PLEASE READ BEFORE POSTING

Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

quick questions

Options
pinkjobo
pinkjobo Posts: 28 Forumite
in House buying, renting & selling
We are waiting for our mortgage to be approved. Nationwide said it would take up to 2 weeks but she would put urgent on the file. Valuation Surveys have been done. Well how will I know when its approved? Do they send you a letter, a phone call, or does it go thro solicitors?

Do we get to see a copy of the valuation search on our house that we are selling?

Also I take it the solicitors are doing the searches etc at the moment. Well if everything is ok is that when you organise the exchange?

There are about 6 in the chain. Does everyone have to exchange on the same day at the same time?? If so how does that work then?! I have visions of all the solicitors on the phone saying 'after 3, ...1...2....3...Go!!!!

Sorry but not done this before. 7 years ago we swapped houses with the lady across the road which is highly recommended!

Comments

  • cattie
    cattie Posts: 8,841 Forumite
    Name Dropper First Anniversary First Post
    Options
    When the valuation is done on the house you are buying you will receive your mortgage offer from the lender & possibly a copy of the valuation certificate. Some lenders don't provide this if you have had your own homebuyer's survey carried out also.

    No you won't receive a copy of the valuation on the house you are selling. Only the buyers get this as it's to confirm the house is worth the price being paid.

    It's possible the solicitors won't start any work on your purchase before your actual mortgage offer is through. The whole selling & buying process has taken between 12-14 weeks in my experience with only 2 involved in the chain but with a chain of 6 :eek: I hate to think how long the whole process
    could possibly take.:eek:

    I'm not sure about the exhange of contracts part, but it tends to be usual for people to complete on the same day.

    I wish you luck & as little stress as it's possible to have when buying and selling. Keep the brandy bottle close by just in case.:rotfl:
    The bigger the bargain, the better I feel.

    I should mention that there's only one of me, don't confuse me with others of the same name.
  • mummytofour
    mummytofour Posts: 2,636 Forumite
    Options
    I totally agree with cattie, it could take a while with such a long chain.
    Good luck.
    Vxx
    Debt free and plan on staying that way!!!!
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards