Exchange in 48 hours?

alm721

I would agree with what other posters have said. Even if it were possible why would you want to? Buying a house is a massive commitement and if something is missed now due to rushing you will live to regret it. Why is the vendor so deperate to exchange, many of us have been messed about with buyers pulling out etc but still know that 48hrs is totally unrealistic. This sounds quite dodgy to me and I would be very wary if I were you.
You mention a possible bidding war, with who? Who has told you this the vendor or the EA? maybe they are not being truthful (it happens a lot!) where was this other buyer when the vendor was being messed about with the previous buyer? Why did they not try and buy the house then?
Seriously think this through! If the buyer is that desperate for exchange they really could be hiding something, or at least hoping you don't find something, prehaps the same thing that made the previous buyer pull out!

DVardysShadow

21 days would be quick and allow everything to be done, such as survey and searches. I would not want to do it quicker in your position and I would be totally suspicious of anyone who did not accept that 21 days is more reasonable and achievable than 48 hours.

timmyt

why do estate agents rarely try and nail down dates at the start. Time and time again I act for clients and those who fail to agree dates go slow and those who do go faster.

Sammy85_2

How can you possibly get the survey done in 48hrs? You would need to exchange without having the survey. What if your survey is bad and the surveyor gives a lower valuation than you have offered (which is fairly common these days) you're already tied into a contact by that point!

Madness.

timmyt

madness maybe, but so many people do not do surveys.

Sammy85_2

If you have a mortgage there will still be a basic valuation though.... and they are often lower than the amount offered.

timmyt

often hey. I have seen 2, max 3 in the last 200 deals I have done.

Sammy85_2

Well the house i bought was valued lower as was the house i sold, and the person above us in the chain. They are plenty of threads on this forum with the same story.

timmyt

and 99.9% are those that do not have that problem.

have you any idea how many sales hapen a week let alone a year

Hailstorm

A revised mortgage offer may not necessarily be quick.

My initial purchase fell through after I had received my mortgage offer. It still took my lender over a month to come up with a revised offer after I had found another property.