Would this make us proceedable?
I sold my house last year and got quite a lot of money out of it as equity. I moved into my fiancé’s house and now we are in the process of selling his. His is shared ownership, so we have to sell it a certain way due to the legalities of it.
We’ve found a house we love and offered on it. Our offer isn’t being taken seriously by the seller because we are not “proceedable” as my partner’s house has not been offered on yet.
Here’s the thing: I have the full value of the deposit in my bank. Originally I was going to put down £60K and my fiancé would put down £15K when his sells. If I were to put down the entire £75K deposit and show proof of funds to the estate agent, as well as an agreement in principle for the remaining value, would that make us proceedable even if my partners house hasn’t sold? Would that be a smart thing to do? We obviously don’t want to miss out on this house.
He would then pay me back £15K when the sale of his goes through.
What do you think? Good idea? I need a sense check! Thanks all.