What Happens After Survey??

K1RST1E_2

Evening All,

We're selling our first home; have accepted offer, solicitors have been instructed and the survey is being carried out on Wednesday. What happens after that?

We had agreed with the buyer to aim for the New Year to complete but I'm worried this may all be done and dusted before Christmas and we've not even sorted our mortgage out yet!

We've gone to a whole of the market mortgage broker now to help us find a lender with my atrocious credit history. Fingers crossed.

Thanks,
Kirsty

TBagpuss

Survey or valuation?
the Valuation report goes to your buyers mortgage lender and they should (all being well) then get their formal mortgage offer. The survey may throw up issues with the house and if so the buyers may need access for further reports such as an electrical survey. If there are problems then they may seek to renegotiate the price to take these into account.

They will be doing searches via their solicitor and once they have all that back will be ready to discuss exchange and completion dates with you (again via your solicitor)

if your buyers have a property to sell they will be going through the whole process with their already before you can exchange.e, and it will need the whole chain to be

K1RST1E_2

Thanks for replying.

I think it's the valuation report. We accepted an offer 4 weeks ago and heard from the EA at the start of last week that the survey is going ahead on Wednesday.

There's no chain either side so it could be fairly quick then.