Offer accepted on our property, what next?

advice_please_2

Have accepted an offer on our property, whilst EA has gone away to do the detail. But what does and should the detail entail?

We need to find our next family home, so I guess need to know if the buyer is genuine, in good position, timing etc.

Apparently an investor as a buy to let with other properties already, also apparently they've spoken to their financial advisor and should be all good their side.

So a plus, no chain.
Maybe a negative, I know buy to let mortgages are hard these days, but apparently they have something like 60% already.

So what should I expect from EA, what next from them, us etc.?

cosmojohnson

If you want to be really sure that your buyer is really serious then don't start looking/offering until they have parted with some cash e.g. had a survey done on your property!

leew

I was going to ask the same question regards this!

We are 1st time buyers and we had our offer accepted last week, we are now just about to get the results of the Valuation and Survey back which he arranged with our Lender but after that not sure! Will just hope for a call from someone!!

Richard_Webster

Vital to have the buyer thoroughly checked, but don't wait too long.

You may find that your dream house is at the bottom of a long and as yet incomplete chain and your investor buyer may not want to wait forever. So the sooner you go out seriously looking the better.

eddddy

cosmojohnson wrote: »

If you want to be really sure that your buyer is really serious then don't start looking/offering until they have parted with some cash e.g. had a survey done on your property!

Hi 'advice please'

Maybe be a little careful with this approach. If the buyer had the same attitude, they might say "We're not parting with any cash (e.g. on a survey) until we know the sellers are serious - they haven't even started looking/offering on other properties!"

And the whole process gets into deadlock, because nobody wants to be the first one to make a commitment.

Perhaps an alternative approach is to find the place you want to buy, get your offer accepted and then you and your buyers both start arranging surveys etc at the same time. (And your respective solicitors can check each other out at that stage.)

Whatever approach you take, tell your buyer what you are doing. They may be completely happy about it, or if they're not at least you will know at the outset.

go_cat

You need to start looking for your ideal home, then when found you need to check before you spend any money that your buyers are proceed able.

It could take you months to find your house, are your buyers willing to wait?

advice_please_2

I'm still in early stages
EA rang me Monday afternoon with offer
Wednesday now and still no update, doesn't give me positive feelings if EA is chasing buyer on details when apparently left MSG and mail box full!?!

So what should I hear back from EA and time between communication?

I don't feel comfortable making offers when I don't if buyer is serious! Although no properties out there I like apart from one which is sold STC