House Buying - Moneysaving Tips

rodroc

Thanks for sharing all of this information. I really believe that it is helpful and that it will give people who are looking to buy a new home, some great ideas.

JenniferJuniper_2

I am currently in the early stages of purchasing a property. I offered the asking price for the property (eventually) as there were two other interested parties and I wanted to secure the property. I obviously offered the asking price subject to satisfactory survey - the Estate Agents stated that they would only re-negotiate the price if I obtained a survey via the Mortgage company's chosen surveyor....


I have done this and obtained a Homebuyers report which has identified some areas of 'serious' defects and some less serious. I know would like to approach the vendors estate agents and re-negotiate my offer - When is it best to do this..?? After getting quotes for the work? Or should I approach them sooner rather than later and inform them that it's my intention to get quotes even though I can't at this moment put a figure on what revised Offer I'd like to make..?


Should I forward the Vendors Estate Agent my homebuyers report or am I best just forwarding them extracts from the report in respect of the areas of concern...?


I'm assuming that any contractor I require quotes from will need access to the property to do an inspection - am I better off informing the Vendors Estate Agent of this now even though I haven't got dates for access yet..?


Any advice greatly received, I don't want to loose the property but I also don't want to pay top price when there's work that needs doing that may be costly..


Thanks.

Yorkie1

What does the survey say?

What does it value the property at - the asking price?

I wouldn't send a copy of the whole survey to the EA - there's probably a clause in it somewhere saying not for onward distribution.

JenniferJuniper_2

Thanks Yorkie.


See my other thread posted today entitled "HOMEBUYERS REPORT - what next??" for what the survey says (I tried posting a link but the forum won't let me as I'm a newbie)

The purchase price is £169,950 and the valuation is £167,950.

The surveyor states that the agreed price of £169,950 is reasonable provided that I am prepared to accept the cost and inconvenience of dealing with the various repair/improvement work reported but goes onto suggest that I may wish to renegotiate the purchase price on the basis of the cost of the necessary repairs.

Property_Investor

Below are some tech tips when looking for a place to buy.

The main websites I use are Rightmove and Zoopla, when you register an account with them you can
- set up alerts to receive emails daily when a new property is added to their site with your search criteria (e.g. location, # of bedrooms etc)
- save properties of interest, this helps me navigate to them easier in future.
- add personal notes to the properties, sometimes I save properties to my list because I like the decor, so a personal note may be 'love the kitchen'.

I also register with local estate agents, as they can notify you of new properties on the market before it hits rightmove and zoopla.

If you use both Rightmove and Zoopla I recommend installing Property Form Filler, its a Chrome application, search for it in Google Chrome's webstore.
Its time consuming filling in the search criteria in Rightmove and then you have to fill out the criteria from scratch on Zoopla too.
Property Form Filler aids with pre-populating the search criteria for you using details from your previous search. Essentially its a time saver.