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Buying flat from family, advice needed.
neilmcm
Posts: 2 Newbie
Hi everyone,
I'm looking for a bit of advice with purchasing and selling of a flat.
Me and my girlfriend have been renting a flat owned by her grand parents for a while now and they have offered us the chance to buy it from them. We have the deposit and salaries required to get a mortgage however both us and the grand parents are unsure of what sort of process we would need to go through since we will not be using an estate agent.
Ideally I am looking for a checklist of things that we (buyer) would need to do and also a list of things they (seller) would need to do.
Thanks in advanced.
Neil
I'm looking for a bit of advice with purchasing and selling of a flat.
Me and my girlfriend have been renting a flat owned by her grand parents for a while now and they have offered us the chance to buy it from them. We have the deposit and salaries required to get a mortgage however both us and the grand parents are unsure of what sort of process we would need to go through since we will not be using an estate agent.
Ideally I am looking for a checklist of things that we (buyer) would need to do and also a list of things they (seller) would need to do.
Thanks in advanced.
Neil
0
Comments
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you both need to find an independant solicitors (i'm presuming its mortgage free),
one of you will need to get a survey done on the flat - the mortgage company will not release the funds without one
do you have an AIP in place from the mortgage company?0 -
The flat currently has no mortgage on it. We have an AIP iwth bank of scotland in place.0
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You don't need estate agents, your solicitors can handle everything.
If you are unsure of the value look online to see what similar flats are selling for.
Good luckI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0
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