5.5 weeks and no house valuation!

craaazyuk

We are in the process of moving house if all goes well with the mortgage application, however I am getting increasing worried about our buyer. It is 5.5 weeks since we accepted his offer and there has still been no house valuation done, I am on the phone to the estate agents on a daily basis and every day it changes when they expect to get a date for this. Apparently the hold up is due to the fact he has submitted his mortgage application on paper and not online, does this sound right? He is using the mortgage advisor in the estate agents branch so surely they should be updated on his mortgage application at all stages?


We are jumping through so many hoops with Leeds Building Society but even they managed to get a house valuation done 1 week after we submitted the full application.


I guess what I am asking is am I right to be worried about our buyer and do you have any advise on how to progress things quicker?


Many Thanks

amnblog

A difficult query to answer, but in general you would not expect to wait over 5 weeks for a valuation.


it may be that the vendor has only recently gotten their act together to put the broker in a position to submit the case

craaazyuk

amnblog wrote: »

A difficult query to answer, but in general you would not expect to wait over 5 weeks for a valuation.


it may be that the vendor has only recently gotten their act together to put the broker in a position to submit the case

Thanks for the response, I think I'll phone the agents and ask for a more detailed explanation for the delay.

amnblog

Just suggest to them that it does not 'smell right' and you want them to get to the bottom of the problem.

csgohan4

Doesn't bode well if he is using the EA mortgage people The application is probably sitting on a desk somewhere or in the shredder.


I would put pressure on the buyer and ask for a direct answer rather than wooley answers. If you don't like their answer, put it back on the market.

Thrugelmir

What the circumstances of the buyers? Perhaps they are intentionally dragging matters out. Could be tied into a tenancy agreement for example or need to raise more money.

TBeckett100

We are in the same boat though we know the valuation is booked in but it has taken five weeks as well.

I would check via your agent whether their solicitor has begun the searches. If this hasn't been done, it means no commitment has been made and therefore I would give them a week to either have a survey booked or else it reverts back to the market.

ACG

It might be time for "put it back on the market"

GoldenShadow

I've made a point of keeping in touch with our vendors because I don't want communication to dissipate, that seems to be when everyone starts to panic. Do you have direct contact for the buyer at all?

We put an offer in on 16th June which was accepted the same day. Our broker put our application in on 26th June and lender has a valuation booked for 9th July. So less than three weeks of valuation to be booked but I think we were quite quick compared to friends and colleagues we know. Our conveyancer did start getting info w/c 22nd June though.

craaazyuk

Thanks for the help everyone.

Our buyer has paid for all the searches some time ago and everything with the solicitor seems to be going really well it's just the mortgage bit that seems to be at a standstill. I've emailed the manager of the estate agency tonight and stressed that I want a specific answer not just an airy fairy response which we are currently getting.

I don't have direct contact with the buyer, I always assumed it was dealt with through estate agents and solicitors but if I still have no joy within a couple of days I will attempt to make contact. Can I ask my estate agent for his phone number?

Thanks Amy