Tactics for chasing slow buyer?

Kayalana99

Took us three months to buy our house It was all the mortage company...we was FTB's as well one hold up after another they gave us our mortage in principle then it was almost as if they were determinded for it not to go through?!

I would be asking your EA to call them to see what they say...tbh I didn't want to instruct a solictor so early on as well as they wanted money upfront...which I wasn't prepared to do untill the mortage company had stopped messing us around... I think thats understandable really.

phoebe1989seb

When we sold our last house in 2011, it was around four-five weeks before our buyers' survey (homebuyer's) was carried out, but despite the delay from offer to completion only took around nine weeks so I'd say your target date is still doable......

[Deleted User]

In my case (also in London) the lender didn't book the survey until about 4 days after I got AIP. When they did book it, the soonest slot was two weeks away. I got the mortgage offer a couple of days after the survey was done but the homebuyer's report didn't come through until 7 working days after that. I did plenty of pestering to speed all of these things up but it made no difference whatsoever. It really isn't in the buyer's hands.

When it comes to conveyancing, I chose not to ask the solicitor to do the searches until the survey was done as I didn't want to waste money in case the survey came back with something that would totally put me off. As I understand it this is quite normal.

highguyuk

As a FTB, I can tell you our delay is securing a mortgage appointment! Offer accepted last Saturday, I can't get an appointment in a NW branch close by until 3rd July.

lessonlearned

Windsor - surveys are taking a long time at the moment. 3 to 5 weeks is about the norm.

However, once the survey is done, a mortgage offer is usually pretty quick - assuming property surveys ok.

Again many solicitors advise purchasers not to instruct searches until survey results are in - for obvious reasons.

Windsorcastle

lessonlearned wrote: »

Windsor - surveys are taking a long time at the moment. 3 to 5 weeks is about the norm.

However, once the survey is done, a mortgage offer is usually pretty quick - assuming property surveys ok.

Again many solicitors advise purchasers not to instruct searches until survey results are in - for obvious reasons.

Thanks lessonlearned. My concern is that it's the survey that holds everything else up from proceeding. I don't want to alienate the FTB if it's not them messing me about but I suppose the EA could chase the lender directly and snap at their heels...

Windsorcastle

Thanks for all replies so far. Depressing to hear that the lenders are taking so long to instruct surveyors. I don't want to stress my buyer but I'm going to have a big problem if we don't complete by Aug 12th as there is a second charge on the property, and this is the date their valuation runs out, which decides what share I need to repay them. I don't want to risk having to get a new valuation done as they could now value the property higher which means I have to repay more. And in any event, from what everyone says on here about the delays with surveyors, if I need a new valuation at that late stage, we could be waiting another couple of weeks for that to happen.:(

Windsorcastle

phoebe1989seb wrote: »

When we sold our last house in 2011, it was around four-five weeks before our buyers' survey (homebuyer's) was carried out, but despite the delay from offer to completion only took around nine weeks so I'd say your target date is still doable......

Thanks Phoebe. That gives me a glimmer of hope!

Windsorcastle

lessonlearned wrote: »

Windsor - surveys are taking a long time at the moment. 3 to 5 weeks is about the norm.

However, once the survey is done, a mortgage offer is usually pretty quick - assuming property surveys ok.

Again many solicitors advise purchasers not to instruct searches until survey results are in - for obvious reasons.

Thanks lessonlearned. But I've also heard horror stories that searches can take a couple of weeks to come back too. Aaarrrgghhhh! No wonder buying and selling homes is considered so stressful! It sounds like chasing the survey is the key thing to get everything else moving.

Windsorcastle

olly300 wrote: »

That's unfair.

I was hearing a mortgage advice phone in on the radio on Sunday and they stated one of the issues was lenders were doing is sitting on buyer's paperwork then taking 4 weeks to instruct a surveyor who would then depending on the type of survey take up to 6 weeks to come out.

Thanks Olly. I don't want to be horrible to the buyer; I just want them to have the same sense of urgency and to be pushing their solicitor all the time. I take your point on board.