Sale contract but no house valuation?

stalkah

Hi All,
After some help. I have a house for sale that my ex and I own. We had an offer and accepted and everything has been moving on, but we've noticed there has been no valuation from the buyers mortgage company.

We've spoken to our solicitors and they said everything is moving on, and they've spoken to the buyers solicitors who said they're not aware of any problems.

Today we've received the Sale Contract to sign, which our solicitors advise is the final step before exchange date being confirmed, but still nothing about a valuation.

Should we be concerned?

Thanks

G_M

1) are you sure the buyer is getting a mortgage? If not, he my have decided not to bother with a survey or valuation.

2) signing the contract is not "the final step before exchange date being confirmed." It is just one of the steps along the road, and can be done early, or late, in the process.

stalkah

1) Apparently they are.

2) I'm only going by what I'm told as I live about 150 miles away from the property I'm relying on the ex. I had to go down when the offer was first accepted, to sign the papers with the solicitors. This latest thing is apparently the final thing after both solicitors have done their thing and we sign to confirm.

G_M

stalkah wrote: »

1) Apparently they are.

2) I'm only going by what I'm told as I live about 150 miles away from the property I'm relying on the ex. I had to go down when the offer was first accepted, to sign the papers with the solicitors. This latest thing is apparently the final thing after both solicitors have done their thing and we sign to confirm.

sounds like the 'thing' is the contract which is not agreed and signed.

edit: oops typo: meant now agreed and signed.

Does not mean everything else is sorted...

I suggest you borrow (free) a book on house buying/selling from th library to understand what needs doing.

stalkah

Thanks, I only have the information given to me from my ex, I might speak to the solicitors tomorrow for myself to try and get a better understanding of the situation and what this latest documentation is I need to sign.

(oh and sorry for all the "things" in the previous message )

pjread

How do you know there's been no valuation? might have been a drive-by...

stalkah

That was one of my thoughts as a possibility. Do drive by valuations happen often? The property is only 7 or 8 years old would that be a contributing factor?

Okydoky25

When was the offer actually accepted?

stalkah

27th January...

stalkah

The "thing" was actually the TR1 form for the land registry transfer. Now signed and sent back to solicitors.

stalkah

After telling the buyer on Friday if we don't have confirmation of a valuation soon the house will be put back on the market. Phone call this afternoon from EA that the valuation is booked in for Wednesday AM. Fingers crossed this is moving again