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How long would you give a buyer to instruct a survey before pulling out?
curiousftb
Posts: 17 Forumite
Hello all
We've sold our flat (two days before our contract with our EA ran out). We offered our buyer (ftb) two weeks as a lock-out to get his survey instructed. Since then it's been one thing after another and it's now four and a half weeks since we accepted his offer and nothing is happening. I've said that if the survey isn't instructed by tomorrow we'll walk away which is a galling decision to have to make, not least because we've offered through the same EA on a house we really want. He's either with nationwide or natwest, I forget which. My concern is that the EA seems completely unconcerned. I find this odd as if this falls through he loses three sales in this chain! So my question is this - how long would you give a buyer to instruct a survey?
We've sold our flat (two days before our contract with our EA ran out). We offered our buyer (ftb) two weeks as a lock-out to get his survey instructed. Since then it's been one thing after another and it's now four and a half weeks since we accepted his offer and nothing is happening. I've said that if the survey isn't instructed by tomorrow we'll walk away which is a galling decision to have to make, not least because we've offered through the same EA on a house we really want. He's either with nationwide or natwest, I forget which. My concern is that the EA seems completely unconcerned. I find this odd as if this falls through he loses three sales in this chain! So my question is this - how long would you give a buyer to instruct a survey?
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Comments
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What about the other legal work - is that progressing? How far advanced is the rest of the chain?IANAL etc.0
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A further week from when you make contact with the EA.
There's nothing the EA can do. Your buyer is either encountering problems obtaining a mortgage , or wishes to delay the process for his own benefit.0 -
With either Natwest or Nationwide, 4.5 weeks is an issue and I suspect the Estate Agent knows this.
If it is booked in, then some of the lender Surveyors are under pressure at the moment but again assume the EA would have told you if booked in.
The fact your EA is not going bananas suggest they know something that you do not, or at the very least aware of more than they are sharing.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0 -
Ultimatums. Don't you just love them.curiousftb wrote: »I've said that if the survey isn't instructed by tomorrow we'll walk away which is a galling decision to have to make,
The better thing to say is that you are ending the lock out, because you can appear reasonable and you leave the door open.You might as well ask the Wizard of Oz to give you a big number as pay a Credit Referencing Agency for a so-called 'credit-score'0 -
I would do the same, just get it back on the market0
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