Offer Accepted !!! - What next?

anuarun

Hiya!!!

I've finally got my offer accepted by a vendor.
I'm a FTB,

Can anyone please advise on my next step....

Should i get the survey done or appoint a solicitor or talk to my mortgage manager .........what happens next?

Please advise....

AA

JennyW_2

speak to both your solicitor and mortgage lender however your solicitor should now be able to guide you - oh yes, and the EA should be able to assist as well. It's a bit of a juggling act now....

courtjester

All three together ! - you need to get the ball rolling with your mortgage company asap as they will be very busy and you need to get your application in the queue. They would normally arrange the survey for you - they will want a valuation survey for themselves and you need to consider asking them to upgrade this to a home condition report (for your interests) or even a full structural survey if the property is pretty old.

Provide the vendor or their agents with your mortgage company details and financial arrangements and what is happening about the survey (mortgage company to contact for appointment to survey within 2 weeks etc).

Appoint a solicitor /conveyancer to act for you and provide the vendor /their agents with your solicitors contact details.

Forward the information quickly and this will show you are serious about progressing matters. Keep on top of your mortgage company /surveyor and solicitor and if things are not going according to schedule chase them up and find out why.

Keep the vendor informed of dates and progress.

A memorandum of sale is quite a good thing as this sets out on one piece of paper the identity of all the parties and their representatives and the agreement in principle - it has no legal standing but is a good reference document for helpng everyone to keep on track.

The vendor's agent would normally produce one of these, but free xamples are available at http://www.lawpack.co.uk/sell_your_own_home_downloads.asp

Jorgan_2

Agree with courtjester, the only thing I will add is that you may want to ask the mortgage lender to hold of doing the survey if the chain above you is not complete. Make sure you tell the EA that you are doing this & make sure they tell you when the chain is complete so you can instruct the lender to send the surveyor in. If you are having a free survey, just let them crack on with it.

ems2

Jorgan - How do you get a free survey?

AndrewSmith

It depends on which mortgage company you are using.

Some will charge you for a valuation, some will do it for free.

Andy