Buying house question

Flat_Eric

Richard_Webster wrote: »

Get a detailed quote from the estate agents' conveyancers and read ALL the small print and their terms and conditions (and look at their website as well) and then you may find there are lots of extras...

Also don't you feel you want some truly independent advice from a solicitor who isn't involved with the agent and possibly getting a three figure bung from the agent?

Yes as Richard says, get as much info from the estate agent about the costs before you sign anything and investigate what they are offering as much as possible. When my mum sold her house she was sold this "premier service" by her estate agent and they put her in touch with a solicitor. the initial £999 plus VAT commission the estate agent quoted worked out about £1700 plus VAT come the end. This did include some of her legal costs (I think for her sale) but she was hit by unexpected charges by her solicitor who was MILES away, who she never met and who she only spoke to over the phone. It was a complete nightmare and I think her sale/purchase was prolonged because everything had to be done by post. When the documentation came (SDLT form, Transfer, Contract etc) they had so many errors in, most of it had to be sent back for it to be corrected. I would only go with the solicitor the estate agent recommends if it is in the same town as the estate agent and the house you are buying and if you completely happy with the service they are going to provide.

Doozergirl

You have time to find yourselves a good solicitor - you don't need to take one recommended. An agent that contacts sols for them to send you individual quotes, but one recommended by an EA? mmm.

Neither you, nor your vendor should really be spending any money on conveyancing until you get an offer on your house - you can't make anything go any quicker by doing it all now and you need to protect yourself - just in case - this doesn't happen in time. You don't want to simply waste money

I'm also not particuluarly impressed by 1.5% + VAT. I do hope at the least that EA do push your house to get both commissions - has the house you want been removed from the market or not?

ppolly

The house has not been removed from the market - the vendor hasn't accepted the offer yet! Should I expect the EA to do so if she does - even though our house is only just on the market?
We shall certainly look around for some solicitors as well. Thanks again. I'm feeling both grateful and very small and unknowledgeable.
I think the EA will push our house - its a new branch, it will be weekly in the paper, on rightmove etc- its in their own interests to get it sold asap.

Doozergirl

I was only thinking that you would be incredibly lucky if they did remove it from the market?

has anyone else valued your house? Do you feel confident of your asking price? Looked at what is available that compares to you?

ppolly

'has anyone else valued your house? Do you feel confident of your asking price? Looked at what is available that compares to you?'

Yes -I actually did do the right thing on this bit - The EA we want to go with gave us the best of 4 valuations - and they varied enormously. I'm very confident that the asking price is right (one benefit of having looked around for so long...) I know what price the house 3 doors down from us went for 2 months ago and that ours is correctly priced for the area we live in and the type of house it is.

Doozergirl

ppolly wrote: »

'has anyone else valued your house? Do you feel confident of your asking price? Looked at what is available that compares to you?'

Yes -I actually did do the right thing on this bit - The EA we want to go with gave us the best of 4 valuations - and they varied enormously. I'm very confident that the asking price is right (one benefit of having looked around for so long...) I know what price the house 3 doors down from us went for 2 months ago and that ours is correctly priced for the area we live in and the type of house it is.

You're quite cute, lol!

:T

ppolly

Thanks Doozergirl. I'm going to bed now to read the read the 'which guide to buying and selling a house' ... and to see if I can get that agent down to 1% + VAT in the morning - or its rival! (I've not signed anything yet).

Doozergirl

Don't bother trying to knock down high street names - the likes of Countrywide Group, Halifax are expensive for no reason IMO. You'll get them down a little bit but they're very high anyway and you really don't get a better service.

ppolly

We got our agent down to 1% :j . Our current mortgage - and our savings are both with Northern Rock, so it will be interesting to see what happens there.
We are going for a second viewing of the house we want on Sunday - if we get it it will be a long-term investment (20 years or so) and our mortgage will only be a trifle higher than it is now (its very small and manageable at the moment).