Survey and solictor before offer accepted?

ReenaMistry

We're put an offer in on a house this morning, but the estate agent won't just take our mortage in principle as the confirmation of the offer. They also want a survey booked and details of the solicitor, which we are yet to do. They are saying if we don't provide them with the details by end of today, the offer won't be accepted. I don't know if this is normal? Help!

libf

ReenaMistry wrote: »

We're put an offer in on a house this morning, but the estate agent won't just take our mortage in principle as the confirmation of the offer. They also want a survey booked and details of the solicitor, which we are yet to do. They are saying if we don't provide them with the details by end of today, the offer won't be accepted. I don't know if this is normal? Help!

Absolutely no point in booking a survey if the offer isn't accepted!

Conrad

I offered on a buy to let flat last week, same situation for me, and I'm in the finance business!
I opted to use the Agents Solicitor, a marginal difference in Solicitor fees is neither here nor there in this heady market. It keeps the agent on side and you can leave them to do all the chasing when things go slow.


I paid for my val fee despite not knowing if they were running with other buyers. The survey is tomorrow. I'm just running with it. A risk yes, but I will deffo loose the property unless a val was booked.

A mortgage agreement in principle is only a guide, a mortgage offer follows full Human underwriting. Maybe use the agents broker, keep them sweet on that front as well.


This is a sellers market, you have to play the game. There's 10 buyers for every place.


Having said all this I did go into the EA personally a couple of days after val fee paid and sort of slightly threateningly said I do not want to me messed about or loose the fee.

LateStarter

Keep it as 2 separate things:

1. You should have a solicitor/conveyancer ready by now - you are serious about buying, aren't you? Pass those details on

2. Do not book any survey until an offer is acepted - do not spend any money. Suggest you will do the survey when the property is taken off the market and viewings stop (they may not agree, but at least you tried.)

Many sellers (especially those who've been burnt) want to see commitment from the buyer - your spending money shows that to them.

Good Luck

pinkteapot

Solicitor details - fair enough.

Survey - what? No! If you're getting a mortgage, the mortgage company will book the survey, not you. And not until you've done your full application, which may cost you money, if the product you're going for has an application fee. You can of course opt to book your own survey too, but I'd never book a survey before my offer had been accepted.

Conrad

pinkteapot wrote: »

Solicitor details - fair enough.

Survey - what? No! If you're getting a mortgage, the mortgage company will book the survey, not you. And not until you've done your full application, which may cost you money, if the product you're going for has an application fee. You can of course opt to book your own survey too, but I'd never book a survey before my offer had been accepted.

Well that's the situation I found myself in and it was a case of getting application done and val fee paid for on the very day I found the place.


They were cagy and non committal about it coming off market so it was either a case of my just going with the flow or definitely being ousted. I took a chance.


One thing is certain, any serious and worthwhile buyer acts instantly, no messing about shopping around for Sols in this market (prices went up 3% last month).

pinkteapot

But had your offer been accepted, at least verbally?

We've always got the mortgage application done within 24 hours of our offer being accepted. We've also had our solicitor details ready when offering.

My issue in this case is with someone being asked to get their survey booked before their offer has been accepted.

G_M

Are they saying the seller won't accept your offer without these two pre-conditions, or the seller won't take the property off the market?

There's a subtle difference.

Voyager2002

Conrad wrote: »

I offered on a buy to let flat last week, same situation for me, and I'm in the finance business!
I opted to use the Agents Solicitor, a marginal difference in Solicitor fees is neither here nor there in this heady market. It keeps the agent on side and you can leave them to do all the chasing when things go slow.


I paid for my val fee despite not knowing if they were running with other buyers. The survey is tomorrow. I'm just running with it. A risk yes, but I will deffo loose the property unless a val was booked.

A mortgage agreement in principle is only a guide, a mortgage offer follows full Human underwriting. Maybe use the agents broker, keep them sweet on that front as well.


This is a sellers market, you have to play the game. There's 10 buyers for every place.


Having said all this I did go into the EA personally a couple of days after val fee paid and sort of slightly threateningly said I do not want to me messed about or loose the fee.

Remember that the Estate Agent is not the person selling the property...

No matter what they say, they are obliged to tell the vendor about your offer. It is then up to the vendor to accept or not, and paying extra to please the agent (using their solicitor and so forth) will make very little difference.