Typical timescale between offer accepted and aurvey

AskAsk

shiraz99 said:

How do you guys suggest I handle the offer on the inherited property. Should. I come clean with the EA and tell them about my own house having an offer accepted and that I would take the inherited property off the market if, and hopefully when, my sale goes through so it might be best to wait before formally accepting their offer. Or, should I just keep quiet, accept the offer knowing that if or when mine is further down the line and ready to exchange I'll pull out of the sale.

It's a dangerous game you're playing.

pjs493

My offer was accepted on a Sunday. On the Monday I researched survey quotes. Appointed a firm on the Tuesday morning who liaised with the Estate Agent that day and booked a mutually convenient time for the following Wednesday. I didn’t see anything to be gained by hanging around. I’m a cash buyer so now mortgage to apply for. 

I appointed my solicitor on the Wednesday after my offer was accepted and by Friday they’d sent me paperwork, I’d completed it, and returned it. My solicitor has done as much as they can while they wait for the vendor’s solicitor to forward things to them. 

Bigphil1474

OP, personally I wouldn't accept the offer on the other house and I would take it off the market. Don't forget the buyers are people too. If you accept the offer they might spend a significant chunk of money with a solicitor and on surveys when you've no real intention to sell. It's not a dangerous game, its a not very nice game. If you tell the EA you've had a change of heart and decided to move in there once yours has sold, it should be fine. Would your siblings allow you to move before sale, would make selling yours much easier?

shiraz99

Bigphil1474 said:

OP, personally I wouldn't accept the offer on the other house and I would take it off the market. Don't forget the buyers are people too. If you accept the offer they might spend a significant chunk of money with a solicitor and on surveys when you've no real intention to sell. It's not a dangerous game, its a not very nice game. If you tell the EA you've had a change of heart and decided to move in there once yours has sold, it should be fine. Would your siblings allow you to move before sale, would make selling yours much easier?

I tend to agree with you and is what I'm currently thinking. I don't want to be that person who causes unnecessary hassle for the other party.

Ideally I would want to just "bank" this offer for now, and I fully accept and understand if the potential buyer looks elsewhere, then come back to it if my own house sale is looking doubtful due to any possible renegotiation following a survey. If that happens then I'd just accept mine isn't going to sell for what I need and put all efforts into the sale of the inherited property. It's just a case of how I handle this with the EA.

BarelySentientAI

shiraz99 said:

Bigphil1474 said:

OP, personally I wouldn't accept the offer on the other house and I would take it off the market. Don't forget the buyers are people too. If you accept the offer they might spend a significant chunk of money with a solicitor and on surveys when you've no real intention to sell. It's not a dangerous game, its a not very nice game. If you tell the EA you've had a change of heart and decided to move in there once yours has sold, it should be fine. Would your siblings allow you to move before sale, would make selling yours much easier?

I tend to agree with you and is what I'm currently thinking. I don't want to be that person who causes unnecessary hassle for the other party.

Ideally I would want to just "bank" this offer for now, and I fully accept and understand if the potential buyer looks elsewhere, then come back to it if my own house sale is looking doubtful due to any possible renegotiation following a survey. If that happens then I'd just accept mine isn't going to sell for what I need and put all efforts into the sale of the inherited property. It's just a case of how I handle this with the EA.

So "ideally" you want to be stringing the buyers of both properties along and then dropping one of them at some point in the future.

I think however you "handle" that with the EA, it's not a great thing to do.

shiraz99

That's not what I said at all. I'm trying to avoid this scenario.

Bottom line is I fully intend to move from my house to the inherited property but as I was having difficulty selling mine last year we had no choice to also but the inherited property up for sale too and go with that if mine doesn't sell, it would be remiss of us not to. It just so happens mine has now had an offer accepted and is SSTC as of 3 weeks ago but we've now just had the offer on the inherited property.. I'd be stringing the potential buyer of the inherited property along if I also accept their offer which is not I want to do but I also want to keep this property available to sell quickly if mine fails to do so. This is why I'm asking for advice here.

annetheman

shiraz99 said:

That's not what I said at all. I'm trying to avoid this scenario.

Bottom line is I fully intend to move from my house to the inherited property but as I was having difficulty selling mine last year we had no choice to also but the inherited property up for sale too and go with that if mine doesn't sell, it would be remiss of us not to. It just so happens mine has now had an offer accepted and is SSTC as of 3 weeks ago but we've now just had the offer on the inherited property.. I'd be stringing the potential buyer of the inherited property along if I also accept their offer which is not I want to do but I also want to keep this property available to sell quickly if mine fails to do so. This is why I'm asking for advice here.

If you intend to move into the inherited property, take it off market right now. Put it however you wish, you are stringing the potential buyers who have made an offer along. You say yourself you have no intention of accepting it. You only want them to be available to buy it if your house sale fails. That is definitively stringing them along.


Your back up should your house sale fail should ideally be finding another buyer. It shouldn't be stringing along a buyer who will spend money and start the process of upheaving their lives to move into a house you don't intend to sell. 


If you accept the inherited house's offer, you will owe the estate agents money as they have found you a ready, willing and able buyer. If you don't accept the offer, the buyers will move on anyway and the EA will figure out your game quickly enough and stop working for you - you're wasting literally everybody's time, to be blunt.

ss2020jd

To answer the original question, it was two weeks from offer to survey for my buyers. However, there has been no contact at all since so I have been chasing the EA and my solicitor has been chasing as well. 

BarelySentientAI

shiraz99 said:

That's not what I said at all. I'm trying to avoid this scenario.

Bottom line is I fully intend to move from my house to the inherited property but as I was having difficulty selling mine last year we had no choice to also but the inherited property up for sale too and go with that if mine doesn't sell, it would be remiss of us not to. It just so happens mine has now had an offer accepted and is SSTC as of 3 weeks ago but we've now just had the offer on the inherited property.. I'd be stringing the potential buyer of the inherited property along if I also accept their offer which is not I want to do but I also want to keep this property available to sell quickly if mine fails to do so. This is why I'm asking for advice here.

It is what you said, you're just hiding it in big paragraphs.

You "ideally" (in your own words) want to accept the offer on both properties and then either reject the offer on yours if they want to negotiate following survey or reject the offer on the inherited if they don't.  That's messing at least one buyer around, and since you don't know which it's effectively messing them both around.

You are only going to sell one property.  Only accept one offer.

Tiglet2

AskAsk said:

Jami74 said:

First time buyer.
Day 0 - Offer accepted
Day 4 - Mortgage application submitted
Day 5 - Mortgage Desktop Valuation
Day 17 - Mortgage offer
Bank holiday weekend
Day 20 - Survey booked
Day 34 - Survey happened
Day 78 - Still waiting for solicitors to finish doing their thing

The solicitors are the ones who delay the process.  If they worked as soon as they get anything in, the whole process could be shorten by 6 weeks!

Hahahaha - totally unrealistic unless you are paying by the hour.