Diary of a Buy to Let Purchase Part 11 – Throwing toys out of prams

I am not proud. I have become one of ‘those’ people. The ones who threaten to pull out of a property purchase because things aren’t moving ahead quickly enough.

BUT before you judge me, let me just explain to you what happened.

You may recall that I asked the estate agent to come back to me with details of the current tenant.

The tenant who will become my tenant if this purchase actually happens and thus it would be quite nice for me to speak to them, organise our arrangements going forwards etc.

I didn’t hear anything for two weeks, so I went back last Monday and put in the same request.

On Friday (and I will be the first to admit that I was having a bad day) I still hadn’t heard back.

I also chased my solicitor to find out where they were up to and was informed that they hadn’t heard from the vendor’s solicitor for over three weeks despite chasing.

And that’s when it happened. I sent the estate agent a snottogram of epic proportions saying that if I hadn’t heard back regarding the tenant, and the vendor’s solicitor hadn’t made contact with mine by close of business today, I was withdrawing my offer.

So today is that day, i.e. Monday and I am genuinely willing to ditch the whole thing if I don’t see any movement.

It’s also worth mentioning (more to demonstrate that people are so full of it than anything else) that when the agent got my email, all of a sudden they leapt into action and have managed to get me tenants contact details, and…..AND as luck would have it, the vendor’s solicitors confirmed that the information they have been waiting for to enable them to reply to my solicitor had just landed on their desk.

My a**e it had. The deadline for my solicitor to hear back still stands, so let’s see.

Now you may think that I am being ridiculous, as the odds of me finding another property and getting it across the line before 1st April is non-existent. And you would be right.

However, first of all, I can’t stand being messed around, and, dare I say it, lied to.

However, taking the emotional element out of this, the longer this goes on the more costs I am incurring and to be blunt, if this isn’t going to happen before the deadline then it’s not happening at all (that or the vendor would need to be willing to take a haircut on the purchase price) and I am not willing to throw more money at something which looks like it may not happen.

So that’s where we are.

I *may* have had another look at Range Rovers over the weekend, just to make myself feel better of course.

 

Diary of a Buy to Let Purchase

Follow Jeni as she recounts her experiences of becoming a buy to let investor for the first time.

Part 1 - It was that or a Range Rover

Part 2 - I've made £800 already and I haven't got the mortgage yet

Part 3 - The demise of Nathaniel Pig

Part 4 - Call off the dogs...

Part 5 - @***** bank account

Part 6 - Business bank account interview or Center Parcs?

Part 7 - Reality bites...

Part 8 - The method behind the madness

Part 9 - Join me in a buy to let fist pump?!

Part 10 - The silence is deafening  

Part 12 - Stuck with the Mini... for now

Part 13 - Time is running out

Part 14 - The end of my sad little tale...

Part 15 - Just call me Peggy

Part 16 - A year on my buy to let portfolio grows by default

Part 17 - If Carlsberg made tenants - shame the same can't be said for the tax man

Part 18 - Always open the envelope

Part 19 - OMG EPC FFS

Part 20 - Buy to let mortgages and tenants are like buses

 

 

 

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