MegaSack DRAW - This year's winner is user - rgwb
We will be in touch
Accepted an offer on my house six weeks ago, had the initial flurry of arranging solicitors etc, but since then nothing. My buyer has apparently paid for a survery (three weeks ago) and is wating for a date.
Does this eem right? Thinking that if they can't get a survey done in two months then it really should go back on the market.
Can i do that?
In England or Wales, yes, absolutely.
Get the estate agent to mention to the buyer that you're getting concerned at the lack of progress and that it will go back on the market if contracts have not been exchanged by X date.
Give your estate agent hell.
ask for an exchange of facts with estate agent - but to be fair survey is at least something - and (if it suits you) put a deadline on exchange after which prices goes up by X%....
.
I did some digging in a similar situation, the 'cash buyer' was someone who's aunt had died, leaving a house requiring structural repair, once that was repaired and sold they'd have the cash ...........
I have never taken the house off the market until exchange makes sense really and keeps everyone on their toes..
Six weeks?!
The process has only just begun - we've never done a house sale/purchase in less than 3 months
Just have a bit of patience!
But as others have said our houses have always stayed on the market right up to the final day.
My buyer has apparently paid for a survey (three weeks ago) and is waiting for a date.
Sounds like nonsense - I can't believe surveyors are that busy at the moment.
apparently banks are taking ages to put offers out and getting everything in order....
It takes as long as you or the other party let it.
We just bought our house in under 4 weeks from start to finnish, absolutely every one laughed at us (solicitors, estate agents, mortgage brokers etc) saying their is no way you can achive it in that time scale. Both parties wanted a quick sale and it took a fair bit of harrasing.
Really you just need to make a general nuisance of yourself untill things start to happen.
Hope it goes well.
jacksta : We were advised by our mortgage broker that certain banks / building societies can take in excess of 6 weeks to approve a mortgage. Nationwide did it for us in 4 days.
Leaving house on the market - well you wouldn't have had me as a buyer as I bought my 3 houses on the basis they were taken off the market when off accepted. Of course if things take too long then you can threaten to put it back on again.
When buying/selling I make it my business to find where hold ups are as sometimes leaving it to solicitors isn't a good idea as they only care so much....
it once took me 10 weeks from 'selling' a car for the ****ing thing to be completely paid for and gone.
in contrast our house purchase was done and dusted in three weeks from 'yes' to keys - would have been two but we opted for a more thorough survey at the last minute.
speak to the buyer directly if you can. my folks have moved house something like 17 times in 30 years ( i keep finding them though ! ), and my old dear, former estate agent, always get's everyone's phone number if they're in a chain, and rings them all up if there are any hold-ups.
What tiger_roach said - My offer's conditional on the house coming off the market - I'm not going to fork out for survey, etc otherwise.
Call or e-mail your solicitor as if your ready to go (if you're buying another house) they should be chasing the rest of the chain but sometimes need prodding every couple of days.......
I bet the problem is with the lender.
I had difficulties with a survey buying my house many years ago (chain free). It was over a question of whether subsidence claims would be met, due to a willow tree which my independant arboriculturist stated in writing, was too far from the house to present a problem. This came about after an ssue was flagged by my lender's surveyor.
This all happened because I had paid for a buyer's report and had hassled the lender due to a long wait getting a surveyor to site. Eventually this was arranged, but the estate agent told me on the agreed date that the surveyor had picked the keys up after it had got dark. I then asked the lender how the surveyor could prepare a report on the exterior of a building, without actually seeing it! Subsequently, a second visit was arranged by the lender whereupon the disgruntled surveyor flagged a "non-problem", i expect out of spite. We had been seriously dicked about and several weeks were lost due to the lender who were particularly casual and unresponsive to their customer!
The lender was non-commital about the question of subsidence claims being met, despite the professional report which I had sought and at the recommendation of their own surveyor's report. This wrangling went on for a whole month at which point we got fed up with their nonsense, so i asked my mortgage broker to find a different lender. It was a pleasure telling the first shower to stick their loan where the sun don't shine. 😀
A new lender was sought and found the same day and they sent a surveyor the same afternoon! No problems were found with the property and exchange took less than two weeks from the first call from the bank. We had moved in a month later.
ALL our troubles were caused by the bank!
Good luck!
Nationwide did it for us in 4 days.
We've just got approval through from the HSBC in the same sort of time so there are some fairly swift movers out there. We've been assured that from signing the forms on Friday it should take no more than a couple of weeks to get the surveyors out and have the money released.
you just need to make a general nuisance of yourself untill things start to happen
Top advice that, call every day if need be. And make your agent do the legwork, they're raking enough cash in for the pleasure of what amounts to little more than a few hours work (if that) in real terms.
What taki said. They're "earning" several thousand from you for the privilege; make them sweat for it!
Always amazes me, when it comes to buying and selling houses, what pr1cks people can be...all down to greed.
I've been shat right on by sellers employing some of the practices advised here, and then getting carried away. If only everything worked like the STW classifieds eh? Gentlemen's agreements, jumpers for goalposts 🙄
What tiger_roach said - My offer's conditional on the house coming off the market - I'm not going to fork out for survey, etc otherwise.
+1 that man.
****ing greed....
The Scottish missives system works much better.
For the life of me I still do not understand why the English system has not been changed to give more certainty to all parties involved.
Oh crikey, let's not start on blind bids OVER the sale price eh?
It gives more certainty, yes, but it's not necessarily better. The English system needs to be improved, but so does the Scottish one.
Rich_s - Member
Oh crikey, let's not start on blind bids OVER the sale price eh?It gives more certainty, yes, but it's not necessarily better. The English system needs to be improved, but so does the Scottish one.
Sorry mate, I have only been involved in buying stuff fixed price, so I forgot about the offers over system...
The English system needs to be improved, but so does the Scottish one.
The Scottish system is much better now with the sellers packs that include a mortgage valuation survey so at least as a buyer you don't have to fork out for a number of surveys. You are correct though it could do with a few more changes to adopt some of the practices used in England to get away from the offers over system.
I would only take my house off the market after confirmation of Survey, if no update within say 2 weeks going straight back on. Unless vendor can give me genuine reason, I would presume they have not secured mortgage yet as Lenders are really quick with assigning surveys.
Ho hum - don't worry, it hit a nerve as we've got friends up in Glasgae who've lost out on quite a few houses recently because of this very reason. If anything encourages wild speculation on property it's "offers over" but the Scottish system of pre-survey and guaranteed buyers would sort out a lot of the problems down here...
The only people who got rich out of the "offers over" system were surveyors and sellers!
well seemsthe fault lay at my door ....sort of....
Get a phone call from my solicitor, saying they had sent some questions out that the buyer had asked to the wrong address, very sorry and they'll send them out today...
so all seems explainable now, the what is being left form, the have you had any rows with your neoghbours stuff, any sewage issues questions still all to be done.
put it down to my wifes casual it'll happen when it happens attitude and refusing to chase the solicitor...lets see if things start moving once those forms are done...
I wouldn't expect a hold up due to that form - it's not, if you like, on the critical path.
You're wife seems a lot more laid back than mine!