Diary of a House Search

lessonlearned

Take a note book.

I also keep a file of properties I have viewed. I have a pre-typed checklist. You clued up techno savvy young ones will probably be able to do a spreadsheet on your smart-phones. Me - I'm a technophobe. I stick with a ball point pen:rotfl::rotfl:

So here is how to view a property and some pointers to look for.

Property 1.

1 bed third floor apartment (top floor)
Purpose built complex. Constructed early 1970's
Vendor viewing

"Let's Do The Time Warp Again" :rotfl::rotfl:

I know this complex well. I rented a studio there in 1975 when I was young, free and single.

The complex has stood the test of time well. Has a janitor living on site.

Last week I viewed a 2 bed flat. Today was a 1 bedder. I have now viewed all house types on this complex.

Location

Approx 2 miles from city centre. Excellent, highly sought after, close to good transport links, 5 min walk to a lovely park. Quiet, no excess traffic noise.

Outside

Communal Gardens and Landscaping - Good, mature shrubs, neat and well maintained, no litter.

Communal entrance areas - Good. Clean, Well maintained, no unpleasant odours.

Parking - limited, no specially designated parking.

Living accommodation

Bathroom & Kitchen - Pure vintage 70's - green bathroom suite
Full replacement required.
Floorings - Full replacement.
Decor - Poor - get the wallpaper strippers out.
Heating - gas fired warm air heating, electric immerser
Storage - excellent


Red Flags - De-humidifier in bedroom, mould on bedroom window.
Vendor volunteered information issues with condensation. No cavity wall insulation.

The wardrobe which abuts onto the outside wall will be worse than useless.

Refurb budget £5k plus whatever damp nasties might be lurking.

Rental potential - good

Resale potential - limited

Running costs

Council Tax Band A
Maintenance Charges - currently approx £1k per annum

Verdict

Generally a good investment.

Pros - location, good views, overall condition is fair
Cons - issues with condensation, antiquated heating system, no gas for cooking or potential gas fire
Potential to develop and improve - limited.

Vendor

In residence.

A highly motivated seller.
He is a single male, just turned 50. Sad lonely man. Has serious debt issues.

Action - no further information required.

Property 2

2 bed ground floor apartment in a purpose built complex. Constructed approx 1990's. Needs to be confirmed.

Location - City Centre - Excellent - currently highly fashionable. Close promixity to cultural centres, shops, bars, restaurants.

Outside

Parking - 1 designated parking space, limited visitor parking.

Communal gardens - Average. Landscaping is disappointing, planting is sparse. Some litter.

Communal Entrance - Secure entry. Shabby foyer. No smell.

Living Accommodation - A beige blank canvas.

Kitchen - dated but ok. Replace door fronts and retile.
Bathroom - good - modern white sanitary ware, clean tiles.
Floorings - good, laminate throughout - no work reqd.
Heating - Full gas central heating & water, modern gas fire to lounge, gas cooker.
Storage - good.

Red flags - slight cracking on a couple of ceilings

Rental potential - excellent
Resale potential - good

Running Costs

Council Tax TBA
Maintenance - £85 per week

Verdict

A good investment.

Pros - location, overall condition very good, good parking, modern heating system with good quality boiler.

Cons - shabby communal areas.

Potential to develop and improve. Good.

Short term - redecoration required. Box in pipes, emulsion throughout, upgrade lighting. Tidy up kitchen, replace gas fire.

Long term - depending on any restrictive covenants in place. Suggest - remove wall between lounge and kitchen. Replace lounge window with French doors.

Refurbishment budget - £1k excluding structural work and cost of French doors.

Vendor

Motivated Seller. Not in residence. Has owned property since new. Wants to move into a retirement complex.

EA - Punctual, affable and knowledgable. Works weekends.

Further Action - Second viewing required. Clarification of restrictive convents, council tax and what sound proofing method have been used.

So there you have it - how to compile a checklist, what to look for and how to assess what you have seen.

Hope that proves helpful. I won't be writing this up for you for each of my viewings.

This is a one off freebie.......

I have asked the EA who showed me around to do 3 things.

1. Ring me to book a second viewing for next weekend, so that DS2 can take a look. It's for him after all.
2. Find out information regarding any restrictive covenants, council tax, and what kind of sound insulation has been used in the building's construction.
3. Arrange for their inhouse finance guy to call me for an appt to discuss mortgages with my sons.

