How long does it take to get valuation/survey done

Hollura

Hi, I am after some advice please.

My elderly parents have very quickly got their house under offer - and the EA is pressurising them to instruct solicitors; however they do not want to incur legal costs should the sale fall through early on, so have said they will only instruct the solicitors after the valuation/survey is done.

The EA is very unhappy about this and has said that it could take 6 weeks for the valuation to be done - is this correct - in my experience of buying houses it was always done within a few days of the mortgage application being submitted.

Thanks in advance for any advice/opinions

izsushant

Hollura wrote: »

Hi, I am after some advice please.

My elderly parents have very quickly got their house under offer - and the EA is pressurising them to instruct solicitors; however they do not want to incur legal costs should the sale fall through early on, so have said they will only instruct the solicitors after the valuation/survey is done.

The EA is very unhappy about this and has said that it could take 6 weeks for the valuation to be done - is this correct - in my experience of buying houses it was always done within a few days of the mortgage application being submitted.

Thanks in advance for any advice/opinions

Hey, There are plenty of solicitors who offer a no sale no fee service. They generally charge an extra £100 for the service but it is well worth it.

http://www.moneysupermarket.com/conveyancing/ - use it to compare costs. Your solicitor can be anywhere in the UK so not an issue.

olly300

EAs always pressure people.

It takes about a week to 10 days unless they are cash buyers

I would suggest getting the buyers details yourself so when the EA tells you more stuff that sounds like rubbish you have the option of phoning the buyers up and you can tell the EA so.

Hollura

Thanks, yes, they are aware of this, and in fact the one recommended by the EA - who will pay the EA a commission for introducing them - is one such conveyancer - except it is not exactly "no sale no fee" as they want £100 up front - and I cannot see them quickly returning that in the case of it falling through.

They just want to know if the EA is exaggerating by saying it could take 6 weeks to do the valuation.

Hollura

olly300 wrote: »

EAs always pressure people.

It takes about a week to 10 days unless they are cash buyers

Thanks, yes I thought about that timescale would be about normal.

I would suggest getting the buyers details yourself so when the EA tells you more stuff that sounds like rubbish you have the option of phoning the buyers up and you can tell the EA so.

We do have the buyers name and address from the memorandum of sale, but I thought it wasn't considered right to contact them - the EA are supposed to be handling everything, although when I told the EA my parents viewpoint you could hear the frustration in her voice (EA), she then accused my parents of not being committed to the sale - which I told her is absolute rubbish and proven by the fact that they have already moved out of the house before it went on the market!!!

olly300

Hollura wrote: »

They just want to know if the EA is exaggerating by saying it could take 6 weeks to do the valuation.

The only time it will take 6 weeks for the valuation is if:
1. The mortgage company mucks up like in my case with Virgin Money. Though the valuer came out in 10 working days getting a completed report took longer.
2. The buyer is a cash buyer and hasn't appointed a valuer.
3. The buyer is getting a mortgage and hasn't started the application process. The EA will then lie to you about what is happening when it's nothing of the sort.

<sebb>

My survey was done 5 working days after having my offer accepted. However, I did consider a full structural survey and could only get a date for this 4 weeks from offer being accepted.

olly300

Hollura wrote: »

We do have the buyers name and address from the memorandum of sale, but I thought it wasn't considered right to contact them - the EA are supposed to be handling everything, although when I told the EA my parents viewpoint you could hear the frustration in her voice (EA), she then accused my parents of not being committed to the sale - which I told her is absolute rubbish and proven by the fact that they have already moved out of the house before it went on the market!!!

Of course you can contact them. It can speed things up otherwise you could be in a case of Chinese whispers with the EA.

Just do it with care.

For example if the EA says they need to exchange next week then contact them and ask this, however if the EA starts talking about fixtures and fittings say it's for the solicitors to deal with and don't contact them.

angelsmomma

Do not use any solicitor recommended by the estate agent. Get 3 local solicitors to give you a quote on what it would cost then instruct the one you like best.

They will not charge you until they open the case up, just give the estate agent their name. Inform them the contracts will not be drawn up until the survey is done.

Remind the estate agent she works for you not the other way round.

Hollura

olly300 wrote: »

The only time it will take 6 weeks for the valuation is if:
1. The mortgage company mucks up like in my case with Virgin Money. Though the valuer came out in 10 working days getting a completed report took longer.
2. The buyer is a cash buyer and hasn't appointed a valuer.
3. The buyer is getting a mortgage and hasn't started the application process. The EA will then lie to you about what is happening when it's nothing of the sort.

Thanks again,
1. yes possibly - sorry to hear about your experience!
2. I assume the buyer isn't a cash buyer or we would have been told that.
3. We wouldn't know about that, but the likelihood is that the EA will lie about any of it just to shut you up and get you to do what they want!

bclark

angelsmomma wrote: »

Do not use any solicitor recommended by the estate agent. Get 3 local solicitors to give you a quote on what it would cost then instruct the one you like best.

They will not charge you until they open the case up, just give the estate agent their name. Inform them the contracts will not be drawn up until the survey is done.

Remind the estate agent she works for you not the other way round.

Out of interest, as the seller, whats wrong with using the solicitor recommended by the estate agent? We went with them after getting 3 other quotes, and they were the cheapest/best value.