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Should I be worried?
sejdee
Posts: 26 Forumite
Hi
We sold our house 8 weeks ago to a cash buyer who is planning on developing the property and then renting or selling it.
All was going through ok and planned completion was supposed to be the end of May. However, buyers solicitor has recommended an additional survey and certificate and advised the buyer not to exchange until they have this.
The house was built early 60's and was originally of pre fab concrete construction. Mid 1980's a developer bought it and carried out a refurbishment before selling it on. This involved building a brick shell and removal of the pre fab concrete. We were fully aware of this when we purchased the property, and the survey we had done did not highlight any issues with this refurbishment work. We did have a full building/structural survey done, and no issue where identified.
Our estate agent says that this additional survey is just a formality and nothing to worry about, and the buyer is still fully committed to the purchase. The buyer has spoken to their surveyor who needs to visit the property and carry out an additional survey in order to produce a certificate. The deposit is sat with the buyers solicitor.
The house has been off the market for some time now, but I am becoming increasingly frustrated that no additional survey has yet been done (supposedly this week), or organised yet, and no dates have been set for either exchange or completion yet.
Am I just being a bit paranoid? Should I push for an exchange and completion date? Should I instruct the EA to re advertise the property? Or do I just need to be patient and chill out?
We sold our house 8 weeks ago to a cash buyer who is planning on developing the property and then renting or selling it.
All was going through ok and planned completion was supposed to be the end of May. However, buyers solicitor has recommended an additional survey and certificate and advised the buyer not to exchange until they have this.
The house was built early 60's and was originally of pre fab concrete construction. Mid 1980's a developer bought it and carried out a refurbishment before selling it on. This involved building a brick shell and removal of the pre fab concrete. We were fully aware of this when we purchased the property, and the survey we had done did not highlight any issues with this refurbishment work. We did have a full building/structural survey done, and no issue where identified.
Our estate agent says that this additional survey is just a formality and nothing to worry about, and the buyer is still fully committed to the purchase. The buyer has spoken to their surveyor who needs to visit the property and carry out an additional survey in order to produce a certificate. The deposit is sat with the buyers solicitor.
The house has been off the market for some time now, but I am becoming increasingly frustrated that no additional survey has yet been done (supposedly this week), or organised yet, and no dates have been set for either exchange or completion yet.
Am I just being a bit paranoid? Should I push for an exchange and completion date? Should I instruct the EA to re advertise the property? Or do I just need to be patient and chill out?
0
Comments
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chill out..If the work has been done as the original seller told you then you have not got anything to worry about....things take time,,we wanted to move in after 28 days,7 months later we moved..It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
If this is a repaired PRC property I'm surprised it didn't come up right at the outset, but if I were you, I'd hang in there as you're likely to get a similar situation with the next buyer.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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