Is it dodgy?

Worried

Doozergirl wrote: »

I would, generally speaking, not book a valuation until a vendor had found somewhere to move to. Sometimes vendors take months to find somewhere and there's no actual benefit to you starting the ball rolling; in fact, it can be a bit of a gamble as they may be completely disillusioned with what is available and pull out. If you all start together, you at least know that people are definately on the way to moving.

I'm thinking now that the other people that have offered are waiting for the vendors to find somewhere before booking survey. That is how/why the EA has the opportunity to shove you in there and are push you into the better position in the vendors eyes by manipulating you into having the survey undertaken because they won't stop marketing until you do.

Can you see what I mean?

I can see what you mean, yes. Perhaps this is what is happening. Isn't it usual for sellers to want to see some sign of commitment from a buyer before they stop marketing though? Is it really unheard of for a seller to refuse to remove house from market until buyer gets ball rolling?

shelly

Worried wrote: »

Isn't it usual for sellers to want to see some sign of commitment from a buyer before they stop marketing though? Is it really unheard of for a seller to refuse to remove house from market until buyer gets ball rolling?

As I mentioned before, soon as we accepted the offer from our buyers we told the EA to stop marketing it. Like wise with the house we bought. The offer was made on the condition that it was taken off the market.

I personally would spend no money if I was in your shoes. Your vendor doesn't even have anywhere to go at the moment, what if, like Doozergirl said, they don't find anywhere and pull out? You have then spent money and wasted time waiting when you could have still been looking at houses and found something better.

mchu6am4

The EA will generally (well in my case it happened this way) suspend any more viewings/marketing of the property as soon as they are informed of a 'date' when the survey will take place from the surveyors.

They only need a survey 'booking date' - not actual survey being completed. This way, I had to chase my bank to tell the surveyor to at least book a date with the EA so that they can take it off the market (which they did).

Ash

Tiger_greeneyes

The balance of power is with you though, Worried You're a good buyer and the agent knows that, it's the reason they're pushing you to get your valuation booked - you're less likely to pull out if you've invested money in it.

Also, I think they may possibly be pressurising you to book your survey so the vendors feel obliged to find somewhere as soon as possible - as it is, their fee isn't guaranteed until the vendor has found somewhere to move to - the vendors can take the house off the market anytime they like without penalty if they decide not to move.

The agent will get both the fee from the sale and the commission for your mortgage. You are their key to lots of money and they know it. That's why the balance of power is with you! That's why they're mucking the other purchasers about - if they don't sell to you, they miss out on £££'s.

That is the reason you can put your own conditions on the table. Ie, make sure the vendors have found somewhere and you have assurance that the property is off the market before you spend any money.

Have the agents not asked you for solicitors details yet btw? That's normally the first thing they do...

When it comes to surveys, when you're with your mortgage advisor and you're filling in the forms to request a survey, you need to ask for a building survey (full structural survey) if that's what you want. The Abbey survey office will get a surveyor to contact you and give you a quote. That surveyor will also undertake your valuation report at the same time.

Don't do something just because the agents are telling you to. The only thing they care about is their commission and will do whatever it takes to get it. They won't care if you lose your money in the process - and the circumstances are very shaky right now. A few people have said the same thing

Why don't you speak to your advisor, tell them you want a building survey. He may ask you for the fee for the valuation but don't pay him - tell him you'll drop a cheque off in a couple of days. Get the quote for the building survey, get the terms & conditions sent to you by the surveyor (you need to sign and return with payment before they survey) but make sure the surveyor doesn't book the survey until you give them the go-ahead. That will give you a few days to consider all the advice you've been given and decide what you're going to do next. It will also appease the agent because you're doing what they want you to do - but you're not parting with any money - which is the most prudent thing you can do right now, imo.

Personally, I'd like to see you posting that you've got everything in place for the survey to be done, but you've told the agents that you're just holding off until the vendors have found somewhere to go. Your survey could be done within a couple of days when the vendors have confirmed they're sorted, and everyone will be happy

I know the agents are panicking you but try to keep your feet on the ground - at the moment you're going around in circles. Pick the bones out of everyone's advice and do what you feel is best - at least that way you won't have any regrets because you've done what you're comfortable with.

MORPH3US

What a mess... hope you get it all sorted soon Worried!!!

M