scary world of house buying

klew356

Hi all,

I am a potential first time buyer with no clue what I am doing, I have obviously read articles from martin :money: and stuff on the internet and friends experiences but still feel a bit out of my depth.
I have had a mortgage promise from the bank
I am booking an appointment this week to see a mortgage adviser
I have requested a viewing of a house that I like
I have a quote for conveyancing from the bank but I feel I should be asking for quotes too – can I just email round the local ones to get the best deal? I don’t have a will should I be asking for them to quote for this too?
Single pringle here trying to do it all!

moneyistooshorttomention

Be aware that surveyors fill their reports with all sorts of "get out clause" wording - suggesting you have specialist reports for this/that/the other.

Take someone more "experienced" with you when doing second viewing of houses - even if only someone that has gone through buying several houses themselves. You start to learn "what the surveyor should tell you - but may well not do so" after owning a couple of houses (eg unless the house is pretty recently built or you have written proof it has been rewired = then assume it needs it).

klew356

Thank you for your swift response, I think that’s exactly what I need to do, take someone who has done this before with me, my parents have bought a few houses in their time but I will invite them second time round should I get to that stage. Maybes a friend as well. I have contacted an adviser who was recommended by a friend but solicitor not sure what to do

moneyistooshorttomention

Further thought - which may well not apply if you're buying a typical FTB house.

But - boundaries!

Check clearly where the boundaries are and compare where the red line is drawn on the plan with what looks like the obvious boundaries when you view the place.

I imagine you'll probably end up buying a house that has got them clearly marked with fences and/or walls at each edge - but a point to bear in mind just in case of things like anything being open-plan layout or similar.

EDIT; Also - I take it as read as someone that got to "home-owner age" some time back and coming from the part of the country I do that of course:
a. A house will be freehold
b. There's no service charges or the like and the Council will be the ones fulfilling their responsibility for roads/communal areas.

These days and/or in different parts of the country - this may not necessarily be the case. So do make sure whether the house is "normal" in all respects regarding those things.

Doozergirl

moneyistooshorttomention wrote: »

Be aware that surveyors fill their reports with all sorts of "get out clause" wording - suggesting you have specialist reports for this/that/the other.

Take someone more "experienced" with you when doing second viewing of houses - even if only someone that has gone through buying several houses themselves. You start to learn "what the surveyor should tell you - but may well not do so" after owning a couple of houses (eg unless the house is pretty recently built or you have written proof it has been rewired = then assume it needs it).

A surveyor is not a specialist in everything. They have good all-round knowledge, perfect to help people who don't know their way around a building, and specifically signpost to different professionals where they feel that some further investigation is necessary or advisable.

It is not a stand-alone, definitive report of the condition of every element of a house. It is a guide to what may need doing both now and in the future. It isn't a "get out clause" - it is advice to have something looked at. If there is no issue, they won't signpost to anyone else.

Virtually no house is perfect and people shouldn't really expect them to be. They all need constant maintenance, even if they're brand new of had the most comprehensive of renovations. Something may be perfectly liveable but some people may want to know what work is coming up or how to make it perfect. People have different expectations and they should consult the relevant professionals if they want a definitive angle on (eg.) electrics or the boiler rather than a cursory glance that just assesses the obvious based on the age of what is visible.

It's ironic that you're saying that the surveyor won't tell you, but you should assume it needs a rewire. The surveyor will tell the buyer to commission a report from a qualified professional because they can't definitively say, yet most people don't commission that report.

I have seen evidence of differing quality of surveys on his board and I think that people should book a good level of survey and speak to private surveyors on the phone beforehand to establish a relationship and ensure that they can ask questions of the surveyor after survey to clarify points for them. A genuine, written report is far better than the corporate, tick box type that fills in sentences and nothig beats an actual conversation to grasp a surveyor's actual feelings.

AdrianC

klew356 wrote: »

I have had a mortgage promise from the bank

Not quite... You've got an "in principle" offer - if they think the property you eventually find is good security, then there should be no issue with a mortgage, assuming all is as they believe so far.

I have requested a viewing of a house that I like

Go and see a lot of houses, some you don't think are right. You'll get a much better feel for what you REALLY want, and what's good value.

I have a quote for conveyancing from the bank but I feel I should be asking for quotes too – can I just email round the local ones to get the best deal?

Absolutely. And compare the detail, not just the headline. Ask local friends for recommendations.

I don’t have a will should I be asking for them to quote for this too?

Why do you think you need a will now?

AlexMac

klew356 wrote: »

...I will invite (my parents) second time round should I get to that stage. Maybes a friend as well. I have contacted an adviser who was recommended by a friend but solicitor not sure what to do

You're doing everything right (although house buying is such a random business that there really are no rules, rights or wrongs) and its great that you are prepared to listen to others (who may, of course be right or wrong!).

