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Cash buyer claims not getting survey done!
SevenOfNine
Posts: 2,382 Forumite
Selling our deceased son's home, took a few tips from here.
1) Knocked our preferred agents fee down from 1.2% to 1% to match others in the area. Locked in to 4 weeks (should have for less but didn't read that tip 'til too late).
2) Agent has a 'cash' buyer, told them to check they ARE genuine cash buyers & actually have the money (not just claiming that to encourage acceptance of their offer above waiting for a better one). Agent claims they've seen bank statements & more than enough cash to buy the house.......good.
3) Told agent that survey must be done promptly (hinted at 1-2 weeks max) to show good faith & that their offer was serious, if not we wanted the house to stay on the market. Not for an improved offer elsewhere but so it isn't languishing on the sales back burner only to have the 'cash' buyer find something else, make an even lower offer or drop out altogether.
Cash buyer has said they aren't going to have a survey done at all, asked for a copy of the one our son got when he purchased (the homebuyers report) in Dec 2012.
..........who does that!!!! Crikey, doesn't everyone get a survey or homebuyers report of some description. Am I right to be a little suspicious? We're not desperate to make the sale so if they start to muck about we'll just dump them & start over.
Am I just being paranoid?
Be kind though, we've ended up with son's home in tragic circumstances. Have only owned 3 houses ourselves & haven't bought/sold for over 20 years so not very experienced.
1) Knocked our preferred agents fee down from 1.2% to 1% to match others in the area. Locked in to 4 weeks (should have for less but didn't read that tip 'til too late).
2) Agent has a 'cash' buyer, told them to check they ARE genuine cash buyers & actually have the money (not just claiming that to encourage acceptance of their offer above waiting for a better one). Agent claims they've seen bank statements & more than enough cash to buy the house.......good.
3) Told agent that survey must be done promptly (hinted at 1-2 weeks max) to show good faith & that their offer was serious, if not we wanted the house to stay on the market. Not for an improved offer elsewhere but so it isn't languishing on the sales back burner only to have the 'cash' buyer find something else, make an even lower offer or drop out altogether.
Cash buyer has said they aren't going to have a survey done at all, asked for a copy of the one our son got when he purchased (the homebuyers report) in Dec 2012.
..........who does that!!!! Crikey, doesn't everyone get a survey or homebuyers report of some description. Am I right to be a little suspicious? We're not desperate to make the sale so if they start to muck about we'll just dump them & start over.
Am I just being paranoid?
Be kind though, we've ended up with son's home in tragic circumstances. Have only owned 3 houses ourselves & haven't bought/sold for over 20 years so not very experienced. Seen it all, done it all, can't remember most of it.
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Comments
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We sold our last house to cash buyers who didn't have a survey done at all either, the whole process went pretty smoothly actuallyAug GC £63.23/£200, Total Savings £00
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Very sorry about your son.
No survey is completely at your buyers risk, i really wouldn't worry.0 -
No not everyone gets a survey done.
And a cash buyer does not need a mortgage valuation survey done.
Perfectly normal. His choice.
Asking for the 2012 survey is a bit cheeky, but does no harm if you have it. He cannot rely on it of course, in the sense that he cannot complain to you, or to the surveyor who did it, if it is wrong/misleading in any way, but it may provide some interesting information for him.
since it does you no harm to supply it, why not? It oils the wheels of the sale.
and if he's asked for it that suggests he's a serious buyer too.0 -
Mine is a cash buyer and no survey or searches done. Supposed to exchange Monday so fingers crossed it will happen.0
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Nope, not everybody.SevenOfNine wrote: »Crikey, doesn't everyone get a survey or homebuyers report of some description.
I haven't bothered on the last three places I've bought, only got a pro in for a second-opinion (I was right) on a place my mother was buying recently, and won't be doing on the place she's now buying.
We did get a survey on the place we bought many years ago - and in the 15yrs we were there, none of the things that were flagged up were a problem, while he missed many of the things that were.
I know my way around houses well enough not to need to pay several hundred quid to be given a report full of backside-covering boilerplate platitudes.0 -
Just sold a property to a cash buyer (completed on easter thursday) he didn't have a survey done either. Quite surprised as buyer was a retired chap so not exactly green about the gills.Spelling courtesy of the whims of auto correct...
Pet Peeves.... queues, vain people and hypocrites ..not necessarily in that order.0 -
All the more reason for him not to bother with a survey.fed_up_and_stressed wrote: »Just sold a property to a cash buyer (completed on easter thursday) he didn't have a survey done either. Quite surprised as buyer was a retired chap so not exactly green about the gills.0 -
Yes likewise when my mum downsized and bought her last place outright we didn't have a survey done.
Like AdrianC I don't normally get surveys done, only the minimum necessary for a mortgage valuation.0 -
So sorry for your loss and tragedy.I know my way around houses well enough not to need to pay several hundred quid to be given a report full of backside-covering boilerplate platitudes.
This.
Whether you let them see your son's survey I guess depends on whether it is a positive one?0 -
Nope. I'm not!0
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