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Sale can't complete for 5 months, what can I (buyer) be doing now?

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Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    AdrianC said:
    No, there's nothing much you can do to "demonstrate commitment", short of exchanging on the purchase. And that would require you to have all the mortgage and legal ducks ready to go.
    So do you think there will be an expectation I should be applying for a mortgage now, even though the offer will expire before completion? I guess I can only ask them and hope they are honest.
    Without exchanging contracts you could walk away at any time which leaves the vendor high and dry. Renewing a mortgage offer shouldn't prove problematic. 
  • Just chill out and enjoy summer x
  • Tokmon
    Tokmon Posts: 628 Forumite
    500 Posts Name Dropper
    AdrianC said:
    No, there's nothing much you can do to "demonstrate commitment", short of exchanging on the purchase. And that would require you to have all the mortgage and legal ducks ready to go.
    So do you think there will be an expectation I should be applying for a mortgage now, even though the offer will expire before completion? I guess I can only ask them and hope they are honest.

    The mortgage offer lasts for 6 months so starting the process now doesn't mean it will definitely expire unless the expected completion slips quite a bit. 

    Also i would get the solicitor to start doing searches and getting everything progressed as well as surveys if you want to show commitment because there is no reason to delay these things unless you want to play it safe just incase the deal falls through.
  • I'd get a survey booked now - shows motivation and allows you to think about any repairs that might need doing.
    Also a lot of mortgage offers last for 6 months so you may be ok.
    Also also, I wouldn't delay searches/enquiries too long as you don't know what these will throw up - plenty of threads on here of random issues highlighted causing delays that can run into months.
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