How important is a mortgage valuation?

[Penfield]

Our buyers have spent the last 3 months trying to get this together.

Tbf we hadn't found a house to move to for the first 4 weeks. They may have been waiting until we did that. If that's the case, it's been since mid August that they've been telling us they'll soon have their mortgage valuation done.

They've just told us (Friday gone) that the bank now needs to validate their deposit which is overseas - and this will take 10 days. This needs to happen before the valuation takes place.

Is this dodgy/normal? Why is it all taking so long?

It all depends when they applied for the mortgage. I wouldn't have applied until the chain was complete so they may have done the same thing, then it depends on the backlog at the company they were using etc......

OK - so maybe it's nothing to worry about.

We're waiting to start our searches for the house we're buying until our buyers have their mortgage valuation. Is that a reasonable thing to do?

Otherwise we think they could very well not have the funding to be able to buy our house.