our offer's been accepted, what's next

hounsehunterftb

sulphate wrote: »

No offence but with nothing to sell you're being naive to expect a vendor to be flexible for you. It usually works the other way round, I'm afraid. As a vendors ourselves why should we move our family into rented accommodation (incurring significant extra cost and disruption) just because our first time buyer wants us to get a move on? Especially when I'm confident we could find another buyer who would be more patient.

Sometimes no chain can make the process quicker, not always. Depends on why they are moving - if they are going into rented/separating/moving areas they may not be in much rush to sell so might drag their feet through it.

You can try and speed the process up but it will still take as long as it takes.

True though it's really vendor's discretion as to what he wants to do. In this case OP might be lucky for the vendor is considering to move. However this situation is tricky definitely as all you have to go along is vendor's/EA's word for it.

As for two weeks, don't hope for such a turn around time. Be prepared for longer thus less likely chances of getting disappointed. We ourselves are currently going through the process. FTB and chain free house. Lets see how long does that take!

Good luck OP

jlaw4

There are a few things to consider...

You have a bank holiday coming up on Monday, it causes SOME delays as i learnt with the previous ones last week! It delayed my survey by 2 weeks until i cancelled and found somewhere else.

Your searches may take longer to come back and its a risk having these carried out before the mortgage offer is in place. My solicitor advised they take between 2-3 weeks.

Natwest are generally good at getting valuations done quickly but anything could hold up your application so always work on worst case not best... im three weeks in and my mortgage is only just getting applied for.. useless broker that i didn't foresee & bank holiday delayed everything but i started off thinking it would be really quick and have been miserable because my own ridiculous timescale didn't work. I can only say it takes as long as it takes and not to let it get to you too much

Lauralou79

Natwest are generally good at getting valuations done quickly but anything could hold up your application so always work on worst case not best... im three weeks in and my mortgage is only just getting applied for.. useless broker that i didn't foresee & bank holiday delayed everything but i started off thinking it would be really quick and have been miserable because my own ridiculous timescale didn't work. I can only say it takes as long as it takes and not to let it get to you too much

Natwest instructed our valuation quickly but we've had to wait ten days for it to happen! So that probably varies on where you live!
We are also FTB with no chain ahead and are happy to move quickly but certain things take time so it'll go as quickly as things are done!

Contessa

Have you arranged a survey yet?

london.cidade

Contessa wrote: »

Have you arranged a survey yet?

No I havent. The offer has just been accepted today. Applying for the mortgage tomorrow. I guess our solicitor gives us direction for the survey date.

adandem

london.cidade wrote: »

No I havent. The offer has just been accepted today. Applying for the mortgage tomorrow. I guess our solicitor gives us direction for the survey date.

I think it's your mortgage lender.

Lauralou79

My lender is only doing a valuation. I booked my own survey.

ThemeOne

I would get your mortgage offer sorted out properly - decisions in principle are all very well, but don't always translate into decisions in practice.

Other than that, I wouldn't do anything. In my experience when buying there can often be a longish gap between offer acceptance and anything much happening - your solicitor at this stage will be awaiting a draft contract from the seller's side.

Definitely don't try and contact the seller directly about anything. That's what you're paying the solicitor for.

Surrey_EA

london.cidade wrote: »

No I havent. The offer has just been accepted today. Applying for the mortgage tomorrow. I guess our solicitor gives us direction for the survey date.

No, the survey is separate from the work your solicitor does.

Your mortgage lender will require a valuation, and will normally send a valuation surveyor to the property, although sometimes they will carry out what is known as a desktop valuation where no physical visit to the property is required.

It is then up to you whether you wish to have a more detailed survey, either a homebuyers report or a buildings survey. You can either request and pay extra for the valuation surveyor to also carry out the survey for you, or you can arrange one yourself.

Surrey_EA

jlaw4 wrote: »

There are a few things to consider...

You have a bank holiday coming up on Monday, it causes SOME delays as i learnt with the previous ones last week! It delayed my survey by 2 weeks until i cancelled and found somewhere else.

I'm not sure how two bank holidays over the past couple of weeks can cause a 2 week delay!

jlaw4 wrote: »

Your searches may take longer to come back and its a risk having these carried out before the mortgage offer is in place. My solicitor advised they take between 2-3 weeks.

Depends on the specific local authority. The one nearest me takes 3 working days, I heard of somewhere in Dorset recently that are taking 3 months!