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At what stage should a survey be done
gardian8
Posts: 82 Forumite
Hi All
we are going for a 2nd viewing of a house we like tonight, we have already lined up a solicitor and have a DIP in place, but as its a lot of money (for us anyway) I wanted to get a survey on the house.
What I want to know is when should this be done? Is it after the offer is accepted and a sale is agreed, or is it after the mortgage has been applied for?
I would have thought if the survey reveals some issues and we wont want to purchase it we have just wasted out time in getting a mortgage application sorted?
Also if anyone has any recommendations to a surveyor who covers the north east please?
Cheers
we are going for a 2nd viewing of a house we like tonight, we have already lined up a solicitor and have a DIP in place, but as its a lot of money (for us anyway) I wanted to get a survey on the house.
What I want to know is when should this be done? Is it after the offer is accepted and a sale is agreed, or is it after the mortgage has been applied for?
I would have thought if the survey reveals some issues and we wont want to purchase it we have just wasted out time in getting a mortgage application sorted?
Also if anyone has any recommendations to a surveyor who covers the north east please?
Cheers
0
Comments
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Hi All
we are going for a 2nd viewing of a house we like tonight, we have already lined up a solicitor and have a DIP in place, but as its a lot of money (for us anyway) I wanted to get a survey on the house.
What I want to know is when should this be done? Is it after the offer is accepted and a sale is agreed, or is it after the mortgage has been applied for?
I would have thought if the survey reveals some issues and we wont want to purchase it we have just wasted out time in getting a mortgage application sorted?
Also if anyone has any recommendations to a surveyor who covers the north east please?
Cheers
I would do the survey before instructing any other work.
So offer, survey, everything else.
As for recommendations just find a RICS registered surveyor.0 -
The mortgage provider probably won't lend against the property until they've carried out a valuation. Often this valuation can be doubled up as a survey/ home buyer's report.
I'm not sure how the housing market is moving where you are but around me (Midlands) it's moving quickly so I would suggest the following steps:
DIP
View house
Offer on house
Formal mortage application (Instruct solicitor but don't pay for search fees yet)
Value/ survey carried out
Mortgage offer received
Pay search fees to solicitor
Wait for conveyance to take place.
Read the sticky posts on this forum, it's an absolute gold mine of information that has helped me go through this process.0 -
It's all about what you think the biggest issues are likely to be.
Time's tight? Do everything in parallel.
You're worried about the condition of the property? Survey first.
You're worried you might not get the mortgage? Apply first.0 -
Thanks all for the replies, house is on the market and has been for quite some time so i think we will be best to get the survey done first to make sure we are happy with it, its only 20 years or so old so i think it should be ok. Going to offer tomorrow if we still like it and are not put off by the road its beside, fingers crossed.0
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... and don't spend anything until the vendor has an onward purchase agreed and there is a fully-formed chain.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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They are moving away from the area so moving in with relatives while they house hunt in their new location, so there is no chain above also complete at the bottom too. should move relatively quickly.kingstreet wrote: »... and don't spend anything until the vendor has an onward purchase agreed and there is a fully-formed chain.0 -
"Oh, we've found a house we like, so there's a chain now. BTW, they're just waiting for their upward chain to complete..."They are moving away from the area so moving in with relatives while they house hunt in their new location, so there is no chain above also complete at the bottom too. should move relatively quickly.0
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