Vendor asks us to book a survey immediately

[ccmm]

We just got an offer accepted for a property. The vendor requires us to book a mortgage survey within the next few days, otherwise they'll show the property to other people. They argue this is to show that we're committed to buying. The thing is they have not found their next home and they literally just started looking. We'll have to pay for the survey without knowing what's gonna happen. We're also worried that if we pay things upfront, the vendor will have guarantee that we will not walk away and they'll slow down their home-hunting process.

Is the vendor's requirement normal? What should we do?

When we sold last year our estate agent told me people should only start doing surveys once the chain is complete.

@Puffthemagicdragongoestobed

When we sold last year our estate agent told me people should only start doing surveys once the chain is complete.

Exactly. That's what DH and I thought is reasonable. But the EA said there was a similar offer. If we don't do the survey to show our commitment, they would accept the other offer!

It's your mortgage provider who arranges a mortgage valuation survey, not you. Also, your mortgage provider may choose just to do a desktop survey, rather than sending someone out, especially at the moment.

@rbe78

It's your mortgage provider who arranges a mortgage valuation survey, not you. Also, your mortgage provider may choose just to do a desktop survey, rather than sending someone out, especially at the moment.

Yes they will arrange it. But we have to pay for the survey so we are hesitant to do it at very early stage.

If you don't want to do it then don't do it. In the worst case, they find someone else who is willing to and you lose the sale. How much does this particular property mean to you?

I've never had to pay for a valuation survey as they've always been free with Santander so I'm not 100% sure when you pay. Surely you only do it once you're application has been approved subject to valuation? Are you at that stage yet?

You don't have to do anything. However they are 'holding the cards' and could allow others to view and risk finding someone willing to pay at least equal if not more who will do the survey

Ah the mysterious "other buyer"

No doubt they've got the cash, can move quickly, and are very keen to buy. They might even be about to make a higher offer.