A housebuying survey question?

Dunree

Hi Guys,


We've had an offer accepted on a place we're looking to buy, and had the survey completed last week, so we're just waiting for the report now.


We accepted an offer on our place seven weeks ago, and have chased the estate agent on quite a few occasions about getting the prospective buyers survey carried out here.


The agent says that the survey has been paid for, and that the lender has a back log.


I emailed the agent again today to chase them up, and as it stands just now, have received no response.


I have checked their website site, and our place is still showing for sale :eek:


The agent is one of South London's biggest, so it isn't a mickey mouse fly by night mob. (I won't name them on here)


So, where do we stand?


Is seven weeks a normal time to wait? Does it sound like the agent is at it?


I don't know. Any advice as to where we stand would be gratefully appreciated


Dunree

Yorkie1

The agent isn't responsible for arranging the buyer's survey on your place. It's the buyer's lender - who instructs independent firm to conduct the survey - so I doubt your agent is pulling a fast one in this regard. They will have to contact the buyer, who will need to contact their lender, and there's a possibility that the lender is either unavailable at the weekend or can't give a precise date for the survey.

In places of high demand, such as many places in London, some lenders just do not have enough surveyors to turn round surveys quickly. Also, some lenders do the survey at the end of the underwriting process rather than at the start.

If you're concerned about the 'For sale' still being on the website, ask them why. You can tell them to change the label if you want. Some sellers leave the 'for sale' information up until a survey has been conducted, so they know the buyer is serious about the transaction.

Dunree

Yorkie1 wrote: »

The agent isn't responsible for arranging the buyer's survey on your place. It's the buyer's lender - who instructs independent firm to conduct the survey - so I doubt your agent is pulling a fast one in this regard. They will have to contact the buyer, who will need to contact their lender, and there's a possibility that the lender is either unavailable at the weekend or can't give a precise date for the survey.

In places of high demand, such as many places in London, some lenders just do not have enough surveyors to turn round surveys quickly. Also, some lenders do the survey at the end of the underwriting process rather than at the start.

If you're concerned about the 'For sale' still being on the website, ask them why. You can tell them to change the label if you want. Some sellers leave the 'for sale' information up until a survey has been conducted, so they know the buyer is serious about the transaction.

Thanks for the response Yorkie


Maybe I was being a bit harsh on the estate agent...


Apparently the mortgage is already in place for the buyer, EA told us this. But seven weeks for a survey to be carried out, is this excessive?

CostCutter

Hi Dunree

Ours took around 6 weeks but we knew from about 2 weeks after we accepted the offer that the buyers survey was going to be about another 4 weeks as we had to confirm the appointment time with the surveyors so that they could have access to the property. I don't know how they all work but surely you should have an appointment date that they are coming to do the survey if it is booked?


At the time I was confirming the appointment with our buyers surveyor I did say that I was expecting it to be quicker than another 4 weeks but they said they were stacked out and that was the next available appointment. It took about 4 days for the report to come through afterwards I think.


What I'm trying to say is really that 7 weeks may not be too excessive but if the appointment isn't actually booked it could take a few more weeks on top of that if you see what I mean?


CC

Dunree

CostCutter wrote: »

Hi Dunree

Ours took around 6 weeks but we knew from about 2 weeks after we accepted the offer that the buyers survey was going to be about another 4 weeks as we had to confirm the appointment time with the surveyors so that they could have access to the property. I don't know how they all work but surely you should have an appointment date that they are coming to do the survey if it is booked?


At the time I was confirming the appointment with our buyers surveyor I did say that I was expecting it to be quicker than another 4 weeks but they said they were stacked out and that was the next available appointment. It took about 4 days for the report to come through afterwards I think.


What I'm trying to say is really that 7 weeks may not be too excessive but if the appointment isn't actually booked it could take a few more weeks on top of that if you see what I mean?


CC

That's the thing, they haven't even been in contact to book an appointment...


We are hoping to be out of here by the end of July, and we really don't want to lose out on this other place because someone else hasn't done what they are supposed to do...

Yorkie1

7 weeks does sound quite a lot, but that assumes that the lender instructed the surveyor at the start of that period. If the lender does all the underwriting before instructing a surveyor, and the buyer's underwriting isn't straightforward for any reason related either to the buyer or to the lender, then the surveyor's instructions may have only been given more recently.

It is reasonable to ask your agent to chase the buyer for a timescale from the lender for the survey to take place.

Dunree

Hi Guys,

Well the email seems to have worked.

The estate agent has got on to the buyer, who in turn provided the paperwork showing that they have paid for the survey, and also started their legal process.

It turns out that it's Santander who are holding everything up. Hopefully they'll get the finger out soon and we can move

Thank's for the advice guys, much appreciated

Dunree