This agent now has the potential of

1. A possible sale.
2. A good referral with their inhouse Finance to discuss 2 mortgages.
3. A possible commercial/development loan.

Let's see how good she is.........

moneyistooshorttomention

jibbyboo wrote: »

Am I correct in thinking EAs (or vendor if nec) have a legal obligation to answer any qs they are asked? If so, would this include ceiling prices on the specific property given changes you would consider making?

If ceiling prices were quoted that would be some delighted vendors - me for instance.

I've been checking out average 2 bed house prices for my location as a whole this morning and found its c. £171,000 and ones for my particular little area and found its £193,000.

Roll up...roll up everyone....bargain of a lifetime here then...as I've got mine on for £175,000 in my (somewhat dearer) area...:rotfl:

EDIT: Just read the comment re a vendor on one of those properties lessonlearned and seen another reason to be out when viewers turn up....LOL. I'm wondering whether they'd be assessing me as well as my house. I suspect the verdict would be "Wonder if she's some sort of academic or hippy or something - maybe her mind is on 'other things' and we can go for the financial jugular here?...."Anyone less likely to accept that than me would be difficult to find.......LOL...

phoebe1989seb

Regarding the attitude of some EAs - when we were selling (in Essex) and buying (looking across the Southern counties) two years ago, we had a few day trips down to the areas we were looking at to view potential purchases. This usually involved a 300 mike round trip, but as our families were living in Hampshire anyway where possible we would combine our viewing trips with visits to parents.

One particular day we arranged to view three houses - one in West Sussex and two in Hampshire. We'd called the respective EAs a couple of days before to make arrangements to view and one of the EAs said she was unable to get hold of the vendor. The house was a very interesting proposition but had already been on the market for over two years - mainly we thought 'cos the 100' garden backed onto a railway line.

We drove down anyway as we ad the two other houses to view and during the journey we liaised with the EA regarding the third house, but despite apparent numerous attempts she was still unable to contact the vendor. In the end she came to the conclusion they'd gone on holiday and neither informed the EA nor left keys with them. We stressed how interested we were and she promised to get back to us when she'd succeeded in locating the vendor, but we never heard from her again. Within a few days we found the house we wanted to buy (different EA, different county) so didn't pursue it........

Two years later it's still for sale :eek:

Of course I guess the vendor was not that serious about selling, but even so the EA was lacking in motivation to say the least

Kynthia

I viewed over 30 properties last year and what suprised me was that over half didn't have boards up. I thought it strange as they were missing passing trade and made it harder for viewers to find them. I wonder whether EAs had taken the time to explain the benefits of a 'for sale' sign.

Also when I put in offers, the EA didn't always get back to me to tell me the response and I had to chase them days later. Also they never came back to me to negoitate and see whether I could up my offer. Dissapointing.

lessonlearned

Excited13 wrote: »

One EA told me I was stupid to be looking to buy such a big property and I should look at a 2 bed flat. I'm sorry but it's my money and there are numerous reasons why I was looking at certain properties. I've lived in so many properties in the last 7 years I wanted something long term that could cope with a family or the needs of my family if they came to see.

Thank you Lesson for starting this thread I'm really enjoying all your stories about your previous career and current experiences.

The cheeky beggars.......

It is not their place to tell what you kind of property to buy.

If you are fortunate enough to be in position to buy a larger property and thus "future proof" your living arrangements then good for you. It means you won't "have to" move unless you want to.

Glad you have found what you wanted. And....It's good to see that you are happy with your EA.

It would appear that we good ones are as rare as hen's teeth:rotfl::rotfl:

lessonlearned

moneyistooshorttomention wrote: »

EDIT: Just read the comment re a vendor on one of those properties lessonlearned and seen another reason to be out when viewers turn up....LOL. I'm wondering whether they'd be assessing me as well as my house. I suspect the verdict would be "Wonder if she's some sort of academic or hippy or something - maybe her mind is on 'other things' and we can go for the financial jugular here?...."Anyone less likely to accept that than me would be difficult to find.......LOL...

Trust me you don't even have to be in the property to be assessed!!! Of course you are being judged. The minute we allow people into our private space they start to pass judgements, on us, on how we live.

This is one of the reasons why it is suggested that you de-clutter some of your most personal items, ie photos, memorabilia, those tacky seaside ornaments, those oh so charming drawings your kids have done which you so proudly display, the plethora of cuddly toys, that God awful vase your Aunt Mildred bought you - you get the idea.

