The nervous wait to exchange....

Associate
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surveys should be done on the house when it goes on the market, potential buyers can look at it, read it and make an offer based on that.
This would make things much simpler for everyone.

Our seller is still keen on us so will have to see what updates we get today. Checking with our MA on how flexible the mortgage offer is if we need to shift to a different property (If I can even find anything for similar price that is)
 
Soldato
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I believe a level 3 survey carries some level of warranty that the surveyor hasn't missed something obvious, and you can claim if they have.

Mostly it would be down to a people working in a professional capacity.

Could solve that fairly easily by having the current mortgage lender arranging for one, or being assigned one by a panel or something.
 
Soldato
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What's to stop the seller getting a surveyor he knows and to leave stuff out?
If it's something that is done on every single house sale then the numbers will be small and about as common as other sorts of fraud and deception I'm sure. The vast majority of transactions would benefit from introducing the policy IMO.


I believe a level 3 survey carries some level of warranty that the surveyor hasn't missed something obvious, and you can claim if they have.

Mostly it would be down to a people working in a professional capacity.

Could solve that fairly easily by having the current mortgage lender arranging for one, or being assigned one by a panel or something.
Yes, surveyors are RICS accredited at all levels and there's a formal complaints process, risk of losing accreditation etc etc. However having the mortgage lender organise it would be too late in the process - seller (or estate agent maybe) should have the survey done at the point of listing the property for sale. The lender do their own survey anyway.
 
Soldato
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Yes I agree I was mainly saying you need an informal method of picking one that prevents you selecting your mate from the pub, so pick one method I guess, going via current lender would formalise one method.

A centralised one that everyone uses would make sense as well.

In theory I think such things could extend to other parts of the process for example searches as well, but those may not be possible to frontload as you'd miss new search items if they popped up.
 
Soldato
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you can apply for the searches whenever.

The only reasons to not do everything in parallel is because you don’t want to ‘risk’ spending the money on the searches until the survey comes back or you have confirmation of the mortgage etc.

Not doing it in parallel slows everything down and extends the time by weeks or even months. As a seller I’d expect any serious buyer to be doing all these steps in parallel.

Your solicitor should be dealing with the searches anyway. The mortgage and survey is usually up to you to organise or request. The bank deals with the valuation and you’ll have no involvement in organising that.
 
Soldato
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you can apply for the searches whenever.

The only reasons to not do everything in parallel is because you don’t want to ‘risk’ spending the money on the searches until the survey comes back or you have confirmation of the mortgage etc.

Not doing it in parallel slows everything down and extends the time by weeks or even months. As a seller I’d expect any serious buyer to be doing all these steps in parallel.

Your solicitor should be dealing with the searches anyway. The mortgage and survey is usually up to you to organise or request.
Well, as u say, what if u as a seller backs out? Its not you who will pay for the searches etc on a property that you have taken off the market for whatever reason?

I have already been burned once during the early stages and many here have done so as well.

Seems like a no brainer to do this step by step.

Anyways my solicitor came back with an ID check and it revealed a PEP entry under my name? upon looking at these names, i have no idea who these people are and they all seem to be based in the USA lol
 
Soldato
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Well, as u say, what if u as a seller backs out? Its not you who will pay for the searches etc on a property that you have taken off the market for whatever reason?

I have already been burned once during the early stages and many here have done so as well.

Seems like a no brainer to do this step by step.

Anyways my solicitor came back with an ID check and it revealed a PEP entry under my name? upon looking at these names, i have no idea who these people are and they all seem to be based in the USA lol
I had a PEP on my name. No clue who the person was so just said that and that was it.

we kicked searches off asap as they can take 2-3 months to arrive. Doing it step by step may sound sensible but it really isn't. That is why buying process in this country is broken, you can and will get burned. My mate wasted £3k before he gave up trying to buy here.
 
Soldato
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Seems like a no brainer to do this step by step.
For the sake of risking under a grand no, I'd rather not add weeks or months to the process. You'd probably save that same cash in rent and bills by moving faster.

The process of buying a house costs money and you might lose some of that along the way. It's the same with surveys, if you spend £600 and the survey comes back squeaky clean it might feel like a waste but it's not.
 
Soldato
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In my view, you want to get to the chain point of exchange as quickly as possible. Dragging it out helps no one.

I’m less fussed on when the actual completion date is, that could be few weeks to suit everyone if needed. Once contracts are exchanged it becomes very expensive for anyone to back out and the risk of that happening drops significantly.
 
Soldato
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I had a PEP on my name. No clue who the person was so just said that and that was it.

we kicked searches off asap as they can take 2-3 months to arrive. Doing it step by step may sound sensible but it really isn't. That is why buying process in this country is broken, you can and will get burned. My mate wasted £3k before he gave up trying to buy here.
Im sure more concerned about it falling through. Should i at least wait for the mortgage valuation/offer? because if that fails then the whole thing is a waste
 
Soldato
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In my view, you want to get to the chain point of exchange as quickly as possible. Dragging it out helps no one.

I’m less fussed on when the actual completion date is, that could be few weeks to suit everyone if needed. Once contracts are exchanged it becomes very expensive for anyone to back out and the risk of that happening drops significantly.
searches plus survelyor is more than a grand
 
Man of Honour
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Sounds like all the paperwork is now done. The chain now needs to agree a completion date. Fingers crossed for next week. That would leave me with 3 free weeks to set up as much as I can. I’m hoping to at least order some of the longer wait items once we have exchanged.
 
Associate
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Is there a website somewhere that tells you all the steps involved in selling + buying a house? Seems like there's loads of steps, and I don't think I know all the steps, or the correct order.
 
Soldato
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Is there a website somewhere that tells you all the steps involved in selling + buying a house? Seems like there's loads of steps, and I don't think I know all the steps, or the correct order.

There is no ‘correct order’ in England other than everything needs to be done before exchange. The quicker everyone does the paperwork, the quicker you move. The bigger the chain, the more difficult it is to get people organised and on the same page in terms of timeframes etc.

Every sale and purchase is different, other than arranging any finance and deciding if you want a survey or not is down to your solicitor. It’s their job to make sure everything is done and advise you what to do for your particular sale and/or purchase.
 
Soldato
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There is no ‘correct order’ in England other than everything needs to be done before exchange. The quicker everyone does the paperwork, the quicker you move. The bigger the chain, the more difficult it is to get people organised and on the same page in terms of timeframes etc.

Every sale and purchase is different, other than arranging any finance and deciding if you want a survey or not is down to your solicitor. It’s their job to make sure everything is done and advise you what to do for your particular sale and/or purchase.


^What he said, but for a first time it does seem confusing as solicitors and estate agents seem to assume you already know how it works.

This might help: https://static.samconveyancing.co.uk/userfiles/images/Guide-to-Buying-a-Home---SAM-Conveyancing.jpg

Or just do a google image search for something like conveyancing flowchart uk to get more of an idea of the various hurdles.
 
Associate
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That is handy ty.

When does the survey get done to find any issues with the property? Do you need to pay for a survey before you even make an offer? (presumably it affects the price) But then you can go round paying for surveys on houses you never end up buying? Doesn't make sense?
 
Soldato
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Lorville - Hurston
Is there a website somewhere that tells you all the steps involved in selling + buying a house? Seems like there's loads of steps, and I don't think I know all the steps, or the correct order.
No correct order but all steps need to be done before get the keys.
That is why i listed some of the steps asking if its best to execute certain steps after others are done
 
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