house buying stress! !

nimo20

Monday of last week we accepted a bid on our property and in turn had a bid accepted on a house we hope to buy. Our buyer is a buy to let and the house we are buying is chain free.
We are currently in limbo waiting for our buyer to arrange a survey. We've been assured by their solicitor that they are keen but as yet we've had nothing concrete. Our financial adviser has told us to wait until we have a date for the survey before we pay any money to the solicitor or process our mortgage application. I get that he doesn't want us to lose money if anything happens but this just feels like we're wasting time.
Any advice would be greatly received.

DRP

nimo20 wrote: »

Monday of last week we accepted a bid on our property and in turn had a bid accepted on a house we hope to buy. Our buyer is a buy to let and the house we are buying is chain free.
We are currently in limbo waiting for our buyer to arrange a survey. We've been assured by their solicitor that they are keen but as yet we've had nothing concrete. Our financial adviser has told us to wait until we have a date for the survey before we pay any money to the solicitor or process our mortgage application. I get that he doesn't want us to lose money if anything happens but this just feels like we're wasting time.
Any advice would be greatly received.

It is only a week.

Why not ask the EA to get in touch to find out what the (if any) delay in booking the survey is. I would give them 2 weeks then put the house back on the market.

nimo20

We've been in touch with the EA and they've said the couple are keen but there's nothing more they can do as its down to the mortgage company.

Emmajane1987

It might be just a case of that your EA hasn’t kept youinformed. I know in some parts of the country (where I am currently buying)there is a long wait for surveyors. I put my offer in on the 4thJuly, paid for my surveyor the next day but my vendor wasn’t informed until the24th July that my survey would be taking place on the 5thAugust. Compared to past history and other parts of the UK this is obviously avery long wait, luckily my EA has been great at keeping in contact with both meand the vendor.

witchy1066

gosh, a week isn't very long , we have just been told it could be up to 4 weeks before a surveyor is instructed

and was told it will take as long as it takes , that's me told

nimo20

I think my main issue is whether or not to go ahead and get our survey sorted. They seem to take an age to arrange so I don't really want to add weeks on when its not necessary.

Full_of_angst

nimo20 wrote: »

I think my main issue is whether or not to go ahead and get our survey sorted. They seem to take an age to arrange so I don't really want to add weeks on when its not necessary.

It was over 8 weeks for my buyers' mortgage valuation survey to be carried out. Probably best not to leave it too long!

hcb42

as a point of interest, I would be curious to know what is causing this sharp delay in surveyors - at a time the market has been slow, and for years...

DRP

hcb42 wrote: »

as a point of interest, I would be curious to know what is causing this sharp delay in surveyors - at a time the market has been slow, and for years...

over the last few years, many surveyors have left the industry...or relocated and now we're experiencing a bit of a boom in many parts of the country and the small pool remaining can't cope with the demand.

this is what my EA told me anyhow.

nimo20

Well we did some chasing up yesterday and have been advised the hold up was waiting on the buyers mortgage company. The buyer started a new job recently and they have been after extra info in relation to proof of earnings and his identity. I guess its just a waiting game!

Out,_Vile_Jelly

Huge delays in London at the moment- my survey date is nearly two months after I paid for it. They muttered about staff holidays and being extra busy; the estate agent was grumpy about it initially, but have now realised it's the current norm.