I am currently trying to get a viewing for a redevelopment project, You may remember I posted it up on the "Look at this thread". One of the wags christened it "The mad cat lady's house".

Now get this - I was telling my sister yesterday how frustrated I was with the agent for not arranging a viewing.

Well - it transpires that my sister sort of knows this lady - she is a frequent customer in her shop.

Guess what - she is a mad cat lady.!!!!! She is totally obsessed with her cats, her poor husband is a poor miserable half forgotten soul whom she totally ignores.

I said to my sister, ever so politely, that, judging from the pictures of her property, that the lady in question appeared to be slightly eccentric.

My sister just roared with laughter. "Eccentric" she snorted,"is putting it mildly, the poor woman is totally off her rocker"

So there you go - whether you are present or not you will be assessed. ;)

PS Just edited to comment on my remarks about the man I mentioned in my buyers report.

He was a very nice man and I felt very sorry for him. He volunteered the information that he had debt issues. I didn't just take a look at his shabby apartment and hazard a guess. For all I knew he could have been an eccentric millionaire.

Sad and lonely - yes he was desperate to talk. I got the impression that he had lost his job and therefore not only was money a problem but that he wasn't getting much human contact.

He lived in a one bedroomed apartment, the furnishings of which screamed long term bachelor. I knew he was just turned 50 because there was a large badge on the wall declaring "I am 50". There was a large crucifix on the wall, so he was obviously a spiritual man. There were lots of little giveaways if you cared to look.

He volunteered information about the damp, the condensation etc - I didn't need to press him. He showed me inside his wardrobe, inside his kitchen cupboards. I can tell you what food he likes, his favourite colours are green and brown and most of his clothes are navy or black.

He had one of those "Don't forget Madeleine McCann posters" on the wall. I'm not sure what to make of that. He struck me as the kind of person who was a campaigner - there were a lot of leaflets and posters around, especially church stuff so perhaps he has been involved with the Maddie campaign.

As I say I felt sorry for him. He clearly needs to sell. I asked him where he thought he might be moving to and he answered me so quietly and sadly. He said "I don't know yet, I really don't know". I asked him how long he had lived there and he said 15 years. I got the distinct feeling that moving house was the last thing he wanted, which is why I felt so sorry for him.

Assessing people was part of my job. And anyway, I genuinely just like people. I like talking to people and being friendly. Generally most people respond very well - sometimes too well. I often get people telling me their life stories without any prompting from me.

I do hope this poor man manages to sell his property - it's been on the market since October - again he volunteered the information. I hope he gets a fair price.

It's not for me but hopefully someone will love it just as much as he does.

googler

jibbyboo wrote: »

Am I correct in thinking EAs (or vendor if nec) have a legal obligation to answer any qs they are asked?

If so, would this include ceiling prices on the specific property given changes you would consider making?

EAs are bound by legislation such that any statements they make about certain prescribed matters in relation to a property must be true statements, to the best of their ability. However, the Govt has plans to change the legislation.

Private sellers aren't bound by this and can tell a buyer anything.

I'm not sure I get your second question.

lessonlearned

Jibbyboo - I think - I think what you mean is can you ask the EA what would the ceiling price be if you made certain changes. Have I got that right.

If so then you can ask the EA but their answer can only be in the most general and vaguest of terms. They would not be able to give you a true valuation on proposed changes. They can only do this when they see the completed works. The Vendor generally wouldn't have a clue, unless of course they had a keen interest in property development.;)

I apologise if I have misunderstood your question.

jibbyboo

That is exactly what I was asking lessonlearned, thank you

About to draft an email to the EA of the house where they refused to turn on the heating with some questions and the following: "I would need assurance before placing an offer that the heating and boiler were in full working order- given the EA's response that there would be a considerable gas bill to test the heating during my viewing, I am led to the conclusion that there may be a significant issue here".

Take that EA!

lessonlearned

jibbyboo wrote: »

That is exactly what I was asking lessonlearned, thank you

About to draft an email to the EA of the house where they refused to turn on the heating with some questions and the following: "I would need assurance before placing an offer that the heating and boiler were in full working order- given the EA's response that there would be a considerable gas bill to test the heating during my viewing, I am led to the conclusion that there may be a significant issue here".

Take that EA!

Nicely done.