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Starting renovation after exchange?
sg0102
Posts: 150 Forumite
Hi there,
I am looking to buy a house that needs some renovation work (new kitchen diner & bathroom). We also have a young lad, and are expecting a 2nd at Xmas.
I was wondering if theoeretically we would be able to start renvoation work in the property after exchange, but before completion - with a view to minimising the time we have to live through the disruption in the property -and speed up the work itself?
I know chances are we would need a cooperative vendor - she is going into a home and the son is conducting the sale on her behalf - but can anyone advise if this is at all feasible?
Many thanks
Steve
I am looking to buy a house that needs some renovation work (new kitchen diner & bathroom). We also have a young lad, and are expecting a 2nd at Xmas.
I was wondering if theoeretically we would be able to start renvoation work in the property after exchange, but before completion - with a view to minimising the time we have to live through the disruption in the property -and speed up the work itself?
I know chances are we would need a cooperative vendor - she is going into a home and the son is conducting the sale on her behalf - but can anyone advise if this is at all feasible?
Many thanks
Steve
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Comments
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Extremely doubtful as the house isn't yours, although...... we moved 2 weeks ago and our lounge was set up on the Thursday in the new house despite not completing on the Friday!!! We had a very co-operative vendor!! Plus he gave us the keys to the garage and shed!0
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Perfectly feasible - if the vendor agrees. Their solicior may advise them not to though.
I've done this. Deliberately had a long gap between Exchange/Completion so that I could not only start, but finish, refurbishment before Completion.
It was a BTL so I was able to get new tenants in almost as soon as I'd Completed.
Fitted a new kitchen, installed double glazing, and painted throughout.
Had a written agreement, the only stipulation being that I was not alowed to sleep there, and had to collect/return the keys to EA each morning/evening.0 -
Need a mortgage?
It may be possible, but carefully consider the implications if your mortgage lender wiithdraws your mortgage offer for any reason between exchange and completion.
The situation will be difficult enough to deal with without you having to return the property to its original condition.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Oh, I was watching Home Purchase Chain the other day with Kirsty Allsop. There was an absolutely outrageous case on there. The purchaser hadnt even EXCHANGED. The vendors lived abroad so the EA was handling the sale. They had, with permission, given the prospective purchaser the keys so she could 'measure up'. Somehow, she ended up keeping the keys and during the course of the program, she repainted several rooms, ripped up a patch of garden, laid a concrete foundation and put a 'wendy house' on it and also ripped off some doors and replaced them with her items. It all went through in the end, but if I had been the vendor, I'd have sued her!
BTW, I was waiting for it all to fall through on the program, now THAT would have been fun to watch.Debt Free! Long road, but we did it
Meet my best friend : YNAB (you need a budget)
My other best friend is a filofax.
Do or do not, there is no try....Yoda.
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you also need to think about insurance. Say you let them in early to paint a room and while doing it the wall fell down (not going to happen but you never know). I wouldn't let anyone in my home until it's their home.0
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Why not have less time between exchange and completion say a day or 2,, that way not losing any time...0
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Far more effective not to have exchanged and put it back on the market with several rooms done up for free.Oh, I was watching Home Purchase Chain the other day with Kirsty Allsop. There was an absolutely outrageous case on there. The purchaser hadnt even EXCHANGED. The vendors lived abroad so the EA was handling the sale. They had, with permission, given the prospective purchaser the keys so she could 'measure up'. Somehow, she ended up keeping the keys and during the course of the program, she repainted several rooms, ripped up a patch of garden, laid a concrete foundation and put a 'wendy house' on it and also ripped off some doors and replaced them with her items. It all went through in the end, but if I had been the vendor, I'd have sued her!Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Thanks all.
G_M - that's exactly what I'd love to be able to do. It's as much about not having to live through the disruption (wth a young child) as the pace of getting it done.
We'll see - we haven't sold ours yet so it all hypothetical! But good o know t is a possibility with a very understanding vendor.0 -
I'd let you cut the grass and paint the outside.... wouldn't let you inside at all... too risky.0
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When we moved last year old vendors (who weren't living in the house as they'd already bought another) let us have the keys before completion in order to start ripping some stuff out and moving things in, especially in the large garden.....we had a hot tub to accomodate, lol! The house was bought as a half-finished project - tbh apart from new thatch and heating, not much had been done
- and we weren't getting a mortgage, so no worries about mortgage co etc, plus we made sure our insurers were informed. We didn't ask for the keys, they just very kindly offered 
Not sure if I'd have been so accommodating with our buyers though! Mortgage-free for fourteen years!
Over £40,000 mis-sold PPI reclaimed0
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