Valuation time scale .

phill2-0-0-3

Hi I've finally sold my house after being on the market for months . 
It's coming up to 5 weeks since we agreed on the sale price there's still no valuation/survey been carried out .
I've spoke to my estate agent a few times .
He said there was a small issue when they renewed there morgage they would need a bigger deposit which wasn't a issue .
But that was a few weeks back .
I would have thought it would have been done by now .
There first time buyers and I'm not in a chain .



 

Slithery

If they're FTB's then why would they have a mortgage that needs 'renewing' (whatever that means)?

eddddy

It's not clear what the EA means, but taking a step back...

Is your EA paid on completion? If so they are likely to be progressing the sale - i.e chasing the buyer, and getting them to move the process along. And, like you, the EA will be keen to get the property back on the market if the current sale is looking doomed.

But if the EA was paid upfront, they're unlikely to be really progressing the sale - just passing messages back and forth. So you might have to be more proactive, in finding out what the problem is, and chasing the buyer, and deciding whether/when to consider remarketing.

Either way, you can start discussing with the EA when you should consider putting the property back on the market. If that message is passed on to the buyer, it might encourage them to move a little more quickly.

SameOldRoundabout

After 5 weeks I’d be getting concerned. Valuation should take place fairly quickly and you need to be chasing your agent to find out what’s going on. The mortgage comment makes no sense. If it were me I’d be telling him you need signs of progression or you’ll consider remarketing the house.