Diary of a House Search

lessonlearned

RayKay wrote: »

Thanks LL. Yes, there's a small garden for BabyKay Due date is 4th May, so not long now... Yes, very busy times ahead!

Sorry to hear your mum's next move will likely be a nursing home. Good luck finding your own project.

Any update today on your DSs property?

Solicitors and brokers instructed yesterday. Just awaiting legal pack and survey date. The EA was quite taken aback yesterday because I was able to ring her early in the morning to tell her what I had already done.

I haven't let on to her yet about my 30 years experience.......

DS2 is thoroughly over-excited!!!! He's choosing paint colours already.:D

GreatBigBookcase

lessonlearned wrote: »

Solicitors and brokers instructed yesterday. Just awaiting legal pack and survey date. The EA was quite taken aback yesterday because I was able to ring her early in the morning to tell her what I had already done.

I haven't let on to her yet about my 30 years experience.......

DS2 is thoroughly over-excited!!!! He's choosing paint colours already.:D

Great news everything's getting sorted.

I am exactly like your DS2...my kitchen is all planned in my head already!

lessonlearned

Since my last post when I told you about our how our offer had been accepted on our new house I have had a couple of pm's asking for advice.

So as well as answering those - hope I was of some help - I have decided to post a few tips. Hopefully this will point those of you who are floundering a little in the right direction.

Speed is of the essence.

Several of you have commented on how quickly I have got things done this week. There is a very good reason for this.

The shorter the time between making an offer which is accepted and the day you exchange contracts the better. So many things can go wrong. You must do everything you can to get the ball rolling asap and keep up the momentum.

1. Before you make an offer have your finances in place, deposits on easy access and have an AIP (Advance in Principle). Contact a solicitor and ask for quotes.

Be aware that some lenders will be "picky" about which solicitors they will and will not use. If in doubt ask them who they recommend.

2. As soon as your offer is accepted - get cracking. Instruct your solicitor and your lender or broker immediately. Pay any upfront fees required immediately.

These will normally be your survey fee to the lender and an upfront payment to your solicitor to cover the search fees.

3. It is tempting to delay applying for searches until you are happy with the survey result so as not to risk losing money.

I have to say that I think this is inadvisable. Yes it is possible you could lose out financially if the survey is dire and you need to withdraw from your purchase. However, searches can take several weeks and it is better to apply for them earlier rather than later in the proceedings.

4. Solicitors and lenders will not give instructions for searches and surveys until they have cleared funds in their sweaty little palms so it is better to pay for these either with a debit or credit card. Personal cheques can take several days to clear.

Surveys

I am not going to tell you which type of survey you should pay for ie whether you should go for a Homebuyer's Report or for the Full Monty - that's up to you. It will depend on the age of the property and how confident you are.

I have just gone for the Full Monty because of the age of the property and because of it's general neglect and lack of care over the last few years.

Poor Surveys and Re-Negotiating the Price

If the survey does throw up some nasty surprises then you may have some ammunition to re-negotiate the price.

However and this is a big however. You can only do this when the survey flags up that serious remedial works are urgently required.

You cannot renegotiate for works that are classed as "nice to haves" ie a new kitchen when the one in situ is deemed adequate and functional or a nice new white bathroom suite to replace the avocado 70's throwback.

A word about surveys in general.

They will not advise about the condition of the boiler, the central heating system or the state of the electrics. Only a gas safety engineer or a certified electrician can pronounce judgement on their condition.

A word about boilers, gas fires and any other gas appliances.

A gas safety test is not the same as a full service. A safety check takes about 10 minutes and ensures that an appliance is safe to use. It doen't mean that it is working at optimum efficiency.

A full boiler service entails stripping the boiler, cleaning and then replacing any worn or damaged parts. It takes around an hour.

It is perfectly possible that a gas boiler can have passed it's safety checks and then promptly breaks within days of you moving in. You will have no legal redress when this happens and it is wise therefore that you ensure that you get any gas appliances serviced soon after you move in.

Vendors Taking the House Off The Market

Some Vendors will agree to taking the house off the market once your offer has been accepted, unfortunately some won't. This is usually the case when a Vendor has been badly bitten in the past. Some will insist on waiting until a survey has been carried out, some will wait even longer until the survey results are through.

In such cases the EA should still change the Rightmove listing and any other marketing materials to read STC (Sold Subject to Contract).

You can of course offer to pay a small deposit or "reservation fee". However, there is no real basis in conveyancing law for this. It would be purely optional.

Which brings me back to my original point. Speed really is of the essence. Do all you can to speed things up and keep your purchase on track. The fewer delays, the fewer are the opportunities for it all to go pear shaped.

Progressing the Sale

Yes I know this is the EA's job and you will probably find that if you are in a chain you will not be able to speak to people who are further down or further up the chain. However you can speak to your Vendors EA, your own broker or lender and your own Solicitor.

Please do so - at least once a week. Do not rely on them phoning you with updates - you need to chase them.

Today after organising our survey and paying our upfront fees to our solicitor I then informed each party concerned as to what stage we are now at.

