lois-rara

.............well, just thought I'd post an update to my original post. My original buyer's survey STILL hasn't been done, now it feels like I have been! It's 7 weeks since we accepted the offer and I find it incredible that the survey still hasn't been done. Every time I speak to the EA they tell me it'll be any day now - but it seems an excessive amount of time, has anyone else had such a delay? The EAs assure me the buyer's still interested etc., but as I mentioned previously, I don't feel they've been very honest with me. Depending on whom I talk to, one said my buyer paid for the survey straight away, another said only a couple of weeks ago! My solicitor rang the buyer's solicitor to find out more and was told the buyer had only just instructed them. This was less than 2 weeks ago! Ironically, it was the person who made the second & higher offer whom I doubted was serious..... I'd be interested to know some thoughts on this, or some sage advice to calm me down! PS My EA said the buyer arranged her finances through them for Nationwide; EA said Nationwide's rates are so low that they are inundated with work! It was the first time I laughed in ages - where are all these buyers then? I don't see many STCs around......

Many thanks poppyoscoe! (Bit perturbed at the moment, discovered the vendor is away for a month!!! I'm guessing that means we won't be exchanging any time soon..... Oh well, at least it gives us more time for packing!)

Well, as far as I know, the first buyer's house is not being sold through the same agent. However, the mortgage IS being arranged through them, for which they get some sort of commission - hadn't thought about that side of things, conflict of interest etc........ Also, I'm trying very hard to believe in what the EA has told me about the commitment of the first buyer; apparently the mortgage stuff went off a week ago, but no survey has been done on our house yet, whilst we sorted our mortgage out just last Friday and the survey's being done tomorrow. Don't know what the delay is for my buyer... unless the EA's just telling me untruths, and no paperwork has been done at all, sigh.. (poppyoscoe, it's not so much that I have more faith in the honesty and integrity of a saleperson, more that I try very, very hard to have faith in them!)

I have been present during every viewing. I've tried to think of every possible scenario. The offer we finally accepted from the first buyer was in fact the third one they made, which is another reason why I feel they're serious - although the first offer was so far off the mark I thought it was a joke! Although the EA hasn't done things by the book (none of the offers in writing etc - apart from agreed one), I'd hate to think they would be so unscrupulous as to invent a buyer! Having said that, obviously it's rare to hear anything positive regarding EAs, but that could just be because people in general prefer to complain than to praise!

Just when I was satisfied with my decision!!! You're right, 15k is a lot of money! Hence the dilemma. I did ask the EA what he meant by 'committed', he said the fact the buyer wasn't willing to put down a 5k deposit that he would only lose if he pulled out, and the fact the he hasn't contacted EA since, was enough to convince him he wasn't as serious a buyer as the first one. This buyer is chain free and the original buyer is selling to FTBs, who have had their survey done & mortgage approved. No other surveys have been carried out yet.

Good morning Meg32 Thank you for your very balanced reply! As regards my agreeing to another viewing after having accepted an offer, it transpires the agents at my branch didn't communicate with each other, so the person who made the appt didn't even know I'd already accepted an offer! I do have propertybee, and there are a few properties in my area that are STC then available again etc. It would be interesting to know the most common reasons for sales to fall through, I'm sure I could find out if I had time to do the research. Thanks to everyone for taking the time to reply, it's helped to ease me through my dilemma. Here's to hoping for a move before Christmas! Best wishes to anyone and everyone in their own endeavours to buy and sell....and finally move.

Firstly, he didn't exactly get me 15k more than I wanted - but it was more than I needed for usual fees etc. The price we've accepted is still 25k less than original asking price - which, incidentally, is exactly what 2 identical properties in the development sold for 3 months ago. And although the money might be the most important issue, there's far more to being a good EA than just getting a good price, in my opinion. I did try to find out as much as I could about the second buyer - how else could I hope to make a decision - but the EA had only just met him and only knew how much he earned & that he had said a mortgage wasn't a problem. Anyway, it's academic now, as I've told the EA we will proceed with the original buyer, whose own buyer is a first-timer, so a short chain. There is no chain above the house we're buying either. (The second buyer had no chain either, it was something to do with a divorce settlement etc.) The EA said he hadn't told the first buyer that we'd had another offer, he said they're already at their limit so it would be fruitless.

Thank you, you've really helped to confirm my gut feeling. I've just spoken to the EA and told him we'll stick with the original buyer. I think they should have taken it off the market once we'd accepted an offer. Not the best EA in the world, really haven't been impressed with them, but that's another story.....

Hi This is my first post, but I've been reading stuff on here for ages, and would really appreciate some advice or opinions! Our house has been on the market for 2 months and we just got an offer (only had 5 viewers). We had already reduced the price by 10k, they offered a further 15k less again. Reluctantly, we have accepted it, as we have already found a house we want (after months of searching), and don't want to lose it. We won't have any spare cash at this price, just enough to cover all the normal fees/stamp duty etc. Our buyer hasn't had the survey done yet, although I'm told the mortgage application has been sent off. (Apparently, she has a large deposit & mortgage agreed in principle). It was last Friday that we received and accepted her offer, but for some reason, the estate agent said they would keep the house on the market until things had progressed further. They said it was normal practice (?). Just 3 days later, on Monday, we had another viewing, and we couldn't believe it when he offered the full asking price! Now we're in a dilemma, not least because we don't want to let our first buyer down, and gazumping just isn't the done thing. But the extra 15k would enable us to do what needs doing in the new house. Some have said we'd be mad not to accept the higher offer, others have said it sounds too good to be true, my parents are taking the moral highground........... The EA said he had only just met the 2nd buyer, and although had verified his financials, wasn't sure he was as committed as the first buyer. So, he suggested asking the 2nd buyer for a deposit to show how serious he was - buyer refused, saying I either accepted the offer or didn't! Just don't know what to do! Any advice or suggestions? Apologies for the leeengthy post!