On average, how long is it from offer being accepted to getting the survey valuation done?
We were gazumped on a property at the start of the month, and massively so (15% increase on our offer, which was at an asking price of £600k). Obviously this was a massive increase but also in our opinion made the property overpriced. A property a few doors down sold at £610k at the end of 2021 and had a larger garden and big extension creating a much bigger kitchen with bifold doors, lantern roof lights etc. The house (we were purchasing) was cosmetically very tired, very small galley kitchen. We could see a few windows were blown etc, some damp patches inside, very dated bathrooms although I’ve heard blue suites are making a comeback! Our survey was due to be done a few days after we got gazumped so we were able to cancel it. It was two weeks after our offer was accepted.
I guess we are hopeful the sale won’t go through as surely it will be very out of sync with the valuation? I’ve been keeping an eye on Rightmove and the agent said they would let us know but nothing yet. I’m assuming even with Christmas, a month in, the survey and valuation would have been done now though and if it was going to fall through, it would.
When do sales that don’t proceed normally fall down, and when are survey reports/valuations normally done after offer?