Son of a bitch fuck arse shit wank

[Chester Copperpot]

Shit - that's really bad news. A total waste of everyone's time and money. The letter idea is a good one but you should get onto the agent today and get them to call her up now she's had a chance to sleep on it and the dust has settled.

The agent should be pointing out that in the current market she's lucky to have a buyer at all and that you're ready to exchange right now. It sounds like there's more to this tbh than the kids don't want to move but you've got nothing to lose by chasing it up today. A last throw of the dice if you like.

Good luck.

 

[Pavlik]

i hope that woman's cunt explodes.

I go with the arson suggestion or putting bricks through the windows.

there's some lovely types on this site aint there

Sorry to hear about that though Chris. I cant say I've had the same experience but I did have the opposite once. The woman who was selling me a flat held the price at £23,000 even after it took them months to work out the legal papers and she could have quite easily doubled the price.
So people aren't all bad.
I'm not going to wish for a property price crash for you because that would mean I'd lose loads of money but good luck.

 

[Cloo]

The laws need changing to stop sellers wasting the money of buyers (and vice versa), and make people realise that they're playing with peoples lives. From what I've heard the Scottish system seems to avoid most of this shit.

The really stupid thing is that no one benefits (except maybe surveyors) - the government, buyers, sellers, estate agents, the economy; they don't get anything from it. No one actually benefits from the fact that people can back off at any time for any reason. Time for one of those online petitions?

 

[pennimania]

I would agree that trying just one more time might give you a result.
I was once in a situation like that and the man decided he didn't want to sell right at the last minute.

A week later he changed his mind and the sale went through.

If it doesn't work then definitely write the letter. Why should she not at least feel a little pang of guilt?

 

[Rollem]

thats proper shit ((((chris and his mrs))))

hope you guys dont feel down for too long, and that this simply means that the next place you find and secure will be double the mint that you thought this place was

 

[girasol]

Sorry to hear about that but I also think it's a blessing in disguise! Give it another few months, save up as much as you can so you have enough for 10% deposit at least, and buy something better and cheaper.

When I first tried to get mortgage in 2003 (just before getting mortgages was easy), I had to do a lot of ringing and begging (because my mortgage was more than 3 times my salary, hahaha how things have changed, no one wanted to give me a mortgage). Back then you coudn't even get one if you didn't have 10% deposit! Basically things are reverting back to those days...

 

[Badgers]

After 14 weeks of non-stop hassle, the day we were due to complete the purchase the woman we were buying our house from has pulled out because her sons told her they don't want her to move.

What. The. Fuck.

So, that's 14 weeks and over £1000 of our money wasted. The onward chain is an elederly woman who had a funny turn when told the news and is now in hospital.

I hope the stupid woman had some idea of the shit she's caused.

We now have 12 days in which to find a place to rent. We can't afford to buy anymore because this purchases rinsed all our cash. Stupid fucking house sale laws.

FUCK

And to those that will respond with some property is theft wank, grow up.

I hate the fact that the industry is unregulated and things like things go on. We have been screaming for change to police the buyers/sellers/agents/developers etc for years and the best that anyone could come up with was HIPS

 

[The Boy]

I hate the fact that the industry is unregulated and things like things go on. We have been screaming for change to police the buyers/sellers/agents/developers etc for years and the best that anyone could come up with was HIPS

ANd the thing about HIPS is that they started out as a good idea from what I understand, but it got diluted and amended (no doubt at the behest of surveyors) and they're shite.

The seller should arrange a mortgage valuation report which should be available to anyone (even if it is at a nominal fee) rather than every potential buyer having to arrange a seperate valuation. If you end up bidding for several properties for whatever reason ( and this is prob more likely in Eng than up here) you can lose a fuck load of money.

 

[mattie]

ANd the thing about HIPS is that they started out as a good idea from what I understand, but it got diluted and amended (no doubt at the behest of surveyors) and they're shite.

The seller should arrange a mortgage valuation report which should be available to anyone (even if it is at a nominal fee) rather than every potential buyer having to arrange a seperate valuation. If you end up bidding for several properties for whatever reason ( and this is prob more likely in Eng than up here) you can lose a fuck load of money.

Spot on, I reckon - pay once for a survey, and then if it has a lot of interest (i.e. you've valued it correctly) the interested parties pay off a nominal bit of the survey fee - the survey is actually for the buyer, so that their lender knows they're getting a sound property worth at least the loan amount, so it's perhaps reasonable to expect them to pay for it. What's nonsense is multiple versions of the same survey, each potential buyer paying full whack with no guarantee it will lead to a purchase.

