So how would you play it? House sale question

Home Forum Chat Forum So how would you play it? House sale question

Viewing 40 posts - 1 through 40 (of 40 total)
  • So how would you play it? House sale question
  • highclimber
    Member

    don’t beleive everything you hear from a prospective buyer. they are bigger liars than most estate agents!

    johndoh
    Member

    True, still thinking that thought.

    Premier Icon NZCol
    Subscriber

    Its sold when you have the money. While that is a lovely story you need to sell your house, therefore the first person with the right cash buys it.

    Premier Icon Nobby
    Subscriber

    I’d explain the situation to the vendor of the house you’re after – whilst they want a quick sale, the fact that your buyer has no chain means the entire process is reduced overall. This should appeal to them.

    eskay
    Member

    Look after yourself I am afraid.

    5thElefant
    Member

    We had something similar. The buyer gave us a £30k non-refundable deposit. It all worked out.

    ElShalimo
    Member

    If they “must” have it, then they “must” come up with the formal mortgage offer and proof of deposit, then you can play with them.
    Otherwise they’re just another dreamer with the potential to ruin your sale. It’s business, you don’t need to be friends with them and go for long walks into the sunset

    shermer75
    Member

    It’s probably a man in woman’s clothing anyway

    Premier Icon plumslikerocks
    Subscriber

    all the above +1. There is no room for sentimentality in the property game. Buyer can legally walk away without it costing them a penny right up until exchange of contracts. If she’s mid-divorce I would suspect it almost certainly will not wrap up as quickly as she’s expecting. Estate agents and solicitors will do bugger all to help you out if it gets sticky either.

    I can’t imagine she will pay a non-refundable deposit large enough to cover your expenses if you lose the house you want…..

    Also, although you could state that a deposit was non-refundable, a wily property lawyer would take all of about 5 minutes to accuse you of non-disclosure of a minor something or other, making the original agreement void.

    I know this because my wife’s uncle is one such lawyer who serially makes his wife happy by committing to buy houses, then (when the excitement is over) pulling out at the last minute by citing minor details.

    johndoh
    Member

    Our house has just gone on the market and someone viewed it tonight and fell in love with it.

    From what she’s said, she *must* have it but isn’t in a position to buy for two months, having just divorced – she says she has a mortgage in principle but they need to see three maintenance payments go in before they will proceed (she’s had one, so two months to go).

    She has even offered to pay us a deposit to take it off the market.

    Thing is, the house we want is part-owned by a bank and they want a quick sale so I am concerned that if we don’t act quickly we could lose out.

    Thoughts anyone please!

    jekkyl
    Member

    Keep it up for sale.

    Premier Icon mikewsmith
    Subscriber

    for sale until sold. Simple, if it’s still on the market in 2 months it’s hers.

    st
    Member

    As above, acknowledge her interest but keep it on the market. By all means speak to the bank who own the house you want to buy but I’d imagine they will just be looking for a quick sale (is it a repo?)

    johndoh
    Member

    No it’s equity release and the old couple both died.

    jekkyl
    Member

    Ooh haunted! Cool.

    grum
    Member

    Just had a house sale fall through, losing about a month of potential viewings/sales. Keep it on the market.

    crikey
    Member

    I ‘sold’ my house 3 times before it all actually went through. I second the above idea that it’s a business deal and there is no room for emotion or sentiment.

    Premier Icon tomaso
    Subscriber

    Thank her for her offer and say you understand her position and you’ll bear it in mind but with out a deposit you can’t afford to take it off the market. I don’t think you can be any fairer than that.

    samuri
    Member

    Agreed. Leave it on the market. If she’s lucky it’ll be hers when she has the money together.

    ianv
    Member

    If the deposit was non refundable and big enough, I would probably consider it. What is there to lose, and if she pulls out you get some extra cash. I am sure you could do a deal with the bank on the property you want to buy.

    djglover
    Member

    I would happily seal the deal with her if she commited a big enough non refundable deposit

    tonyd
    Member

    Talk to the vendor of the house you want to buy, if they are prepared to wait that long and commit to you then ask her to put up a large and non-refundable deposit. Have this all drawn up through solicitors.

    The vendor (bank?) may be happier if you put all or a part of the deposit she pays down on the house you want to buy and make that non-refundable too. That way you’re all committed.

