and bag the commission, rather than risk it for tuppence-halfpenny extra).
tl;dr: You are right to be fearful about gazumping but no more than that. I would just proceed as planned.
1) you have offered below asking price
2) the vendor thinks it was a "bad offer"
3) you are in a chain
it seems likely that she wants to see if she can get a higher bid before contracts are signed. The EA will of course be privy to this information so will instruct any interested parties that they need to make offers at a higher level and within a short timeframe. You are the fallback position in case such an offer is not forthcoming.
I wouldn't read too much more in to it than that in terms of the conspiracy theories about your FTB, by the sounds of it the vendor begrudgingly took your offer but it still hopeful of getting a better one. And maybe the EA hopes that by feeding you lines about how prospective viewers are literally queuing up round the block from dawn-til-dusk with wheelbarrows of cash, that better offer may even come from you to seal the deal (it's worth bearing in mind, however, that relatively speaking EAs have very little to gain from marginally increased sale prices as their cut is likely to rise by under £100 - it is far more important for them to make sure a sale happens and bag the commission, rather than risk it for tuppence-halfpenny extra).
tl;dr: You are right to be fearful about gazumping but no more than that. I would just proceed as planned.
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