losing deposit panic!

[SaligoBay]

Panic moment!

Everything was in place for a house move on Oct 5th.   Money transferred from UK, etc, mortgage applications filled in with BNP, authorised, everything.

BUT (of course, it's me in France, innit!), the BNP, in spite of assurances that the offre de pret would be with us at least 3 weeks ago, and in spite of repeated phone calls from us, couldn't be bothered getting their finger out, and we only received it yesterday.

We knew about the 10-day delai, which the BNP said was from the day the offre was posted.  But the notaire now says we can't send the reply until the 11th day after we receive it, AND can't count weekends, so can't even return it till Oct 11th.  We asked him if there was any danger of losing our 14500 euro deposit, because this puts us after the agreed date, but he wouldn't commit himself.

Please please please someone tell me this is normal.  Please?  

 

[Coral]

Don't worry. I had something similar in July.

The loan company suddenly changed its mind about the mortgage two weeks before the signing the acte de vente because I do not work in UK or France. Panic!

The vender then wanted to sign a week early!! More panic!

Contacted the notaire and said 'No way! I want it a week later.' Cashed in a fund I'd inherited - they sent the money to a bank in USA not UK or France! (And I am not american!!)

Contacted the notaire again and confirmed that yes, I had the money but the transfer was delayed due to bureaucracy. It would be sent straight to his notaire account. Got the account details - contacted USA - and told the agent ...

Held my breath!

I flew to France and signed on the 12 July instead of 30 June.

Fax all the documents confirming the loan and your money sources for your purchase to the notaire and I am sure that he will tell the vender not to worry. Also you could call in your agent - he/she wont want to lose their commission. I am also quite sure the venders do not want to go through the selling procedure again and then waiting for the signing 2 or 3 months later - even for 14,000 euros.

Good luck - Hang on in.

Coral

[Alexis]

I have never heard of not being able to count weekends.  If the 10th day falls on a Sunday you have to wait until the Monday to post it but apart from that...?

Even if they recieve your papers back at the bank, there might be another delay whilst they organise the payment.

What about the clause in the acte relating to everything depending on the mortgage? 

Anyway, fingers crossed.... 

[Teamedup]

The BNP crapped upon us from a great height when we took our first loan with them.

Friends recently have had nothing but trouble with them getting things sorted out for a house loan.

So you saying this does not surprise me. For some of us they seem to have a policy of allowing their staff to ignore clients requests, using logic and allowing them the liberty to completely reinterpret french regs re house buying and make their own up. This of course is just MHO.  

When we swopped our loan over to the CM eventually, that was a month later than it should have been, the BNP didn't get things ready on time, I was not surprised.

[SaligoBay]

I did swear we'd be out of the BNP the first chance we had, but as luck would have it, when we were looking for a mortgage they had by far the best rates.  If I thought another bank could do it faster at this late stage, I'd change today.

The inter-bank transfer from Lloyds went smoothly, the BNP have had our money for weeks.  Fobbed off with repeated "yes yes, the offre will be with you soon, there's plenty of time" etc, refused to give a date or anything.

I hate the BNP!!!!!!

 

 

[Teamedup]

Sorry SB but that is what happened to our friends to. Made them a great offer they couldn't refuse and even I'll admit the offer it self is really good.

[Kent]

We had an even closer panic on the day we were dur to sign the acte. We turned up at the agents ready to all go to the notaire together to find out that a certain company who sends "money direct" had failed to transfer the funds despite having the RIB of the account and all of the details.

We were extremely lucky as the immobilier paid the remaining funds via a cheque from his business account - it took nearly a week for the money to make it to his account. Apparently according to the man at the company who transferred it, it had been refused by the bank in France and been returned to the UK where it sat in an account that nobody checked!!

We got there in the end and couldn't be happier - and I have to say that we got a great deal with Societe Generale (in fact two great deals) and they couldn't have been more helpful or more organised.

Hang on in there I'm sure it will all workout

[Miki]

French banks, don't you just luv 'em !

Fingers (and other bits & bobs !) all crossed for you SB.

You will laugh about all this in mid October (says he, crossing some more bits) 

[SaligoBay]

Congratulations Miki, 1000 posts!   Clearly a man worth listening to.

Mid-October, the signed offre will just have reached BNP in Marseilles.  I reckon by December they'll have got round to looking at it, by February they might start thinking about sending our money to the notaire, so about June 2005 our sides should start to split.

In the meantime, the vendors are running two houses, she's in the new one, he's staying where he is to avoid squatters.  He's already cancelled the electricity, water, etc, so has to get them all reconnected again..... we'll probably have to pay about 1000 euros for another month's rent in this place.....

.....and I'm VERY frustrated!!!!! Woot!

Please uncross all your bits, Miki.  I appreciate the gesture, but I'd feel responsible if you suffered inextricable entanglement of any bodily parts.  If you do it soon, the pins and needles shouldn't be too bad.

 

[Miki]

OOOOhhh thanks SB, feel a lot better all uncrossed !!

When we bought in Brittany, we instructed our bank to send the deposit to the notaire and offered them the whole Swift/Iban etc of the notaires account. On the day the signing of the promesse, there was no sign of the money, we were not going to be there and it was left to the immo and the staff to do the neccessary.

It arrived 48 hours later, so late but not desperately so ! but when the final acte was due, the Notaire insisted the money was in his account well before the signing. We instructed our bank in the Dordogne to send so much of our money from the sale of our house to the other Notaire and the remainder to our new bank. The bank got the money within 48 hours and the Notaire never got the purchase money until 14 days after !!

We talked to the owners every day until the money arrived in the account, even taking them for a couple of nights out, all the time convincing them that we were extremely serious and, in fear that they pull the rules in and stripe off the deposit. They were great and after a week they even let us stay in the property with them, which was very welcome, as we were by then, spending a fair amount of money on hotels and restos.

The cheque had done the Tour de France, the bank in the Dordogne had put in one figure wrong and even though it had the Notaires name and bank account in Dinan etc, no one had the sense to see that it was obviously a simple error that could have been easily sorted, no one it appeared, would take responsibilty, so off it went back to the bank and guess what,they put it back in the system as it was !! Incroyable eh!! but all ended well in the end, so have faith SB.

 

[SaligoBay]

Thank you Miki, and everyone else, for your wise and calming words.

I went to talk to the vendor today about it, he is of course not overjoyed, but doesn't hold it against us - in fact, he just sighed and shrugged his shoulders and said "oui, c'est la France, ça".

Now, I wonder if my "Yoga for House-movers" book has already been packed and transferred up the road.......

Thank you again, everyone.  It's going to be fine, I know it, I know it, I know it.  Thank you.  I love you all.  I feel like I've won an Oscar.

Kedgeree time.