Buyer dragging feet or lazy EA?

SharkMoney

Sold house 14 days ago and there has been silence.
Spoke to EA after 10 days and “sales progression’ person said they are not “working” on our sale until next week (16 days later).
EA starts telling me they will be speaking to the buyer next week to ask if they have put in mortgage app etc.
isn’t that a two minute conversation that could have taken place on day 1 or 2???

is this normal??

Avalanche123

I think that is fine?

We are buyers and couldn't get an appointment for application for earlier than in 3 weeks' time. I am new to this but I thought it takes a while.

SharkMoney

Avalanche123 said:

I think that is fine?

We are buyers and couldn't get an appointment for application for earlier than in 3 weeks' time. I am new to this but I thought it takes a while.

Why do you need an appointment? In person? We called our broker who agreed to speak to us 3 hrs later and have an AIP with a lender who typically offers in 14 days. I don’t understand all this “waiting for mortgage offer” business - I’ve never waited. 

Avalanche123

SharkMoney said:

Avalanche123 said:

I think that is fine?

We are buyers and couldn't get an appointment for application for earlier than in 3 weeks' time. I am new to this but I thought it takes a while.

Why do you need an appointment? In person? We called our broker who agreed to speak to us 3 hrs later and have an AIP with a lender who typically offers in 14 days. I don’t understand all this “waiting for mortgage offer” business - I’ve never waited. 

No, we had AIP already. This is a phone appoitment for a full mortgage application.

I think this due to the backlog. We dont use broker, cheaper rates with bank for us at the moment.

Thrugelmir

Serve no purpose on day 1 or 2. Will take time to organise a mortgage. EA will be awaiting a call to perform the valuation. 

Facknats

Like Avalanche123, we have AIP but it has taken around 4 weeks to get anywhere near a mortgage offer. The broker tried for a week before recommending we go and attempt an application alone (HSBC have a backlog and limit the number of broker apps each day). 
Week 1: broker tries
Week 2: we attempt online app, it's broken so we make an appointment with telephone advisor
Week 3: we submit full app
Week 4: underwriter requests more details, valuation takes place
Expecting to hear back next week, the 5th week.

AdrianC

SharkMoney said:

Sold house 14 days ago and there has been silence.
Spoke to EA after 10 days and “sales progression’ person said they are not “working” on our sale until next week (16 days later).
EA starts telling me they will be speaking to the buyer next week to ask if they have put in mortgage app etc.
isn’t that a two minute conversation that could have taken place on day 1 or 2???

is this normal??

First off, you haven't "sold" anything yet.

You've had an offer, which you've accepted.

Until the memorandum of sale is issued, there is nothing more than that, and nothing for the solicitors to get started on.

Is your chain complete? Have both you and your buyer submitted all the basics to the EA - their finances, both your solicitor details? From what you said, no - there's no financial details been confirmed yet. Remember, the full mortgage application can't be submitted until the offer has been accepted.

SharkMoney

AdrianC said:

SharkMoney said:

Sold house 14 days ago and there has been silence.
Spoke to EA after 10 days and “sales progression’ person said they are not “working” on our sale until next week (16 days later).
EA starts telling me they will be speaking to the buyer next week to ask if they have put in mortgage app etc.
isn’t that a two minute conversation that could have taken place on day 1 or 2???

is this normal??

First off, you haven't "sold" anything yet.

You've had an offer, which you've accepted.

Until the memorandum of sale is issued, there is nothing more than that, and nothing for the solicitors to get started on.

Is your chain complete? Have both you and your buyer submitted all the basics to the EA - their finances, both your solicitor details? From what you said, no - there's no financial details been confirmed yet. Remember, the full mortgage application can't be submitted until the offer has been accepted.

Yes I know it’s SSTC. The chain is complete, 3 parties. 

Sale memorandum was done on day 3. 

What I don’t know is it buyer has instructed searches or submitted mortgage app - EA seems reluctant to bother finding out until next week. I see no reason for delay. 

SharkMoney

It does feel like there is nobody “managing” the entire transaction across the 3 parties. 

AdrianC

SharkMoney said:

It does feel like there is nobody “managing” the entire transaction across the 3 parties. 

No, there isn't.

Who would be? The different links of the chain certainly aren't all via the same EA - they may not even be in the same country.

greatcrested

SharkMoney said:

AdrianC said:

SharkMoney said:

Sold house 14 days ago and there has been silence.
Spoke to EA after 10 days and “sales progression’ person said they are not “working” on our sale until next week (16 days later).
EA starts telling me they will be speaking to the buyer next week to ask if they have put in mortgage app etc.
isn’t that a two minute conversation that could have taken place on day 1 or 2???

is this normal??

First off, you haven't "sold" anything yet.

You've had an offer, which you've accepted.

Until the memorandum of sale is issued, there is nothing more than that, and nothing for the solicitors to get started on.

Is your chain complete? Have both you and your buyer submitted all the basics to the EA - their finances, both your solicitor details? From what you said, no - there's no financial details been confirmed yet. Remember, the full mortgage application can't be submitted until the offer has been accepted.

Sale memorandum was done on day 3.

What I don’t know is it buyer has instructed searches or submitted mortgage app - EA seems reluctant to bother finding out until next week. I see no reason for delay. 

EA has issued th memo - it's up to the buyer ow to progress with their solicitor (if using one) and lender (if gettng a mortgage).

2 weeks is very short. I'd not expect you to have heard anything on either in that timeframe

OK - EA could ring buyer and say "Have you applied for mortgage?" Buyer says says "Yes." (which may or may not be true). EA tells you. But that progresses nothing.

Be patient.