This would make things much simpler for everyone.
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.What's to stop the seller getting a surveyor he knows and to leave stuff out?
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.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.
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?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.
I had a PEP on my name. No clue who the person was so just said that and that was it.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
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.Seems like a no brainer to do this step by step.
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 wasteI 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.
searches plus survelyor is more than a grandIn 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.
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.
No correct order but all steps need to be done before get the keys.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.