Info on a Property

leeegglestone

Ive been looking at this Property and wondering what does
'New Instruction' mean

http://www.bennettclarke.co.uk/property_detail.asp?propid=443321

Do u think that the property has a fixed price

I am a first time buyer, well i wouldnt call myself a buyer yet. Just came across this and seems to suit my budget, not too far from where I live, only few more miles to work etc

What other things should I consider about this property or any other as a matter of fact

How can i see if the area it is in, if the values are likely to increase. Have a friend who lives in newton aycliffe so will ask her what that area is like.

Im gonna email them & ask what the local council tax rate would be,if any rooms are furnished. anything else??

I dont know much about buying.
Im the kind of person who likes to know before going any further, exactly what I can afford etc and budget all possible outgoings.

I only get paid £15K a year and live with my parents. I have no outstanding debts,credit card is paid in full each month and no car loan. I do have my regular monthly spends and what i predict i think i would need to spend if i had my own place in a spreadsheet to keep me right.

Not looked at mortgages yet and if I could get one.
On mortgage calculators they ask for your monthly income+outgoings. In my case should I not be putting what I think i would have 2 be paying a month to keep all the bills paid. or just what I spend now, silly question I know, but wouldnt want to put anything to chance. A novice like I say

mummytofour

Well its a flat so the chances are its lease hold so you will have to pay to matain the block, this could be anything from £20 pcm to well over £100 pcm so make sure you check this out, also is there a sinking fund for majour works? Are any majour works to be doen soonish ( friends had to pay an extra 1k as the block was painted, there were 46 flats in the block and the cost to pain windows doors and hallways was 46k!!!!!!!!!!)

For the morgage check https://www.lcplc.co.uk they are fab and are a whole of market broker ( this is what you want)
New instruction means it has just gone on the market.

Good luck

leeegglestone

Even if u buy the property u still have to pay to maintain the block? I definitely didnt know about that

Ha suppose i wouldnt mind if they cleaned the flat aswell lol

Doozergirl

The link doesn't seem to like me but rooms are not furnished. A flat would be completely empty, even of carpets and lightshades unless you ask for them to be included. Items like white goods, sofa, beds you could negotiate on individually once you have both agreed on a purchase price for the property.

Ian_W

Hi leeegglestone,
Service charge might well include cleaning - of communal areas!! [Doing your own cleaning is one of the pleasures of growing up and leaving home!] As well gardening, window cleaning and buildings insurance may be included. EA should be able to tell you how much it is, and any ground rent payable.

Is the price fixed? No such animal in England & Wales, apparently quite a rare wee beastie in Jockland by recent accounts. There's the asking price and the selling price, difference between the 2 is decided by negotiation. Sometimes they're the same, sometimes props sell for a lot less than the asking price, in a bouyant market [not now!] they can even sell above the original AP if several people want to buy.

You should have a read of the mortgage section of the site and use some of the comparison links to find out how much you could borrow and how much the repayments would be. Also suggest you try to learn from parents, family & friends who've experience of buying, mortgages etc.

BoL.

socks_uk

leeegglestone wrote:

Ive been looking at this Property and wondering what does
'New Instruction' mean

As far as I've worked out, 'New Instruction' means that the seller has literally given new instructions to the estate agents. It might be that it's new to the market or the sellers have 'instructed' the EA to amend the property details, usually to reduce the price.

Someone will correct me if I'm wrong, I'm new to the house buying & selling game.

Jill

Ivrytwr3

My father lives in Newton Aycliffe and it is a very, very rough place! Not just certain areas, ALL of it!! Drugs, fights etc. However, you may be one of that type of crowd and love it!!!

I remember meeting a girl up there and ringing the buzzer to her flat, some thug yells down from the next flat, "!!!!!! do you want?" I said i was here to meet someone. "F*** Off before i come down there and leather you".

LOL!!!!!

On a plus side, like i say my dad lives there and has for many years and as a local he has had no trouble at all.

Ian_W

Ivrytwr3 wrote: I remember meeting a girl up there and ringing the buzzer to her flat, some thug yells down from the next flat, "!!!!!! do you want?" I said i was here to meet someone. "F*** Off before i come down there and leather you".

Take it it didn't work out then? :rotfl:

Jill,
I've never personally seen "new instruction" refer to a price reduction. Usually means it's just come on the market OR it's been on the market with another agent, who couldn't sell it, so the vendors have sacked them and instructed another EA to try to sell it.

leeegglestone

Oh gosh, well does anyone know what the area of Aycliffe is like that this Flat is in lol

Ivrytwr3

i can't even find it on MS Autoroute 2006. Also my dad is away for the week, but as soon as he gets back i'll ask him if he know the place.

sarah_elton

This site has a guide on the whole buying process, which is really useful:

http://www.themovechannel.com/howto/buy/

I posted recently here, on the costs of buying which you need to have money for:

http://forums.moneysavingexpert.com/showthread.html?t=139361

The only way to really tell what a place is worth, is to watch the local market for a few months at least. Watch all the properties for sale on Rightmove, and check completed prices (what they actually sold for, not their asking price).