Cash buyer claims not getting survey done!

ElsieMonkey

I wouldn't worry. It's at the buyers discretion whether they want a survey done or not. Him not wanting one isn't an indication that he is/will mess you about. No skin off your nose - if he's happy to part with the cash that's all you need to know. And yes, don't see the harm in sharing your son's homebuyers report with him (if nothing major on it), and shows goodwill on your part to help ease the process.

Very sorry about your loss and I hope the process goes as smoothly as possible for you. All the best x

seven-day-weekend

SevenOfNine wrote: »

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.

We have bought without a survey as cash buyers.

So sorry for your loss, words are not enough.

NicNicP

Our buyers are cash buyers and also didn't bother to get a survey done. I gather there are limited funds so would probably spend the money elsewhere.

HB58

I am so sorry for your loss, this must be so very difficult for you.

I'm glad that the process is going well and hope everything else goes smoothly.

SevenOfNine

Thank you all for info, advice & kind messages.

Completion is on Friday & everything went smoothly despite my worries that it probably wouldn't, & we are thankful for that. 7 weeks from offer to completion, they asked yesterday if that would be OK & we must let go of our son's home now.

AnotherJoe

My best wishes to both of you.

steve2000

I personally wouldn't be too worried about some of the issues you have mentioned.

The buyer may well know what he is doing and have some sort of experience in surveying properties.
He may take the idea of "the property was fine 3 years ago and has been well maintained."

Personally I am not really interested in survey when I am buying because all a surveyor usually does is check for damp and major cracks.

Houses are NOT THAT complicated if you have a lot of experience with them.

Personally I have been informed of people who have placed a 2k bond before going to a solicitor.
Basically the buyers places 2k before you even go and see your solicitor.
This way, no matter what your buyer does, you will still have 1000gbp for your benefit and 1000gbp to pay any solicitors fees you may incur.

This protects you from anyone pulling out on you. and even benefits you.
Many solicitors say many different things regarding this practice but I think it should be more common place.

My thinking is simple.
If someone can afford to buy a house with cash, then they should have no problems putting 2k in cash upfront. (and then this 2k will count towards the final amount.

I think the buyer is satisfied that the house is in good condition. it is his own choice if he does not have a survey done. and his responsibility once the house is legally owned by him.