FTBer Offer Accepted, What Next?

HGW2012

So we have had a offer accepted :T But now what? (I'm sure this gets asked all the time!)

We have a broker, we have got a quote for a solicitor and just waiting for them to call us to go ahead, how quick should this be?

We have a meeting with our broker in a couple of days to submit the mortgage application.
Anything else we need to be doing?

Also what fees will we need to pay?
Broker fee
Solicitor fee (which includes legal fees, searches, stamp duty and land registry fees)

Any other fees?

Rambosmum

personally I'd get your survey done if you are having one. That way you save solicitor and broker fees if it turns out to be a dud (bitter experience).

SeduLOUs

Is the lender going to charge you for the valuation survey?

Are you having any other surveys done?

Consider whether or not you want the solicitor to start work (and therefore incurring cost) before the mortgage is approved.

Your broker and/or solicitor should help guide you through the steps of the process.

HGW2012

Rambosmum wrote: »

personally I'd get your survey done if you are having one. That way you save solicitor and broker fees if it turns out to be a dud (bitter experience).

How do I do that? Any advice?

It is a 12 year old property, what kind of survey would I get?

SeduLOUs

HGW2012 wrote: »

How do I do that? Any advice?

It is a 12 year old property, what kind of survey would I get?

https://www.moneyadviceservice.org.uk/en/articles/a-guide-to-homebuyer-surveys-and-costs

The lender will need (and will arrange) a valuation survey as a minimum. They may be charging you for this or not - check with your broker. You may be able to upgrade this survey if you want a more detailed one, or you may find it cheaper to get someone else entirely to do a separate one.

Which survey (if any) you choose to do is entirely up to you and your own assessment of the risk.

aneary

Ask if there are any disputes before the solicitors start searches etc I ended up with nearly £1000 in lost fees due to a dispute not being disclosed. The vendor avoided telling me and the solicitor until further on on the hope I wouldn't pull out at that stage.

HGW2012

SeduLOUs wrote: »

Is the lender going to charge you for the valuation survey?

Are you having any other surveys done?

Consider whether or not you want the solicitor to start work (and therefore incurring cost) before the mortgage is approved.

Your broker and/or solicitor should help guide you through the steps of the process.

Ahh right it is a starting to make a bit more sense now.
So we haven't got a lender as get because we haven't put our full mortgage application in just DIP until Wednesday when our broker returns from holiday.

Our broker did tell us to get the solicitor mobilised but I am guessing I should hang fire until the mortgage application has gone through.

And does my lender arrange the valuation survey? What other survey's are there?

hazyjo

Is the chain complete? Don't start anything until it is.


Hopefully it's an independent solicitor (and broker!) and not one associated with the EA. And fixed price! I've always had an immediate quote, or they've come back to me quickly. If it's been days, I'd try another - not exactly a good start.


You'll pay the solicitor for the searches early on (depends what the council charge where you're buying - could be anywhere between £100-400-ish).


Your lender will arrange a valuation - if you're getting a homebuyers' or building survey, you might wish to 'upgrade' on the valuation with the same surveyor. Might be cheaper.


Good luck.

aneary

You can arrange the solicitor but ask them not to start any work.

HGW2012

aneary wrote: »

Ask if there are any disputes before the solicitors start searches etc I ended up with nearly £1000 in lost fees due to a dispute not being disclosed. The vendor avoided telling me and the solicitor until further on on the hope I wouldn't pull out at that stage.

What kind of disputes, how would the solicitor know before doing searches?

SeduLOUs

aneary wrote: »

Ask if there are any disputes before the solicitors start searches etc I ended up with nearly £1000 in lost fees due to a dispute not being disclosed. The vendor avoided telling me and the solicitor until further on on the hope I wouldn't pull out at that stage.

And if you've been promised any paperwork is in place (building regs, warranties etc) then put eyes on the paperwork now if you can.

I was promised a 'new' boiler under warranty, and that the extensive refurbishments all had building regs certificates. At the final hour it turned out that the brand new boiler was apparently 6 years old but had no paperwork whatsoever, and there wasn't a single piece of paper to be found regarding the removed internal walls and extension they'd built.

I pulled out in the end, £700 down the pan.

Welcome to the nightmare that is house buying - I'm now on attempt 2!