HomeBuyers Report AT THIS STAGE REALLY???

septemberbaby

We are expecting our Local Search back tomorrow according to our solicitor.

Our Buyer and vendor are in and around the same timescales.

However our buyer has now instructed a full "Homebuyers Report" at this stage..

We are a little nervous about our buyer as they were more or less a cash buyer.

Why at this stage after a full survey and a number of weeks in to the searches proccess would he want this doing???

Is he likely to want to renegotiate the price?
Find a problem?

Or pull out even?

We are really feeling sad about this..

Anyone had similar and what is outcome normally

-taff

Are you saying they have already paid for their own full survey and are now getting another one done?

septemberbaby

-taff wrote: »

Are you saying they have already paid for their own full survey and are now getting another one done?

Yes exactly that.

The only thing i can think of is that we know they want to extend the house and have had an architect over in recent weeks so perhaps they need to check the structural abilities?

Either way it makes me nervous that
they will pull out
or that this will delay us another few weeks

Any thoughts??

s_glover

I'm not sure what you mean by full survey but surely a homebuyers survey isn't going to tell them anything the full survey hasn't already?

septemberbaby

s_glover wrote: »

I'm not sure what you mean by full survey but surely a homebuyers survey isn't going to tell them anything the full survey hasn't already?

They have had their Survey completed by their mortgage providers supplying a standard survey,

They now want another from Fletcher Broadbent (Who are mostly known for reports around people who intend to extend the properties apparantely)

Just seems like a bargaining tool to get the price down but i am just nervous generally and figure this as a delay

Exodi

septemberbaby wrote: »

They have had their Survey completed by their mortgage providers supplying a standard survey,

They now want another from Fletcher Broadbent (Who are mostly known for reports around people who intend to extend the properties apparantely)

Just seems like a bargaining tool to get the price down but i am just nervous generally and figure this as a delay

I really wouldn't worry so much. Yes it's a bit later than people would usually carry it out but it's generally advised that prospective buyers should carry out their own independent survey.

septemberbaby

Exodi wrote: »

I really wouldn't worry so much. Yes it's a bit later than people would usually carry it out but it's generally advised that prospective buyers should carry out their own independent survey.

Cheers thanks for the reply.

Ya i think its more nervy feelings than anything solid.

I suppose the searches are still underway in the background so perhaps it wont delay things!

Surrey_EA

septemberbaby wrote: »

They have had their Survey completed by their mortgage providers supplying a standard survey,

They now want another from Fletcher Broadbent (Who are mostly known for reports around people who intend to extend the properties apparantely)

Just seems like a bargaining tool to get the price down but i am just nervous generally and figure this as a delay

What the mortgage company do is not a survey, it's a valuation. The purpose of which is to assess whether the property represents suitable security for the mortgage your buyers are looking for.

s_glover

As Surrey_EA states the mortgage valuation is by no means a full survey. It's just enough for them to satisfy themselves the house is worth what the intended sale price is.
Most people will opt for their own independent survey, probably a little earlier than your buyers have but depending on the availability of the surveyor and how soon you can give them access to the property this hopefully shouldn't hold things up too much.

septemberbaby

s_glover wrote: »

As Surrey_EA states the mortgage valuation is by no means a full survey. It's just enough for them to satisfy themselves the house is worth what the intended sale price is.
Most people will opt for their own independent survey, probably a little earlier than your buyers have but depending on the availability of the surveyor and how soon you can give them access to the property this hopefully shouldn't hold things up too much.

Hopefully is right....

It is booked in for this Friday so will have to just be patient and wait and see what happens.

Someone as nervy as me about the whole proccess cant deal well with! haha

letitbe90

septemberbaby wrote: »

Hopefully is right....

It is booked in for this Friday so will have to just be patient and wait and see what happens.

Someone as nervy as me about the whole proccess cant deal well with! haha

Well your buyer seems invested in the property if he is bringing around architects etc. If he tries to reduce his offer and you're not happy, just refuse. It is a game of who will blink first, but judging from your posts it seems like your buyer does want to buy your house.


Also a survey always brings things up, that is just normal. It isn't a mandate to say that anyone is entitled to a discount.