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Why seller needs valuation report back before exchanging?

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Comments

  • marmage
    marmage Posts: 32 Forumite
    Ninth Anniversary 10 Posts Combo Breaker
    Yes, thanks SmlSave / Cattermole - no chain, I am in rented flat which I already gave official notice to landlord today to move by end of next week! And vendor, no chain I was aware of all along until now.

    Any chance vendor is waiting for a valuation report for the one he's selling me? It's three months since offer accepted. I know - I should have checked this properly with my solicitor. It's only just sunken into me now unfortunately. I shall have more answers tomorrow.

    Thankyou all, you've been amazing.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    marmage wrote: »
    Yes, thanks SmlSave / Cattermole - no chain, I am in rented flat which I already gave official notice to landlord today to move by end of next week!

    Never give notice until you've exchanged. At exchange agree a completion date.

    People have their own agendas when moving. Circumstances rapidly change.
  • marmage
    marmage Posts: 32 Forumite
    Ninth Anniversary 10 Posts Combo Breaker
    Thanks Thrugelmir, yes I jumped the gun. Not smart, but keeping my landlord in the loop was the only way I was going to get away with being allowed a weeks notice between exchange and completion. Had no idea that this was coming. Guess I have to sort out my homelessness now.
  • m0bov
    m0bov Posts: 2,749 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Your transaction but yet take weeks or months so i would speak to ll asap.
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