No mortgage valuation 5 weeks after accepting offer

Carebear821

I accepted an offer on my flat almost 5 weeks ago from a buy to let investor. My previous buyer pulled out so it was a real rush to get another buyer as I'm at risk of losing the house I'm buying. I had to push my estate agent a bit to get this buyer to pay his legal fees to get the searches started. That's all under way. However we've still not been contacted about a valuation from his mortgage provider. I try not to contact my EA too often as she makes it quite obvious that she's not pleased to hear from me. However I'm really anxious that this is taking so long. Am I right to call my EA again and be a bit more assertive or is 5 weeks not that unusual?

ic

How do you know there hasn't been a valuation?  Some are "desktop" and decided by a computer instead of somebody physically visiting the house.  Do you know they need a mortgage and aren't buying with cash?  An investor might be willing to forego a survey too.

As for calling your estate agent, I don't see the harm in weekly updates - at the end of the day, they'll earn thousands when your sale completes so should be working to see it through.

Carebear821

I was told by the vendors EA that the buyer will be aware if a desktop valuation has taken place. According to my EA he wasn't aware of one and was going to chase the broker last week. Still no update though. 

Redwino222

My buyer is with nationwide and it took five weeks for the valuation to take place. That was a weeks ago - still no feedback on whether the mortgage has been approved. 

My estate agent is very proactive though and has been chasing them and giving me weekly updates 

Carebear821

Redwino222 said:

My buyer is with nationwide and it took five weeks for the valuation to take place. That was a weeks ago - still no feedback on whether the mortgage has been approved. 

My estate agent is very proactive though and has been chasing them and giving me weekly updates 

Thanks for this. It's reassuring. The vendors EA is really putting the pressure on and has made me think something is really amiss about this valuation. It would be helpful if my own EA was a bit more proactive! 

Thrugelmir

After 5 weeks your EA should be more proactive to ascertain what the position is. 

cheeky-peach

We accepted an offer on May 1st and last Friday the valuation happened which was arranged as part of a Nationwide Mortgage. Someone came and took photos and had a chat. He said it would go to someone to value back in the office so I'm not sure if it was a desktop one or not really.

Adsta

Slightly off topic and granted I've never sold a house. But the amount of comments I've seen of sellers seemingly annoyed with the EA is quite surprising. I would have thought surely if the EA is not being helpful or doing much you'd change EA or complain about the EA. They are making a fair chunk of money out of you. Why should you feel bad or care that they are not happy about you chasing them.  

Carebear821

Adsta said:

Slightly off topic and granted I've never sold a house. But the amount of comments I've seen of sellers seemingly annoyed with the EA is quite surprising. I would have thought surely if the EA is not being helpful or doing much you'd change EA or complain about the EA. They are making a fair chunk of money out of you. Why should you feel bad or care that they are not happy about you chasing them.  

I totally agree with you. In this case I'm tied into a sole contract for 6 months so have no option to switch. I shouldn't feel awkward chasing them and I wish I didn't but I feel like a complete nuisance each time I call. Which isn't very often at all btw. 

Hannimal

Pester your EA. You're paying them a fortune

Carebear821

Hannimal said:

Pester your EA. You're paying them a fortune

I tried that again today to be told that they've left him a message and still had no response. He's a valid customer of theirs so they don't want to lose him. Sounds like my sale is small fish really