You don't need to speak to the solicitor - he or she will be busy and will not care for interruptions. You can keep their secretary or assistant up to date. E-mails will do, but sometimes it's a good idea to make voice contact every so often so that you can ask questions.

I find a simple "Is there anything you need me to do at this stage" works wonders.

Keep a diary or checklist of what is happening and when, and what needs to be done and when, what has to be paid and when so that you can ensure funds are in the right account at the right time.

It sounds like a lot of work but it really does help to keep things moving along.

Hope that's useful for the newbies........

jibbyboo

Extremely thank you.

lessonlearned

Oh dear - you really don't like the human race do you:rotfl::rotfl:

Perhaps you had better find an isolated hut somewhere and become a hermit........

Seriously not all EA's are sleazebags. Honest. Some of us are quite human. I don't have horns or a forked tail - at least not last time I looked.

As for your comment about "disgusting databases" A distinct case of over-egging the pudding here. A data base is simply an inanimate object so can hardly be called "disgusting".

Of course data bases can be put to dubious uses - and not just by EA's .......However, they are just technology - pretty much like any other kind of technology, open to abuse.

Not only do you sound like a misanthrope you are displaying Luddite tendencies too. You certainly don't sound at ease with the modern world.

Not sure of your gender but perhaps a career as a Trappist Monk or a Carmelite Nun would suit you best;)

Davesnave

lessonlearned wrote: »

Not sure of your gender but perhaps a career as a Trappist Monk or a Carmelite Nun would suit you best;)

:rotfl::rotfl::rotfl:
They'd still have to get on with the other monks or nuns, though.

How about being a hermit? Here are some British ones for inspiration

British hermits: a history
Richard Rolle, 1290-1349
A Christian recluse who lived in isolation in Yorkshire and wrote The Fire of Love, including descriptions of the music he'd hear in his head when he sang psalms.
Roger Crab, 1621-1680
After being sentenced to death by Cromwell for being an "agitator", Crab was reprieved. He then gave all his money to the poor, gave up meat and alcohol and lived a life of solitude near Uxbridge. Locals came to him for prophecies.
Henry Cavendish, 1731-1810
Any of his servants who acknowledged him were dismissed. As well as disliking company, Cavendish was a brilliant scientist.
The 5th Duke of Portland, 1800-1879
An eccentric who did not like being outdoors and had 15 miles of tunnels built beneath his home, Welbeck Abbey, so he could get about without being seen.
James Lucas, 1813-1874
After his mother died he had her corpse embalmed and refused to let it be buried, barricading himself in his home. The police eventually broke in provoking lasting paranoia. Lucas never left the house again, wearing only a horse-rug and refusing to wash or cut his nails. His body turned grey, then black.
J!zef 'Fred' Stawinoga, 1920-2007
Stawinoga lived in a tent on an island in the Wolverhampton Ring Road for almost 40 years. Local Sikhs came to revere him as a holy man. There is talk of a monument being erected in his honour. HH

Yorkie1

Very useful post, thanks.

I would make a couple of comments on point 1, though:

1. Before you make an offer have your finances in place, deposits on easy access and have an AIP (Advance in Principle). Contact a solicitor and ask for quotes.

Be aware that some lenders will be "picky" about which solicitors they will and will not use. If in doubt ask them who they recommend.

a) I always understood that AIP = Agreement in Principle.

b) You're right to mention the issue of lenders' solicitors panels. I would not ask the lender who they recommend. After all, if you asked HSBC you'd end up with Countrywide ... :eek: Instead, I would ask the solicitor if they were on the panel of my proposed lender.

lessonlearned

Yorkie1 wrote: »

Very useful post, thanks.

I would make a couple of comments on point 1, though:



a) I always understood that AIP = Agreement in Principle.

b) You're right to mention the issue of lenders' solicitors panels. I would not ask the lender who they recommend. After all, if you asked HSBC you'd end up with Countrywide ... :eek: Instead, I would ask the solicitor if they were on the panel of my proposed lender.

Yes that's a good point. I tend to use brokers rather than going straight to the lender so am always happy to ask for the broker's input on this. After all best advice is what I'm paying them for.....

yorkshire_terrier_owner

Davesnave wrote: »

J!zef 'Fred' Stawinoga, 1920-2007
Stawinoga lived in a tent on an island in the Wolverhampton Ring Road for almost 40 years. Local Sikhs came to revere him as a holy man. There is talk of a monument being erected in his honour. HH

I grew up in Wolverhampton and remember him well........ Especially the satellite dish he had attached to his tent although he had no electricity to actually use it to watch TV. Some said Sky put it up for him as a marketing gimmick. He certainly was eccentric and I kid you not, it was a sad day in Wolves when he passed away. We would see him pottering in the middle of the ring road tending the plants!!!

lessonlearned

yorkshire_terrier_owner wrote: »

I grew up in Wolverhampton and remember him well........ Especially the satellite dish he had attached to his tent although he had no electricity to actually use it to watch TV. Some said Sky put it up for him as a marketing gimmick. He certainly was eccentric and I kid you not, it was a sad day in Wolves when he passed away. We would see him pottering in the middle of the ring road tending the plants!!!

I remember reading and hearing about him too, he was quite a much loved local character. And yes he took great pride in tending "his patch".