We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Buying a house that has not been advertised.
Harryx
Posts: 4 Newbie
Hello
I have agreed to purchase a house, the seller has not yet advertised it and now that I have agreed to buy it he is not going to.
I take it I need to get a solicitor to deal with the purchase ?
I will also need to get a survey done ?
The house is £100,000 so I won't need to pay stamp duty ?
Is there anything else I need to do, or can anyone give me any other relevant advice ?
Many thanks
Harry,
I have agreed to purchase a house, the seller has not yet advertised it and now that I have agreed to buy it he is not going to.
I take it I need to get a solicitor to deal with the purchase ?
I will also need to get a survey done ?
The house is £100,000 so I won't need to pay stamp duty ?
Is there anything else I need to do, or can anyone give me any other relevant advice ?
Many thanks
Harry,
0
Comments
-
He hasn't advertised it, so he does not need to have a HIP.
He hasn't advertised it, but he DOES have to provide an EPC.
You need to find a solicitor and see a whole of market mortgage broker to get you a mortgage. Once you apply for a mortgage the mortgage company will appoint a surveyor to go and look at it, you'll get a choice of what sort of survey you want them to do.
Next, the surveyor tells the mortgage company how much they think the house is worth, resulting in a mortgage offer from the lender.0 -
Great, thanks for your help.0
-
I take it I need to get a solicitor to deal with the purchase ? Unless you decide to do the conveyancing yourself. but given the questions you've asked, I suspect you would not know how.
I will also need to get a survey done ? Your choice. Depends on the age/condition of the house, your ability to spot problems yourself, etc etc
The house is £100,000 so I won't need to pay stamp duty ? Correct. See here.
Is there anything else I need to do, or can anyone give me any other relevant advice ? The process is really exactly the same as if he'd advertised it except there'll probobly be no HIP - no great loss there.
Do you need a mortgage? If so get independant advice, don't just wonder into your bank.0 -
Thanks G_M.
Yes I need a mortgage, I have a 10% deposit but not sure if that is enough these days. I haven't done any looking at mortgages yet.0 -
I would look to get a bigger deposit together, you will probably find a 90% mortgage but the rate will be rubbish.:jProud mummy to a beautiful baby girl born 22/12/11 :j0
-
Thanks Sammy, I may be able to get to around 15% but getting to 20% will be difficult.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards