Advice on selling

TheDriver

So I have agreed a price with a buyer and all going well, contracts sent to their solicitor. Now 2 weeks ago they were arranging a surveyor and bank etc and heard nothing since.
Whats the time frame for "whats going on" phone call? I don't want to badger them but I also want them to let me know they are going through with it.

someuser905

i'd send a text first

the_syco

TheDriver wrote: »

2 weeks ago they were arranging a surveyor and bank etc and heard nothing since.

Ask them when the surveyor will coming over, and you should be able to judge by their reaction what is happening.

killers1

TheDriver wrote: »

So I have agreed a price with a buyer and all going well, contracts sent to their solicitor. Now 2 weeks ago they were arranging a surveyor and bank etc and heard nothing since.
Whats the time frame for "whats going on" phone call? I don't want to badger them but I also want them to let me know they are going through with it.

Sounds to me like they put the offer in prior to getting mortgage approval (not unusual). They may be fine to get finance but it would generally take a couple of weeks to gather up the info and get a decision from the bank. I'd leave it till next friday and if you haven't heard then give them a call or if you sold through an EA get them to make contact. If they had approval already and were delighted to have had an offer accepted the valuation or survey would have been instructed by now

TheDriver

Thanks all. They did say the bank told them to come back once they had a property ready so they might have not even got approval at that stage but they were eager to purchase. Their solicitor said they were arranging a surveyor but I got no call to open the property (I sold it myself) so I think it may be the bank thats holding them up.
Will give them a shout in the coming days.
I assume everyone gets an engineer to look over a property? Its a house in an estate built 8 years ago.

killers1

TheDriver wrote: »

Thanks all. They did say the bank told them to come back once they had a property ready so they might have not even got approval at that stage but they were eager to purchase. Their solicitor said they were arranging a surveyor but I got no call to open the property (I sold it myself) so I think it may be the bank thats holding them up.
Will give them a shout in the coming days.
I assume everyone gets an engineer to look over a property? Its a house in an estate built 8 years ago.

It's definitely just sounds as though they are awaiting formal approval from the bank.. This can take the 2 weeks you have been waiting and obviously they won't want to pay for valuation reports or surveys without knowing the funds are in place. Bear with them, they were up front with you in telling you that they needed to go back to the bank. I'd imagine some progress will be made by the end of next week, if not give them a shout to see where they are with the valuation report etc.. They will be definitely getting a structural survey done (or at least would be mad not to).

TheDriver

many thanks, will update in a few days when I have more news.
They seem very honest and upfront so want to give them some benefit of the doubt. At same time, its a nervous time for us selling.
I assume if people want to pull out of the sale, then they pull out and not keep going for while, seeing as they have a solicitor working on their behalf.

killers1

TheDriver wrote: »

many thanks, will update in a few days when I have more news.
They seem very honest and upfront so want to give them some benefit of the doubt. At same time, its a nervous time for us selling.
I assume if people want to pull out of the sale, then they pull out and not keep going for while, seeing as they have a solicitor working on their behalf.

I'd say it'll be fine and they are just formalising their approval with their lender. You say it's a nervous time for you selling but it's also a nervous time for purchasers because when they sign the contracts they're committed to the purchase whereas the seller can leave signing the contracts to the last minute and pull out anytime up to that. Sounds like they were just being honest with you and nowadays people don't really put offers in unless they want to proceed with the property...

TheDriver

Thanks for your reply. I was thinking this is the case. Will keep you posted how things go.
Thankfully that period 2-3 years ago with people putting in offers for the sake of it is now gone.