Vendor Solicitor not sending draft contract pack despite chasers

Competsoph

I’m also in almost the exact position as you OP.
We have had mortgage offer from lender. Now waiting on sellers solicitors. I’m waiting for this before we commission searchers. Apparently searchers can take 3-4 weeks. I’m calm about everything but after our solicitor chased the sellers and we’ve still heard nothing, it’s starting to become irritating. 

kasqueak

I’m in a similar position with my current purchase. We had our mortgage offer and searches back but still waiting on draft contract from sellers solicitor. 5 weeks has passed. My solicitor has chased multiple times but we’re still waiting. The house i’m buying is empty so I really hoped it would be quicker than this. 

Thrugelmir

TWIGLET1234 said:

@Thrugelmir
mortgage was agreed last week (subject to valuation which will I’m sure be fine) 

Either you have received a mortgage offer or you haven't. There's no interim agreed stage. Until you do. Don't expect your vendor to want to incur chargeable time with their solicitor. Currently you are wasting everyones time by chasing when there's no need. There's a long way to go yet. Relax and chill out. 

TWIGLET1234

Thrugelmir said:

TWIGLET1234 said:

@Thrugelmir
mortgage was agreed last week (subject to valuation which will I’m sure be fine) 

Either you have received a mortgage offer or you haven't. There's no interim agreed stage. Until you do. Don't expect your vendor to want to incur chargeable time with their solicitor. Currently you are wasting everyones time by chasing when there's no need. There's a long way to go yet. Relax and chill out. 

So the “underwriter decision : agreed” and subsequent email from mortgage centre saying offer will be issued after satisfactory valuation means nothing then? My broker and solicitor would disagree with you and they are the ones who asked me to get chasing the other side! 

SameOldRoundabout

Offer subject to valuation means YOU have been approved. The offer hinges on the property now being valued as worth what you’re paying for it. It may not be. Then you’re back to almost square one with adjusting mortgage amounts and deposits. So until you have an actual mortgage offer it’s fairly worthless. Our sellers solicitors sent the draft contract way before our mortgage offer arrived though so I don’t think you’re chasing for no reason. You can start the searches yes, as long as you are confident you can juggle finances for any down valuation then you may as well. 

TWIGLET1234

SameOldRoundabout said:

Offer subject to valuation means YOU have been approved. The offer hinges on the property now being valued as worth what you’re paying for it. It may not be. Then you’re back to almost square one with adjusting mortgage amounts and deposits. So until you have an actual mortgage offer it’s fairly worthless. Our sellers solicitors sent the draft contract way before our mortgage offer arrived though so I don’t think you’re chasing for no reason. You can start the searches yes, as long as you are confident you can juggle finances for any down valuation then you may as well. 

Thanks and yes this was exactly how I understood it to be too. 

We do not believe the property will be down values but as we aren’t surveyors, we obviously don’t know. We do know we will add additional funds if we need to as a result.
The professional  advice from those who know the case- ie broker and solicitor is to chase for the contract pack. Even the EA knows that the valuation has not been done and is actively chasing for the contract pack. So I will heed their advise and chase every couple of days. 

Thrugelmir

TWIGLET1234 said:

Thrugelmir said:

TWIGLET1234 said:

@Thrugelmir
mortgage was agreed last week (subject to valuation which will I’m sure be fine) 

Either you have received a mortgage offer or you haven't. There's no interim agreed stage. Until you do. Don't expect your vendor to want to incur chargeable time with their solicitor. Currently you are wasting everyones time by chasing when there's no need. There's a long way to go yet. Relax and chill out. 

So the “underwriter decision : agreed” and subsequent email from mortgage centre saying offer will be issued after satisfactory valuation means nothing then? My broker and solicitor would disagree with you and they are the ones who asked me to get chasing the other side! 

The vendors don't have to agree with you either. 

Estate Agent is the best party to keep everyone informed and do the chasing at the appropriate time.  

When you've bought and sold a few properties. You'll have a far better understanding.