Delay in completion

[chaton20]

Hi,

I am selling and buying at the moment as was supposed to complete over 1 week ago. There is a delay with the sale of my current house and i need the equity to complete on house i am buying. There are clauses in both contracts subject to finance etc.

It seems the issue is that the bank required the survey because house is over 100 years old and now they wanted estimates from the surveyor (not sure on what). These were provided recently i believe but i'm still waiting and waiting. The buyer and solicitors don't seem to worried but i'm so worried it's all going to fall through.

Has anybody else come across this before where banks fail to loan on a house because of surveyors survey and estimates? There is nothing major wrong with the house and it's structurally sound. Perhaps it could do with updating only (new windows etc).

Thanks in advance

 

[RedOnion]

Buyers are probably borrowing enough for renovation as well, so need estimates before bank will lend. They really should have known about it before now.
Delays are very common unfortunately.

 

[chaton20]

Maybe that's the case but i think this only was all brought up when their solicitor went to drawdown a few days before closing. Their solicitor says it's nothing serious anyway. I would love to see the survey. I think he must have been very detailed. I'm hoping it's just the bank ticking boxes.