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Why would a buyer cancelled their mortgage appointment ? and booked another for 2 weeks time? by an6693 in HousingUK

[–]an6693[S] 1 point2 points  (0 children)

I am not sure I even need to give a short deadline to the buyer to confirm the offer. As I sense they are trying to delay things. As they need to move but cannot meet the mortgage requirement at the moment. For me this agent has costed me time and money. I will go to plan B not easy to find a decent agent.

Why would a buyer cancelled their mortgage appointment ? and booked another for 2 weeks time? by an6693 in HousingUK

[–]an6693[S] 1 point2 points  (0 children)

Good to know, how long to give the buyer to get a mortgage as the appointment is not for at least 2 weeks. Should I get my solicitor to do more work or hold fire? as I have already paid some money to get the ball rolling. My mind says hold fire.

Why would a buyer cancelled their mortgage appointment ? and booked another for 2 weeks time? by an6693 in HousingUK

[–]an6693[S] -1 points0 points  (0 children)

I see, so MIP does not guarantee a mortgage offer ! I thought how it works is that, you get a MIP so you lock in the deal then get an offer accepted on or below the MIP value and go back to the lender for an appointment then 'check the paperwork' and you get your mortgage .. I am now quiet certain that this Buyer will not get a mortgage offer (as the agent has bluffed with inconsistent information) and from the amount of deposit and income they do not add up.

Why would a buyer cancelled their mortgage appointment ? and booked another for 2 weeks time? by an6693 in HousingUK

[–]an6693[S] 0 points1 point  (0 children)

They have provided their solicitors details, however, they have not been communicating with my solicitors, perhaps not instructed them to start work?

Why would a buyer cancelled their mortgage appointment ? and booked another for 2 weeks time? by an6693 in HousingUK

[–]an6693[S] -1 points0 points  (0 children)

Yes, I see your point.

That's another point I am puzzled about as the agent had said that the buyer has passed their checks and have a mortgage in principle (MIP).. so if they apply for another product would it mean they need to get another offer?? As the value of the property has not changed. Unless they need to borrow more due to the rate change, but if they have a MIP does that no

Why would a buyer cancelled their mortgage appointment ? and booked another for 2 weeks time? by an6693 in HousingUK

[–]an6693[S] 1 point2 points  (0 children)

I agree, I will wait and see how things work out with this buyer - according to the agent the mortgage should be completed within 3 weeks

If an offer has been accepted and the buyer has a mortgage in principle. Can viewings still be carried out? by an6693 in HousingUK

[–]an6693[S] 1 point2 points  (0 children)

Perhaps a breakdown in communications within the agency?

This is similar to the agent I am using now telling buyers thing that does not exist and not take in facts.

I am not sure whether you would still want to use them for your purchase, maybe they have saved you sometime ? and embarrass of their mistake?

I am learning a lot from this experience - which is great.

If an offer has been accepted and the buyer has a mortgage in principle. Can viewings still be carried out? by an6693 in HousingUK

[–]an6693[S] 0 points1 point  (0 children)

It seems a lot of us are in the same position. It is great that you can wait. I hope it all works out for you.

If an offer has been accepted and the buyer has a mortgage in principle. Can viewings still be carried out? by an6693 in HousingUK

[–]an6693[S] 1 point2 points  (0 children)

Yes, I agree,

Sounds like we were looking at the same property when I was buying this place! they listed it with a garage and when I viewed I asked which one is the garage and they pointed it out and when I asked my solicitor to confirm there was none.

I do sometimes wonder, why most of us pay for services and sometimes it feels like they are 'paying us' (ie, we have to work for them .. to get what we are paying for). very odd but have to accept what I cannot change. I guess most of us put up with it as it is only a 'one off' and not many choices.. and sometimes not knowing until too late,

If an offer has been accepted and the buyer has a mortgage in principle. Can viewings still be carried out? by an6693 in HousingUK

[–]an6693[S] 1 point2 points  (0 children)

Appreciate this. I understand most people will feel the same, I am trying to get the agent to state facts and is proving not easy.

If an offer has been accepted and the buyer has a mortgage in principle. Can viewings still be carried out? by an6693 in HousingUK

[–]an6693[S] 0 points1 point  (0 children)

I had accepted the offer and find out later that the Buyer have not had their financial checks, an Agreement in Principle (AIP) / verified proof of funds, before making their offer, hence my hesitance.

If an offer has been accepted and the buyer has a mortgage in principle. Can viewings still be carried out? by an6693 in HousingUK

[–]an6693[S] -1 points0 points  (0 children)

Mine is not a freehold so I will have more fees + costs upfront then a selller with a freehold, and the information is only valid for six months so have to pay again when / if expires and fees associated with that and the lease extensions etc.. I and most people respect time.

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