Chain of four

benidorm59

We are selling our property and thought we were holding up the chain.  We have a Management company who are being obnoxious. Today however we find that our buyers buyer.  The party buying our buyers house wants a second valuation on their property.  Our estate agent said its common am not sure anyone heard of this thanks  Am thinking something not right

propertyrental

'Not right'? As in you don't believe the buyer's buyer IS getting a new valuation? Or you are suspicious as to why they are doing so?

Either way - it's irrelevant and you'll probab;ly never know the truth. The chain will either complete or..... fall apart.

You cannot predict.

benidorm59

I know can't predict was wondering if it's common

propertyrental

what's common? Delays? Yes.

NameUnavailable

A second valuation on what, the property they're buying? It suggests to me a problem with getting a mortgage, but who knows? Ask the EA to find out exactly what's going on.

badger09

Depending on how long you/your management co have been holding up the chain, your buyers’ buyer might be thinking your buyers’ house is now worth less than their offer😏

FlyMeSomewhere79

My workmate had a similar situation last year with the house he is buying, the bedroom upstairs had a dormer thing built on it in the early 80's that has never been signed off as meeting fire and building regs. His mortgage company said they would only mortgage if he signed and agree not to use the bedroom in question as habitable. 

He then went to the seller and said that if he couldn't use the bedroom as habitable it would need to be revalue as just a one bed rather than a two bed home - they agreed in the end to pay a builder to check it and sign off as meeting refs for the mortgage.

benidorm59

Apparently it's the first leg of the chain.  Had a valuation and mortgage approved but now talking of a survey.  House is being sold private so hard to get info how it's progressing just a worry 

NameUnavailable

benidorm59 said:

Apparently it's the first leg of the chain.  Had a valuation and mortgage approved but now talking of a survey.  House is being sold private so hard to get info how it's progressing just a worry 

That sounds normal. Get the mortgage valuation out of the way and then get the survey done. Obviously the survey might bring up some issues they may want to try to negotiate on but that's not something you are party to.

benidorm59

Turns out the first terraced house in the chain was previously a butchers.  And is classed as commercial any one seen this before 

eddddy

benidorm59 said:

Turns out the first terraced house in the chain was previously a butchers.  And is classed as commercial any one seen this before 

Do you know what the actual problem is?



For example, is it that the property hasn't got planning consent for change of use from retail to a house?

If so, getting planning consent usually takes about 8 weeks - assuming it's granted.

But if somebody has converted it without planning consent, I guess it's likely that they didn't get building regs sign-off either, which could be a much bigger problem.