I have a query on selling a house

[carina62]

I am selling a 2nd property and have a buyer for it. Two months ago she made an offer which I accepted and I have received a confirmation letter to say that the buyer was interested in buying the property. As I have not heard anything concrete for the last couple of months, I rang my solicitor and Estate Agent acting for me and discovered that the buyer has not even applied for a mortgage yet which really surprised me as I thought everything was ticking over and everyone was doing their job. I have now instructed my Estate Agent to push the buyer into acting quickly with her mortgage application as this is costing me money (ie I am paying 2 lots of mortgages, 2 lots of council tax) so I am thoroughly fed up with it all. My question is - was the buyer meant to put in an offer if she had not yet applied for a mortgage? any replies or advice would be much appreciated.

[Crazy council]

Re: I have a query on selling a house

Hi

Normally, when an affers accepted, the deposit is transferred, and if the buyer pulls out or delays, the seller can claim costs against the deposit. This can be contracted away i think

it used to be, they had between 28 days and three months to act on there offer. any claims against there deposit could only be for cost to re-sell, not costs of continued maintenance.

again, am not sure how current legislation has changed this, and, your contract will detail this in full

[carina62]

Re: I have a query on selling a house

hello, thank you so much for your advice. Someone I spoke to the other day said I could claim costs but I wasn't sure if the information was correct. Would it be my Estate Agent that I should contact about this? (will I be rocking the boat with the Estate Agent if I mention this?). Thanks

[Crazy council]

Re: I have a query on selling a house

Hi

Normaly, you would serve a document giving them 28 days to compleate first, then, the wording you need would be in the sale contract, like i say, its usualy 28 days to 90 days to proved the funding.

was contracts exchanged, or was it a informal offer. ?

Dont worry about rocking the boat with the estate agent, as long as your polite, your both in the same position, you both want the property selling...

[carina62]

Re: I have a query on selling a house

Sorry, would I be drafting the document myself? If so, where would I get some advice on how to draft it? No, contracts have not been exchanged yet as far as I am aware. All I got was a letter of confirmation to say that the buyer was buying which was in March and also that the buyer has already paid money for the searches to be done on the house (not sure how much this was) but it was only this week when I rang up my solicitor who is acting on my behalf and they said that the buyer's solicitors could not get hold of the buyer so I then rang my Estate Agent and they found out that she has not even applied for a mortgage yet and my Estate Agent said they would be chasing up the buyer to push her to apply asap. I have informed the Estate Agent that I want this all done and dusted and given them a deadline by end of June as if it comes to me paying for 2 mortgages and 2 council taxes, end of June will be 4 of these payments in total which you can imagine is getting quite costly. Thanks again for your advice.

[Crazy council]

Re: I have a query on selling a house

Understood,

Its only after you have a firm commitment to pay you can chase them. like the exchange contracts. not a lot you can do to compel the buyer at that stage, I know it feels a drag, but your estate agent should still be marketing the property until contracts exchange,

[dan_1207]

Re: I have a query on selling a house

Agreed; a verbal offer is not sufficient to create legal intentions so the potential buyer can take as long as they like.

[wales01man]

Re: I have a query on selling a house

Make the estate agent do the work and get it to contract stage or find a buyer you have no claim against a potential buyer until a contract is formed usually on placing a deposit or on exchange of contracts.

This is why estate agents sold signs state Subject to Contract

[ostell]

Re: I have a query on selling a house

Get the estate agent to write to the prospective purchaser to tell them that if nothing is heard within 14 days then the house is being put back on the market. As the buyer has already had some expenses, that will be lost, this may be sufficient to kick them into life.

I had similar a few years ago. The delay turned out to be because of their solicitor. He then started asking questions like "Is there planning consent for the greenhouse?" I was selling a 3rd floor flat.

[dan_1207]

Re: I have a query on selling a house

Get the estate agent to write to the prospective purchaser to tell them that if nothing is heard within 14 days then the house is being put back on the market. As the buyer has already had some expenses, that will be lost, this may be sufficient to kick them into life.

I had similar a few years ago. The delay turned out to be because of their solicitor. He then started asking questions like "Is there planning consent for the greenhouse?" I was selling a 3rd floor flat.

HAHA! Brilliant.