Buyer getting survey done even though I haven't found a house

scope

Our buyer did the survey and searches prior to us finding our house, and I have to say, it did speed the process up a great deal as it was all down to us (and I kept chasing my side of things), and we were done in 6 weeks.

You will be in a great position when you finally find your house; you've sold and mortgage/searches/etc have already taken place on your place, something most people will look upon as a good thing - they might even choose you in front of another couple that hasnt started their process yet - something to keep in mind.

Take your time in finding your house, just keep the buyers informed.. We didnt rush things and within 2 weeks the perfect house came on the market and because we had already sold we got it.

macaque_2

Jet wrote: »

Since when does not having a house to move to within 10 days make me untrustworthy?

You have accepted an offer and therefore have a moral obligation to go ahead with the transaction. There is absolutely nothing to stop you from from processing the sale. You can always defer completion if accomodation is an issue. What you have chosen to do instead is keep the buyer on tender hooks whilst you look around. Doubtess you still advertising the house.

If you were buying and needed the money from your old house to complete the purchase, your position would be understandable. But its not. You are just playing games with a hapless buyer.

Jet

macaque wrote: »

If you were buying and needed the money from your old house to complete the purchase, your position would be understandable. But its not. You are just playing games with a hapless buyer.

Yes, I do need the money from the sale of my current house to buy another one.

Likewise, the house I find, the owners will probably need my money before they can buy a new house. Isn't that called being in a chain?

If I had nearly 190k in the bank to buy a house outright, I would have done that first and then sold my current property.

macaque_2

Jet wrote: »

Yes, I do need the money from the sale of my current house to buy another one.

Likewise, the house I find, the owners will probably need my money before they can buy a new house. Isn't that called being in a chain?

If I had nearly 190k in the bank to buy a house outright, I would have done that first and then sold my current property.

What are you talking about? The chain does not apply to you. If you sell the house, you will have £190K in the bank?

System

The buyer may not have had a say in the survey. In my case, as soon as the mortgage was approved and the offer accepted, the mortgage provider arranged for the valuation survey

Jet

macaque wrote: »

What are you talking about? The chain does not apply to you. If you sell the house, you will have £190K in the bank?

No I will not have 190k in the bank, due to mortgage and current house value. :rolleyes:

Yes, technically I can live in a cardboard box, squat or rent until I find a suitable property to buy. The cost of renting may well take me off the property ladder totally though if I have to rent for a while. And having already checked rightmove - it looks like there is currently nothing to rent except 4 beds and studio's in that area. So there is also the cost and upheaval of 2 moves, possible storage or very high rent. I have a child to think of and his schooling and the upheaval on him.

Again, my buyer knows all this.

I really don't think that I am wrong to want to sell and buy at the same time - after all isn't this what the majority of people in my position would do?

Yes, I may well lose my buyer and I wouldn't be happy, but if that's meant to be.

Richard_Webster

As long as the buyer understood that you hadn't found a place to buy and you wouldn't move unless you did then I can't see he can complain.

If the buyer chooses to buy a house with a potential chain above then that is his choice.

telfordwhite

Jet, if you are committed to the sale why should it matter when your purchaser gets the survey done?

Reading between the lines it sounds as though you are saying "don't waste money on getting a survey done because I may change my mind"

silvercar

Far better to be honest with your buyer than let him think you will move out and then change your mind later.

For what it's worth I think you are being honest and should be commended.

Jet

telfordwhite wrote: »

Jet, if you are committed to the sale why should it matter when your purchaser gets the survey done?

Reading between the lines it sounds as though you are saying "don't waste money on getting a survey done because I may change my mind"

I have absolutely no plans to change my mind, but I don't want him to spend money out only to expect to move in in a certain time scale.

I can keep looking indefinetly and I am not looking for the impossible but there isn't a lot out there and I want him to understand that.