Yeah, in Scottish law, once you accept an offer you're under obligation to continue with the sale, it's not like England

As I understand, the Scottish system is a closed auction, so each buyer writes what they're prepared to pay, on the given date the bids are opened and the seller picks a bid. Once accepted, as far as I understand, the deal is considered complete and there are pretty stiff penalties for dropping out. No gazumping, no gazundering, no petty little games.

 

[EastEnder]

Spot on, I reckon - pay once for a survey, and then if it has a lot of interest (i.e. you've valued it correctly) the interested parties pay off a nominal bit of the survey fee - the survey is actually for the buyer, so that their lender knows they're getting a sound property worth at least the loan amount, so it's perhaps reasonable to expect them to pay for it. What's nonsense is multiple versions of the same survey, each potential buyer paying full whack with no guarantee it will lead to a purchase.

I imagine a potential problem would a perceived conflict of interests - as a buyer, the surveyor is working for you, because you're the one paying them. Would you place the same faith in a survey drawn up by a surveyor working for the seller? And what happens if the buyer wants to question the surveyor about some aspect of the survey? At present the buyer pays for a survey, and the surveyor may be expected to answer queries from that buyer. If the seller commissions the survey, is the surveyor expected to respond to unlimited queries from an arbitrary number of buyers?

 

[Mrs Miggins]

Would you place the same faith in a survey drawn up by a surveyor working for the seller?

If the law were changed in such a way that it was legal (and easy) to sue the surveyor if anything in the report was untrue, that would probably get rid of that particular conundrum!

 

[mattie]

I imagine a potential problem would a perceived conflict of interests - as a buyer, the surveyor is working for you, because you're the one paying them. Would you place the same faith in a survey drawn up by a surveyor working for the seller? And what happens if the buyer wants to question the surveyor about some aspect of the survey? At present the buyer pays for a survey, and the surveyor may be expected to answer queries from that buyer. If the seller commissions the survey, is the surveyor expected to respond to unlimited queries from an arbitrary number of buyers?

I could see a situation where, when acting for the seller, the surveyor charges buyers pro rata for additional information, and then we're essentially back to square one.

 

[Errol's son]

Not that many people do it but you could get your solicitor to draw up an agreement whereby once the offer is accepted she is liable for any costs incurred should she pull out between then and exchange of contracts and whereby you are liable of a penalty of let's say for instance £1000 should you change your mind after having made your offer.

 

[innit]

If the law were changed in such a way that it was legal (and easy) to sue the surveyor if anything in the report was untrue, that would probably get rid of that particular conundrum!

You can sue the surveyor for negligence in drawing up the report (I can't imagine it's easy though), likewise you can sue a solicitor for negligence in doing searches

 

[Mrs Miggins]

Once accepted, as far as I understand, the deal is considered complete and there are pretty stiff penalties for dropping out. No gazumping, no gazundering, no petty little games.

I'm not sure I like the idea of closed bids but I think stiff penalties for dropping out could stop a lot of the messing about that seems to happen in England. I hear these sorts of tales all the time. Once an offer has been accepted, that should be that.

 

[zenie]

Not that many people do it but you could get your solicitor to draw up an agreement whereby once the offer is accepted she is liable for any costs incurred should she pull out between then and exchange of contracts and whereby you are liable of a penalty of let's say for instance £1000 should you change your mind after having made your offer.

Which no-one would ever sign

 

[Mrs Miggins]

Which no-one would ever sign

Should be the way it works though - people would still buy and sell houses - they just wouldn't drop out so often without thinking long and hard about it...

 

[Diamond]

That's really shitty. English Land Law is a bit of a mess anyway. They've been trying to reform it piecemeal for decades and have mostly gotten into a bit of a mess. Presumably the only reason they haven't concentrated more on gazumping is because it is conducive to a 'healthy' market. I wonder what would happen if we had judges like Denning around these days with the courage to stand up to government failure and clear gaps in the law.

 

[Minnie_the_Minx]

Only just noticed this thread. Sorry to hear your shit news Chris

 

[Errol's son]

Which no-one would ever sign

I would have no problems signing a contract such as this... I have been messed around by too many buyers who put an offer in and then withdraw. But drawing up an arrangement such as this is probably only worth it if you are spending a substantial amount on professional fees. On a run of the mill terrace or two bedroomed flat when you are just getting a RICS type surveyor round, it probably wouldn't be worth it.

 

[8den]

Absolutely shit news mate, and English property law sucks rancid donkey sweat.