Timescale query - from accepting offer

PottyHouse_2

Hi all,

We accepted offer on our property on Monday 22nd Feb with our Buyers accepting their offer on Saturday 20th Feb.
Apparently they have been (and are still ???) on holiday ??? so our EA desperately trying to glean basic information from their Agents such as Solicitor's details - our EA have also been in touch with our Buyer's Daughter in Law but even she hasnt been able to give this information.

Now just got a call from my EA in that a survey which was meant to happen on our Buyer's property still hasn't happened and they cannot find out why.

Alarm bells are ringing, our EA saying it's not good news and for us not to spend any money yet ( I guess our survey and valuation for the property we are buying ).

I am trying not to worry - we got messed around so much last year by circumstances similar to this and I really think our Buyers want to buy our home.

Can anyone give any guidance on how soon surveys etc are meant to be carried out and if our EA are worrying unnecessarily ???? !!!!!

I would add; apparently our Buyer's Buyers are CASH buyers ie they have a property to sell but don't need a mortgage to purchase so I'm not sure what difference this would make ??

Thanks in advance.

Fire_Fox

Sorry but if nobody at your end knows anything then you have ust asked a 'how long is a piece of string' question.

timmyt

PottyHouse wrote: »

Hi all,

We accepted offer on our property on Monday 22nd Feb with our Buyers accepting their offer on Saturday 20th Feb.
Apparently they have been (and are still ???) on holiday ??? so our EA desperately trying to glean basic information from their Agents such as Solicitor's details - our EA have also been in touch with our Buyer's Daughter in Law but even she hasnt been able to give this information.

Now just got a call from my EA in that a survey which was meant to happen on our Buyer's property still hasn't happened and they cannot find out why.

Alarm bells are ringing, our EA saying it's not good news and for us not to spend any money yet ( I guess our survey and valuation for the property we are buying ).

I am trying not to worry - we got messed around so much last year by circumstances similar to this and I really think our Buyers want to buy our home.

Can anyone give any guidance on how soon surveys etc are meant to be carried out and if our EA are worrying unnecessarily ???? !!!!!

I would add; apparently our Buyer's Buyers are CASH buyers ie they have a property to sell but don't need a mortgage to purchase so I'm not sure what difference this would make ??

Thanks in advance.

Well.....cash buyer means just that (no related and no mortgage). Because yours need a mortgage, the Buyers may go cheap and not have a survey done but their lender will carry out a valuation survey. This can take place at any time. Some Buyers will instruct (and pay for it) as late as possible in case something goes wrong and they have to pull out or you pull out as seller - as they do not want to waste their money. FTB are often paranoid like that.

Surveys again can take place at any time. It is a sign of committment when they are undertaken, as they have to be paid for.

FTB are a pain in the neck quite often too, as they are inexpereinced yet think they are running the show.

Write to their lawyers and say can they confirm when their clients will be surveying as 3 or so weeks have gone by now, at a time when they have no related sale it should be forward forward forward.

<sebb>

PottyHouse wrote: »

so our EA desperately trying to glean basic information from their Agents such as Solicitor's details - our EA have also been in touch with our Buyer's Daughter in Law but even she hasnt been able to give this information.

timmyt wrote: »

Write to their lawyers and say can they confirm when their clients will be surveying as 3 or so weeks have gone by now, at a time when they have no related sale it should be forward forward forward.

They dont know who the solicitors are yet to write to them.

I assume you still have your house on the market? And as such can accept another offer if it is made?

Your buyers dont seem at all committed to the sale. It seems odd that they have gone on holiday shortly after making an offer, without telling the EA how long they'll be away for and giving solicitor's details.

I'd keep looking for another buyer if I were you.

timmyt

sorry, ignore my final para. i agree with Sebb, so that if their own agents cannot confirm solicitor details then get the hosue back on the market as the Buyers are not taking the deal seriously to go on holiday without getting things in place before they went

seabright

I always suggest that my clients allow at least 2 months between making an offer and moving house.

Cash buyers often aren't really cash buyers, chains appear when people say they are chain free, mortgage offer take forever to be issued, people go on holiday.

Stuff happens, basically. Allow 2 months and you migh tbe pleasantly surprised!

PottyHouse_2

timmyt wrote: »

Write to their lawyers and say can they confirm when their clients will be surveying as 3 or so weeks have gone by now, at a time when they have no related sale it should be forward forward forward.

Thanks for your advice.

Problem is after nearly 3 weeks we DO NOT KNOW who their Solicitors are !!!!

I suppose this answers everything ??? !!!!!

PottyHouse_2

<sebb> wrote: »

They dont know who the solicitors are yet to write to them.

I assume you still have your house on the market? And as such can accept another offer if it is made?

Your buyers dont seem at all committed to the sale. It seems odd that they have gone on holiday shortly after making an offer, without telling the EA how long they'll be away for and giving solicitor's details.

I'd keep looking for another buyer if I were you.

Just gone back on Rightmove today (we should have known better to let our EA take it off in the first place) now I am expecting a call from our Vendor's EA to see why we are back on the market - they only accepted our offer a week ago.

Yes, when our Buyers put their 1st offer in they "were on holiday" and at the time I thought it odd, that excuse is still being used and their Daughter in Law is the only contact. The fact that they are mid 60s and perhaps do not want to deal with all the stress of Solicitors and EA and using that excuse is fine with me as long as we get answers !!!!

Also, their house is on Rightmove but not stated as "SSTC" so I am thinking there is a problem below them or at the bottom of the chain.

Thanks for your advice.

PottyHouse_2

Fire_Fox wrote: »

Sorry but if nobody at your end knows anything then you have ust asked a 'how long is a piece of string' question.

Well if an average house sale takes 8 to 12 weeks .... 3 weeks have been wasted without any contact from their EA or advice of their Solicitor.

timmyt

try and get your agents to agree dates along the chain at the very start of a deal. easier said than done, but try. as a solicitor, I love it when clients say I have to complete within 28 days and by heck I will do my bit to make sure it happens.