About to sign and buyer wants survey last minute

[longdiling]

I'm feeling really worried about this...we had an offer a few months ago. The buyer had a cash buyer for their property and didn't want a surveyor on our house so we all just went ahead and instructed solictors etc. We heard this week that all searches are back and made an appointment to go and sign everything. Then, today, our Estate Agent emails to say that the buyer's surveyor will be in touch to arrange a survey. I can't get hold of our usual contact at the Estate Agency but I'm really worried that they are only requesting a survey at this very late stage so they can knock the price down. Has anyone had any experience of this? My stomach is churning...the surveyor is coming on Monday which feels like a lifetime away. What would make them request a survey so late - apart from the sinister conclusion we've jumped to?!

[HollyMaingate]

The buyer's solicitor has probably just realised they hadn't got one and said 'are you out of your mind buying a property without doing a survey?' and has advised to get one done sharpish. No need at all for it to be sinister, just common sense. Cash buyer or not it would be foolish not to have at least a basic one done so don't worry at all.

[longdiling]

Yes that does make sense. We were very surprised they didn't want one. It's an old house too. We just kind of assumed they were in the building trade or something and knew what they were doing.

[Onecurrantbun]

Our solicitor strongly advised we got a survey but didn't mention it until we were ready to exchange. Fortunately we'd already had one but she didn't half bang on about it, enough to put the willies up the most gung ho buyer. I wouldn't worry and would expect they only just realised how naive stupid they were being!

[Ladymuck]

To be honest I would be hopping mad with your estate agent who should also be chasing this up and getting it sorted out. I would be expecting them to be very suspicious of any buyer not wanting a survey and to get to the bottom of it.

[bilbodog]

I am assuming this isn't a mortgage valuation survey? Are they having a mortgage? If so then this does need to be done and some financial companies are taking a long while to get round to doing them. I wouldn't necessarily put all the blame on the estate agents though - get your solicitor to query with their solicitor why this is only being done now!

[longdiling]

Sorry - only just getting back to this. We are chasing up with their solicitor why they suddenly need one but haven't heard anything back. The surveyor is coming Monday morning so we'll try and ask him but obviously he may not feel at liberty to give us much info.

Thanks all

[BeaufortBelle]

I imagine they will use it to negotiation on price and they have got you this far because you have now spent money on fees, etc., and will be more likely to give a reduction to cut your losses. I'd be ready to play hard ball unless anything significant arises. Speak to the agent and tell them that you want them ready to remarket immediately in the event that your purchasers are unreasonable.

[Biscuit0109]

This happened to us. We were very suspicious that the buyers were looking to re-negotiate. But the truth was that the solicitor had scared them into having one done at the last minute because the house is 1850s. The survey came back fine and the sale went through smoothly albeit a couple of weeks later than we hoped. Fingers crossed it's the case with your buyers.

[Storagehunter]

I'd be very interested in the outcome of this OP, as I'm in a similar situation.

I accepted an offer on my house back in mid-February from cash buyers. They have said several times that they are sorting out a survey, but no survey has taken place.

Like the OP, I fear that it might be a ploy to get the price reduced late in the day, but I intend to stand firm (even though I obviously don't want to jeopardise my own purchase). In my area, house prices are rising steadily, so I will try to use that as a reason not to enter any re-negotiation on price - unless the survey does throw up a major problem !

[longdiling]

Well the surveyor came and it was just a valuation survey so I feel a bit better about it. I'm assuming they now need a mortgage and am reasonably confident that the house will be valued at the price we're selling it at as we'd dropped the price a fair bit anyway. I'll let you know the outcome! Thanks

[Storagehunter]

That's a relief for you!