    If the bank won’t wait two months (plus however long the rest takes, another 2 months?) then explain your situation to the lady and keep the house on the market.

    Where in the country are you? What is the housing market like there? Where we are everyone is partying like it’s 2007 unfortunately.

    bland
    Member

    I wish there was a party here, can’t sell ours for love nor frikking money!

    Anyone want a modern 3 bed semi with double drive and gardens for £95k?

    Premier Icon dannybgoode
    Subscriber

    Until contracts are exchanged the buyer can pull out at any time – end of. As can you.

    Her solicitor **must** tell her that she should not pay a deposit until contracts are exchanged.

    Nothing is binding until that point (unless you’re in Scotland of course then its a whole different set of rules) and to hand over money early is fraught with dangers and complications.

    Accept her offer, get the ball rolling and tell her if she wants it you need exchange of contracts within two weeks.

    Yes, it normally takes between 6 and 12 weeks to reach exchange but her solicitors, if paid enough money, should be able make it happen.

    May be delays a) if there are complicated convenants on your property and b) if you property is leasehold.

    I used to work in a conveyancing office and if paid enough I have seen offer to completion within 48 hours but it means the solicitor involved dropping all their other cases and working on it 14 hours a day. Hence the cost.

    Your solicitor has to do very little as the selling solicitor so should cost you as much.

    Cheers

    Danny B

    Premier Icon totalshell
    Subscriber

    can only echo the above.. one person has said they d like to buy your house.. i’d like world peace.. they say they have to wait 2 months to prove an income.. and already the excuses have started..tell her its hers unless you get better offer ( ie one from somebody who has an income and is able to complete the purchase..)

    keep that for sale board up and tell the estate agent to send solvent purchasers not dreamers

    just keep trying to sell it to anyone that’s interested until it’s actually sold.

    Premier Icon bruneep
    Subscriber

    get her to pay the “deposit” by PP gift.

    johndoh
    Member

    Thanks for all the feedback so far.

    Well it is 10.30am and no word of the offer she claimed last night was almost guaranteed to be coming in first thing.

    Ahh well, have another viewing on Thursday night…

    Premier Icon iain1775
    Subscriber

    Freshly divorced needy woman?
    Does your house have a cellar

    johndoh
    Member

    Well it all warmed up – she offered £250k (we are on at £270k). We rejected straight away. She came back with £260k so we are ‘considering it’ overnight.

    She still seems keen and the seller of the house we want is very keen to sell so fingers crossed.

    And no, no cellar 🙂

    Premier Icon boxelder
    Subscriber

    260?

    That’s some hefty maintenance payments!

    johndoh
    Member

    It’s Harrogate, there’s rivers of gold running down the High Street.

    johndoh
    Member

    Ohh, that happened quickly.

    Offer on our house accepted and our offer accepted on the new place.

    All in 8 days.

    Jeez.

    Premier Icon bearnecessities
    Subscriber

    £260k in Harrogate? Is it a basement flat? 🙂

    Oh, edit: best of luck!

    grantway
    Member

    Keep it on the market and if she wants it then she will buy it !
    To sell a house have no loyalty to someone you don’t know
    and will never see ever again !

    johndoh
    Member

    We will see her though – one of her kids goes to the school ours start at in September, the other will start next year. Ohh, and we are moving 0.2 of a mile away to the other side of the street 🙂

    johndoh
    Member

    Whoo – we’re in. Two broken toilets, a wasp nest, a beehive and a goosed boiler but we’re in. A garden and a double man-cave.

    🙂

    samuri
    Member

    Awesome. Pleased for you. We’ve just moved in too. No hot water for three days and still no cooker but we’re in and it’s ace! Double man cave here too but right now it’s so full of wood and old carpet it’s not much use to me.

    johndoh
    Member

    And a second wasp nest. And fixing one toilet cost £100 (and the whole lot gets ripped out next month). We’ve cordoned off the other one as that is bring renovated soon too.

    And the blinds I bought don’t fit properly and I’ve botched them.

    I hate moving in but I love the new house.

    Time for Henry Westons Cider…

    Premier Icon djflexure
    Subscriber

    Whoo – we’re in. Two broken toilets, a wasp nest, a beehive and a goosed boiler but we’re in. A garden and a double man-cave

    I raise you a knackered roof.

Viewing 40 posts - 1 through 40 (of 40 total)

The topic ‘So how would you play it? House sale question’ is closed to new replies.