How will it take to get to the exchange point based on this?

[Eggybreadwithnuts]

Our buyers are first time buyers
Shown all documentation needed by estate agents
Both of us using same solicitors
Their Survey has been done on our property last week, seemed ok fella was there 15mins and say all fine

Is it the searches next? That their solicitors raise?

Asking as we are buying a new build with the money from sale of house, no mortgage. New build not ready till Autumn but thats fine as can find elsewhere to stay until

New build say after accepting us they need a 10% deposit 6 weeks after abd would be happy for us to purchase as long as at or nearing exchange

Hence the need to find out roughly what happens now with our sale etc.

Ask your solicitor. On here we can only guess and experience will vary.

My DS survey was early December. No survey issues. Searches started after survey. Exchange end of March. Chain of 3.

My DD survey just before Christmas. Survey issues requiring costs and a bit of renegotiation. Searches started after survey results whilst costing were being obtained. Exchange first week of March. Chain of 3.

Yes going to check in with them tomorrow. Just hoping house builder alliw us to proceed

In my experience it’s totally random. Our first purchase (us first time buyers, buying from a landlord, vacant possession!) took longer than both our subsequent purchases which both had a chain of 3.

First time buyers are notorious for being nervous and questioning everything ( fair enough) which could take longer.

I would have a significant issue with using the same solicitor as your buyer. This is a potential conflict of interest.

Their surveyor was only there 15 minutes? A survey usually lasts from 1 hour to a whole day depending on the level and property size etc...

Anyway it impossible to say, we where first time cash buyers and first house fell through after 6 months (seller decided didn't really want to sell), 2nd fell through after a year (probate issues and repossession) and the one we bought went through in 3.5 months.

First week was appointing solicitor and getting memorandum
2nd was all the paperwork stuff
Then in our particular case I lost a fortnight or so to me figuring out the paper trail for proof of funds for the anti-money laundering stuff (as a cash buyer).
The main wait then was the searches, it quotes 12 working days online but took over 2 months for some reason (although it was April and everywhere closed for Easter and may bank holiday etc... but still a long time).
Took 1 week for enquires after the searches where back
Then a date was set 1 week later for completion and exchange (that week felt like it lasted forever as we where ready to go).

I would be most upset paying anywhere from 600 quid to 3000 for a surveyor to be there 15 mins. Are you sure that wasn't the mortgage valuation?

It's impossible to tell.
Some sales take months some go through much quicker. You wed to talk to your solicitor who will be able to give you some idea but no more than that

Same solicitor, different branches

These seem to be pushing to get it done and dusted

They called it a survey and were reporting back to the mortgage people.

Yes will speak to solicitor. Doubt we will be able to move forward with the new build. If its meant to be it's meant to be.

It will also depend on how the new builds are selling. If they aren’t moving quickly, the developer might be flexible.

I would still have an issue with that.

Solicitors dont have an issue, buyers dont have an issue, estate agents dont have an issue...they in fact suggested it to them.

In fact in solictors best interests to move along as double payment for them 😀

So nothing illegal there or clash of interests

I didn't say it's illegal, I said it created a conflict of interest. The choice of solicitor has nothing whatsoever to do with the estate agent. If the other branch cocks something up, your branch may have difficulty being open about it.

OP, I'm not sure why you asked a question here. All your responses ( to perfectly reasonable queries, comments or concerns) are " Yes, but...."

Yep. How long is a piece of string? Good luck.

Anyone reporting back to the mortgage provider (bank) is doing a mortgage valuation. Is the house worth what it is being sold for etc and how much would it cost to rebuild it. A survey is completely independent to the mortgage valuation, the survey is also optional. It’s to provide the buyer with a report on the condition of the house.

We are 2 months down the line, post surveys etc, and still waiting for local authority searches for all the houses in the chain of 3. The local searches have taken over 30 days and counting 😒