Survey Done! What Happens Now?

RAINBOW123_3

Good Afternoon.

At long last we have had the survey done on our flat.

Would anybody be able to let me know what hapens from here.

I asked him how long it takes for the report to be done and they said 1 to 2 days.

This dosent mean that it will be 1 to 2 til the buyers get an offer is it?

I did actually mean this but I asked the question wrong & didnt really want to ask too many questions.

Hope to hear from anyone who knows :beer:

pie81

sorry, don't quite understand the question.

Is the situation that you are selling your flat and your buyers have just had their survey done, and you want to know how long until they will get their mortgage approval?

RAINBOW123_3

Sorry pie81

Yep.

Does report & mortgage approval mean the same thing?

So where I asked the surveyer "How long does it take for the report to get done?

He said 1 to 2 days.

pie81

I don't think report and mortgage approval means the same thing.

I don't know, but I would imagine the process is like this:

- mortgage company's surveyor comes round to do the visit
- he takes 1-2 days to write his survey report, saying what's wrong with the property and what he thinks its value is
- the mortgage company will then consider this report and decide how much to lend the buyer - this could take a while, all depends how quickly the mortgage company's approval process takes
- then the buyer gets their mortgage approval.

RAINBOW123_3

That sounds about right.

Thank you pie81 for your reply.