We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
Do we have to wait for vendors contract before commencing searches?
King_Slayer
Posts: 262 Forumite
Hi All,
We are chain free FTB, we have had our mortgage offered in just under two weeks. We were awaiting the results from the survey/valuation on Monday before instructing Solicitor to proceed with the searches. We got notification yesterday that mortgage has been offered and valuation approved, just waiting to have a thorough read of the Home Buyers report. With this we decided to proceed with the searches. The EA has confirmed last week that vendor's offer on their purchase, has been accepted and no chain on the proerty they are purchasing.
The Solicitor has already received the memorandum of sale from EA, I rang yesterday to instruct to now proceed with searches to be informed that they have requested the contract from vendors solicitors but they have not arrived as yet, so they are unable to carry out the searches.
From reading other posts I can see other buyers have proceeded with the searches before obtaining a mortgage offer ( I didnt want to proceed until I was sure mortgage was offered and valuation ok) to reduce loss if any. So I was naturally under the impression that it is totally up to the buyer, if they are willing to commence with the searches. Am I correct in this belief?
I am also crossing my fingers that they receive the contract soon as we have registered our lil one to change school to the purchase area, however the admissions team require the contract to prioritise this move, or we basically have to sit on the waiting list. Could the delay be due to the fact that the vendor has only had their offer accepted last week?
Any advice will be greatly appreciated. Thanks in advance :T
We are chain free FTB, we have had our mortgage offered in just under two weeks. We were awaiting the results from the survey/valuation on Monday before instructing Solicitor to proceed with the searches. We got notification yesterday that mortgage has been offered and valuation approved, just waiting to have a thorough read of the Home Buyers report. With this we decided to proceed with the searches. The EA has confirmed last week that vendor's offer on their purchase, has been accepted and no chain on the proerty they are purchasing.
The Solicitor has already received the memorandum of sale from EA, I rang yesterday to instruct to now proceed with searches to be informed that they have requested the contract from vendors solicitors but they have not arrived as yet, so they are unable to carry out the searches.
From reading other posts I can see other buyers have proceeded with the searches before obtaining a mortgage offer ( I didnt want to proceed until I was sure mortgage was offered and valuation ok) to reduce loss if any. So I was naturally under the impression that it is totally up to the buyer, if they are willing to commence with the searches. Am I correct in this belief?
I am also crossing my fingers that they receive the contract soon as we have registered our lil one to change school to the purchase area, however the admissions team require the contract to prioritise this move, or we basically have to sit on the waiting list. Could the delay be due to the fact that the vendor has only had their offer accepted last week?
Any advice will be greatly appreciated. Thanks in advance :T
0
Comments
-
All that is needed to apply for searches is a copy of the title plan, which is normally sent out with the contract package, but it is possible to download a copy from the Land Registry website for £3.0
-
Will give it another day, if I dont hear anything back from Solicitor I will suggest this.0
-
Why is it taking so long for the vendor's solicitor to get a draft contract out?
If this is chain-free, is it a matrimonial or other potential problem sale?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 349.9K Banking & Borrowing
- 252.6K Reduce Debt & Boost Income
- 453K Spending & Discounts
- 242.8K Work, Benefits & Business
- 619.6K Mortgages, Homes & Bills
- 176.4K Life & Family
- 255.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards