EA have said it's going a bit slow? Is it?

mazy_m

I'm sure this has been asked about a thousand times!! lol!!


We received an AIP from HSBC around June time and due to the prices in London we decided to wait a bit longer. We then decided to move further North to get more bite for our buck so to speak.


Thus far our timeframe is as follows


Viewed property 15th
Made offer on property 17th and accepted a few hours later


On that day that we submitted the offer we got together all of our paperwork needed for the EA, AIP proof, deposit proof and name of our conveyancer and sent it over to the EA who confirmed the house was no under offer with no further viewings.


We rang HSBC the same day and the earliest appointment they could give us was for the 27th a whole ten days later.


I then contacted a broker who said we should be able to get it sorted before that date so we then sent over all the stuff needed to get a DIP from Abbey- Via Santander.


21st received a DIP from Abbey-Via Santander


So we are now on the 26th 9 days after the offer and I received an email from the EA saying the vendor has asked about where we were with the survey? For this I'm think it means the valuation from Santander as I am getting my own House Survey done as I don't wish to use the company Santander use for the full one.


I rang the EA and explained where we were at and that as far as I was aware the Broker had said we should have a decision in about a week. That I had rang Santander and they informed me that the valuation can sometimes take place in as little as two days from when the mortgage has been agreed (subject to survey).
I asked them if they thought the process was moving at a usual speed and they told me that actually it was dragging a bit.


In your experience would you say that it's usual or unusual to have had a valuation booked in 9 days after the original offer? Would anyone also agree with the EA in thinking it is dragging a bit? Especially taking into consideration it's the summer holidays still.


I'd just like a general idea of what people think. It doesn't offend me if you agree or disagree but should I be worried at all at this point? Also again I know this can't be answered by anyone but the vendors but do you think they asked to get it moving quicker in case I was dragging my heels. Or they wanted to book a holiday. I just wanted some reasons I perhaps hadn't thought of as to why the vendors would worry the valuation hasn't been done or booked yet (9 days in).


Thanks so much Maz : )

dgtazzman

Seems to be moving along nicely to me. The EA is exaggerating. 4 weeks from offer to being in a position to exchange is considered fast (what many new builds request and quite frequently fail to realise), if you are in a chain it will take longer. 10 days is nothing, especially if the lender and/or the surveyor are busy.

I'm at 6 weeks and counting on a new build purchase, all because of issues with the lender and their surveyor. Luckily my builder isn't in a hurry...

Thrugelmir

EA is getting their ears bent by an impatient vendor. You are just receiving the back lash.

mazy_m

Thanks for the reply. You've made me feel better. I did think it wasn't dragging too much. Especially considering if we'd have waited for the appointment with HSBC we wouldn't even really be as far we are now!




I see what you mean about New builds meant to be being easier when there's meant to be less complications! Hopefully yours gets moving soon for you.


Luckily we're not in a chain. They wish to move into a new build they've found and they upsizing so need to do it soon.


We're not in a rush in terms of having to move out of our place as we've decided to keep it on until January whether completion takes place in October or after. Ideally October half term would be amazing... If only the world worked that way! lol! But I do want the completion done as quickly as possible as I don't like all the uncertainty!!


Thanks again I really do feel better now and less worried!


Thanks also Thrugelmir I think you're right with that especially if they want to get out. They had it on the market for a while so it must be frustrating for them but I feel the same as then and would happily exchange tomorrow if that was the case!

Thrugelmir

You never know peoples previous experiences. How many times they've been messed around.

amnblog

Your contact is well qualified to be an Estate Agent - sounds like an idiot.

Santander will not instruct valuation before they are happy with the rest of the case. If you have concerns with timescales speak to your broker.

Thrugelmir

amnblog wrote: »

Your contact is well qualified to be an Estate Agent - sounds like an idiot.

Not wise to throw stones when you live in a glass house.

mazy_m

Just an update the Survey was done yesterday.




I read through some of my old emails to the EA and from prior to my offer they had told me that the previous people that offered had not got to Survey stage and hadn't given them the AIP or solicitor information so I think they were worried that we might be doing the same to them. Although on the day of the offer I then emailed them the AIP and details of our Solicitors as they requested it.


Thanks again for all your thoughts!

amnblog

Thrugelmir wrote: »

Not wise to throw stones when you live in a glass house.

13 days after I said the EA was wrong to expect a valuation so soon.

mazy_m

Actually in the end we've got another Mortgage as Santander were being really pedantic about things. We've ended up going with Halifax and I have to give them their dues got a DIP effectively last Friday with them. Then when I eventually got my August payslip and emailed it over Monday night we had a Mortgage Agreement subject to Valuation ( via our broker) on Tuesday and then the Survey was due to take place Monday coming up. I was thrilled with that then had a call to say it was actually happening yesterday. Amazing timeframe from them.

born2shine

It's going at reasonable speed in general terms. The whole mortgage process is unnecessarily slow anyway but you've got your mortgage agreed in principle so that's the main thing.

Good thing you went to a broker, they are really good. HSBC just lost business there.