We've got sale contract to sign is this nearly it?

[newhouseplease]

Buyer had survey on Tuesday and today we received contract to sign to return to the solicitor for exchange. Does this mean that the buyer is happy with survey and plans to pay the amount in the contact? I'm aware its not done deal until we exchange but once the contact has been issued to sign are they generally happy? Not sold before and no other communication from solicitor other than contracts and letter hand delivered through the door saying buyer's solicitor has agreed contract. Fingers crossed!

[LIZS]

It would be very quick to have received a full report let alone be a confirmed mortgage offer. Contracts can yet be amended.

[newhouseplease]

No mortgage, they are a cash buyer.

[specialsubject]

It's happening in parallel, but not related to the survey or searches. Have you agreed the fixtures and fittings form?

[newhouseplease]

Yes sent fixtures and fittings form and the one about any disputes etc early last week. The letter from solicitor said please sign but not date ready for exchange.

[newhouseplease]

We've also answered a couple of questions that came up on searches

[Spickle]

Do you have a related purchase which needs to tie in with your sale? When you say that you have answered a couple of questions that came up in the search, did you answer the questions in full without any issues which could arise from your responses? If the buyer only had the survey done on Tuesday, have they had a chance to peruse the report and raise any queries on it? Have all the enquiries raised by your buyer's Solicitors been satisfactorily answered? Is there any paperwork which you have been unable to supply?

To be honest, signing the Contract doesn't necessarily mean you are ready to exchange. It is just a document your solicitor requires in readiness for exchange, but until all other documents and queries are satisfied, your solicitor will not be ready.

[newhouseplease]

No purchase for us, shouldn't be any issues regarding the couple of questions, all paperwork provided by us. I don't know if they've received survey report that was partly what I was asking, would the buyers solicitors agree contract ready for signing before they've seen the report and raised any issues?

[Spickle]

Firstly, the solicitor doesn't see the survey unless their client specifically shows it to them to raise questions. Solicitors don't get involved in surveys other than of a legal nature so it would have no bearing on the Contract being ready for signing or not. The signed Contract will be put in the file along with all other documents which are collated before exchange can take place. If the buyers were to raise queries on the survey next week or the week after, then the Contract will just sit in the file while everyone waits for the queries to be dealt with to everyone's satisfaction.

[Fingeronthebutton]

Don't get excited,yet. Exchanging the contract is the important part. Your Solicitor will string it out for 3 months, like all of them. They do this to justify their fees, ie, this has taken me 3 months.

[Spickle]

To be fair, it regularly takes 3 months just to swap paperwork and enquiries to the various parties and/or third parties and get satisfactory responses back. If the responses result in further queries there are more delays. 3 months is average, though obviously some transactions can be quicker if they are straight forward, others not so much.

[Takemymeditation]

Hi OP

As others have said, as your buyer is buying cash, the solicitor will know nothing about the survey, and any issues it may have thrown up.

I'm the buyer in this scenario. Potential purchase surveyed on Monday. Met the surveyor yesterday. It appears that I'm buying rather a money-pit.

Therefore, I'm still trying to decide whether to simply pull out of the purchase or offer a lower price