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Is this normal? Buyer holding things up.

We have a buyer for our house and we have had an offer accepted on the house we are buying, everything is ready to exchange on the purchase (no onward chain), however we found out yesterday that our buyer (who is a cash investment buyer) has not even paid his solicitors their initial fee or had searches started, they have said that they wanted to have survey done first and check that before anything else. I am now panicking and feeling a bit helpless as we had hoped to complete by end of June. I am wondering if this is normal? It all just seems to be a bit odd, because our house we are selling is a new build only 6 years old, so I'm not sure why our buyer is so concerned about the survey and why he hasn't at least told his solicitors to start searches. Any help appreciated. Thanks

Asked on Jun 15 2013, Selling in Basingstoke | Report content

Answers (1)

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  • Hi, This does sometimes happen, however, as a "Cash investment buyer" the survey should have been very quick as they are not relying on a motgage company to instruct a survey. If they have not already placed money on account for the searches or instructed the solcitor it would be my advise to speak with your agent to look at possible remarketing.

    Answered on Aug 9 2013, Report content

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