[Closed] So after 2 weeks the vendor wants to go back to market

I'd be inclined to pull out... they'll probably wait.until you've paid a load of fees, etc and change their mind.

In that respect i have no fees to pay except solicitors fees

My solictior said they were on edge because they were old and we were taking too long , if im taking too long i think they will not be selling at all ......looking for a cash buyer perhaps !

survey? valuation?

I suspect they are not happy with the price so aremaking excuses.

Get your solicitor to tell them to stop mucking about

walk away

houses will be cheaper in 6mths time anyway

Write a factual letter explaining where your at, what your doing and when you plan to exchange / complete. List any potential delays. Explain how serious / committed you are to the purchase. Be open and transparent. Give them a point of direct contact to you. Pop the letter through their door. They may be nervous and wary and need a thourough explination of the system. They are old.

As for your thoughts on pulling out, if that's the first thing that springs to mind is this really the house you want?

If you act quickly, phone the bank constantly, and jump at every opportunity, it is possibly to turn a mortgage around very quickly.

I've just done the following:

Day 1 - select mortgage and get AiP arranged on the phone
Day 3 - visit bank in person with all required documents etc, appointment with senior mortage person, get everything signed for them to sign off. Stress need for prompt processing, get agreed date for them to call you back
Day 5 - phone bank for update, phone again, phone again (yes, I will continue to pester ..)
Day 6 - bank phone's to say mortgage has been approved
Day 7- 9am in bank, signed off approved mortgage

So it can be done in 7 working days, just be focused, informed, act very quickly at every opportunity, and pester thd bank (very politely!)

Already doing that sue

My thoughts for pulling out are as clubber says i dont want to get mucked about further down the line like tj says i suspect they think they can get more - its already above valuation .....

Dont need a survey im in scotland and have homebuyers report thats less than 3 months old

I had one complication that held me up 2 days as the bank had to change my address on the credit ref agency due to recently moving house to be near partners ( now perminant place of work)

Ill be phoning monday and chasing the mortgage first

I suspect that their solictior is an idiot first and foremost and i also suspect they signed up to a date too soon for them ...... My request was 23rd march or a date that was mutually agreeable to both parties - as in id like it then but i really dont care tbh .....im going to ask if changing that changes things for them ....

Oh and to add to that due to the 2 months notice on this place ill have to move in with friends at the end of april as a new lease has been signed commencing end of april......woo and indeed hoo !

tell 'em you're worried about the rises in mortgage rates announced this weekend and you may have to reconsider your offer unless they move quick ?

What - in the wonderful Scottish system? 😈

Does your lender need to survey? Have they done it yet if they do need to?

Usually, you'd have a mortgage "agreed in principle" before finding the property. So - the bank would already have gone through credit scoring etc. Then it's just a question of whether or not they are willing to lend on the specific property you find. If you are offering somewhere around the valuation figure in the home report, it should only take a couple of days for them to agree.

Druidh Yes i had the aip done previously and all was good but that was a soft check as per most aips

The full hard check is a bit more intrusive and threw back a small issue in that my latest address on file doesnt match my electoral roll address(which is my current address) and its been sorted now.

Im offering 5k more than valuation but im paying that in full upfront on top of the deposit.

Mrs tr is fuming..... Going for a run to calm down

Lender does not need to survey they just need a copy of homebuyers

Right minds made up

Gonna speak to my solicitor tomorrow and ask him to find out why thhe big push as ive spoken to alot of folk who have bought in the localmarea and no ones had this issue so far.As. When i spoke to vendor at viewings they were in no rush !

If i dont get a straight answer then they can get bent as far as im concerned .......

Their solicitors a bloody clown !

Remind the seller that putting it back on the market will delay matters even more

well thats the call made - got told "there is no point in falling out with me about it " and that "it is a reasonable request" .....

whos the clown i wonder ....

told him to tell the vendor that if i get a mortgage offer and i decide to proceed after being messed around then i may be in touch but im off to look at other houses.

and if this house falls through im off to another solicitor frankly ....

sounds like your solicitor doesn't want to upset them, or their solicitor - rather than acting in your interests. he should also have flagged up to them, and to you, the likely time span for mortgage applications.

Indeed, I'd be looking for another solicitor, one that you can trust, because it sounds that this one has lost the element. Also get the mortgage provider to guarantee that the cash will turn up on the right day - it didn't, with our first joint mortgage, for some reason, and because it was unexpected, we ended up with an eye-watering overdraft for about a week.

good luck.

Ideally you have a Mortgage offer in place before you even consider making an offer!

in an ideal world yes - have you ever tried to get a mortgage without an accepted offer ? it wasnt happening - the first question was always - do you have an offer accepted ... no ok well we cannot go passed the AIP stage !

i had agreements in prinicpal but we know how much use they are now dont we .....

Ideally you have a Mortgage offer in place before you even consider making an offer!

and more so id be even more pissed at my solicitor if that was the case as he never mentioned that to be the case.

its the valuation stage that seems to be holding me up and how do you propose they get round that without a property to give the valuation on to give the formal mortgage offer on ?

There could be a variety of reasons for them trying to pull out, two most obvious are they think they can get a higher price and they've changed their minds on selling. You seem to have done everything very promptly

@gwaelod - prices in parts of London are up 10% this year and I don't just mean in Chelsea and Kensington.

At least with twitter we only get 140 characters of real time updates from peoples' lives.

its the valuation stage that seems to be holding me up and how do you propose they get round that without a property to give the valuation on to give the formal mortgage offer on ?

You don't. You can't get anything beyond a decision in principle until you have had an offer accepted.

And 8 weeks would be a normal time frame from offer acceptance to completion. Not 2 weeks or whatever your vendor thinks.

Good sale on;
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To provide some balance:

- it is not unreasonable for a vendor (certainly in the Scottish system) to expect you to remove any conditions on your offer (such as you getting a mortgage) within a reasonable time frame (usually that time is indicated on either your qualified offer or their qualified acceptance). The last time we offered and accepted that period was 7 days.
- it is not uncommon for a vendors solicitor to try and kick you into action by advising they will put the house back on the market for dragging your feet. He has no reasonable way to know if you are a time waster or a guaranteed mortgage no problem buyer.
- if you are confident you are mortgageable and already have an AIP then you could proceed AT YOUR RISK and remove your qualifications. That would then mean you are liable if you then can't get a mortgage and have to pull out - but why should the vendor carry the risk for your uncertainty.
- your (Scottish) solicitor won't normally charge you fees for a failed offer if you are continuing to place subsequent offers via him; so your costs are zero.
- 6 years ago a qualified offer would just have been rejected outright; it is only because of the uncertainty in funding and slowness of the market that you got away with it in the first place. You need to get your ducks in order though. You used to be able to get beyond AIP at some banks if you paid the arrangement fee - not sure if that is still the case; of course that would mean you are carrying some risk!

TandemJeremy - Member
I suspect they are not happy with the price so aremaking excuses.

Get your solicitor to tell them to stop mucking about

two weeks? I'd say they're in a bit of a hurry, wouldn't you?