Valuation... What next??

sparklecity

I have my valuation booked for next week. If that goes fine, what are the next steps?? Solicitors have already completed searches. Also any idea on timescales from valuation to completion?

Thanks

sparklecity

Anyone? ��

Clarabella123

Totally depends on how long the enquires take to come back and what the position is with the vendor etc etc. Could be 2 weeks could be 2 months.
Your solicitors will be best placed to advise I would think.
Good luck, hope all goes well for you

MortgageMamma

Well the surveyor will either

agree with the valuation/sale prices

or

down value it.

If all is ok the valuation gets sent to an underwriter who if happy with it, and every other aspect of your application will make a mortgage offer to you. At that point the solicitors really get to work and agree a date for exchange of contracts (the point at which you are contractually obliged to buy and the seller is contractually obliged to sell). Then completion.

sparklecity

Thanks for replies guys. Valuation was today so I'm hoping to hear something back from it before bank holidays!

Thrugelmir

Don't forget the other parties in the chain. What's the position of your vendors?

MEEEE

Had mine done today too so anxiously waiting..nationwide.

Solicitors not done anything yet though the broker assigned them the case on 12.3.16.

How long does the searches take anyone ??

WorriedFTB_2

Searches may take 7-10 working days. Ours were sent over a week ago , not back yet ...

sparklecity

Homebuyers report received in post today and seems fine.. Hope this means I'll get full mortgage offer next week?

I think my vendors are all ready to go, as their solicitor has been calling mine for an update on my mortgage application!

My searches are already back! My solicitors said they would get me in soon to sign all documents so I'm really hoping it's not long now. I have to give 4 weeks notice in the house I'm renting now so hoping to hear something so I can give this asap!

Debtslayer

sparklecity wrote: »

Homebuyers report received in post today and seems fine.. Hope this means I'll get full mortgage offer next week?

I think my vendors are all ready to go, as their solicitor has been calling mine for an update on my mortgage application!

My searches are already back! My solicitors said they would get me in soon to sign all documents so I'm really hoping it's not long now. I have to give 4 weeks notice in the house I'm renting now so hoping to hear something so I can give this asap!

Mortgage offer should definitely be soon as they will have received the valuation

Ref notice period on rental property, you shouldn't really give this until you've exchanged as nothings certain until exchange has taken place

Vendors solicitors will have been chasing ref mortgage as they want to make sure you definitely have the mortgage and can go ahead with the purchase