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Step 10 - The waiting game. |
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Take a deep breath and relax, you've earned it. The pace slows a little now as you wait for your legal team to do some of the work. For the next six weeks, sometimes less and sometimes more, your conveyancer or lawyer will make enquiries about the property. Survey and drainage diagrams will be examined, government departments will be written to, heritage orders will be inspected and council checks will be performed.
In other words, the work is usually out of your hands. A kind vendor may grant you additional time if you are having difficulty meeting the agreed deadline but don't count on it. The chances are that the property is also costing them money (through their own mortgage repayments or lost interest) and they are under no obligation to give you more time.This is the time when buyers and vendors usually get an attack of the jitters. Buyers keep their fingers crossed that everything about the property will be fine and run according to the schedule and the vendor is praying that the sale goes ahead and they can get their hands on cash.