As regards choice of solicitors I've seen lots of advice on this forum, and lots of stories of incompetence or delay (expecially by online or remote, or developers' own recommended conveyancers) so I adopt a common sense appraoch.

I prefer local solicitors who are accessible (to pop in and sign stuff later), but who pick up the phone, communicate transparently in clear BS free language, respond promptly and are prepared to use emails rather than snail mail (which can shave weeks off the process - especially if your vendor's solicitor does the same).

You can establish this by phoning round a few local solicitors, asking them to quote for acting on your purchase. Don't be afraid to ask Qs about use of emails, and they will evidence their efficiency by offering to email you confirmation of their quote and getting it to you fast; ask 'em if they don't offer. And you don't have to take the cheapest as the cost of the legalities is still a tiny % of the biggest purchase of your life.

And don't over-react or respond too quickly to inevitable glitches like slow replies to offers , incompetence by Estate Agents, or pessimistic 4r5e-covering cut n paste reports from surveys; again there are lots of past post here on those topics.

When we were raw to house-buying, over 40 years ago, we ran in terror from our first attempted purchase when we discovered a tiny patch of damp which, with hindsight, would have cost a couple of hundred quid to fix... although we fell on pur feet with the next choice!

Good luck! Go for it

EDIT; I'd separate the process of writing a will; whci if your affairs are simple, you could do without a lawyer; lots of templates out there on the web. Wait til you are happy with your solicitor as a conveyancer then do it soon after as we did?

TBagpuss

klew356 wrote: »

Hi all,

I am a potential first time buyer with no clue what I am doing, I have obviously read articles from martin :money: and stuff on the internet and friends experiences but still feel a bit out of my depth.
I have had a mortgage promise from the bank
I am booking an appointment this week to see a mortgage adviser
I have requested a viewing of a house that I like
I have a quote for conveyancing from the bank but I feel I should be asking for quotes too – can I just email round the local ones to get the best deal? I don’t have a will should I be asking for them to quote for this too?
Single pringle here trying to do it all!

Yes, contact local solicitors for quotes for the conveyancing work. Many will be able to take details over the phone (or via e-mail ) and e-mail you a quote.
When you compare them, make sure that you are comparing like with like - e.g. some that look cheaper may not include everything in their headline fee.

If you have had a quote through your bank, who would actually be doing the conveyancing? Is it it a local firm or is a a conveyancing factory miles away?

If you use a local solicitor then they would be able to quote you for a will as well - it will probably be a different individual within the firm as most lawyers specialise.

It's a good idea to take someone with you when you view a property (or at least on the 2nd viewing) both to point out anything you may have missed but also to look at things more objectively, as someone who *isn't* excited about maybe buying a home.

If you are viewing several properties, write notes as soon as you leave each one to remind yourself what you liked / didn't like about each, it's easy to get mixed up if you are viewing lots of houses.

Once you have had an offer accepted and have instructed your conveyancer or solicitor, make sure that you read the paperwork they send you and that you ask if you are not clear bout anything. remember that the solicitor hasn't been to the property and hasn't seen it, so you need to check that the details you see on the paperwork are consistent with what your saw at the property, in terms of things such as access, what is or is not included.

Bear in mind that searches and the property information forms don't tell you everything - for instance, you sellers would have to tell you about applications for planning permission they have been notified of, but this may only cover their immediate next door neighbours, so do consider whether you want to look at the local authority planning portal, and/or local papers to see if there are any major plans which might affect your house once you move in.

visit the street where you are thinking of buying several times, at different times of day - that way you can see whether it gets gridlocked at rush hour, packed with parents parking at school run times or if it is very noisy on a Saturday night (obviously all of these will depend on the type of property and where it is!) also, if it doesn't have its own parking, checking at different times of day can give you a feel for whether it's likely to be easy to park on the street at the times you are most likely to be arriving, too.

Good luck

klew356

Go and see a lot of houses, some you don't think are right. You'll get a much better feel for what you REALLY want, and what's good value. thank you i will


Why do you think you need a will now?[/QUOTE] because i dont have one, and i really should!

klew356

AlexMac wrote: »

You're doing everything right (although house buying is such a random business that there really are no rules, rights or wrongs) and its great that you are prepared to listen to others (who may, of course be right or wrong!).

I prefer local solicitors who are accessible (to pop in and sign stuff later), but who pick up the phone, communicate transparently in clear BS free language, respond promptly and are prepared to use emails rather than snail mail (which can shave weeks off the process - especially if your vendor's solicitor does the same).

You can establish this by phoning round a few local solicitors, asking them to quote for acting on your purchase. Don't be afraid to ask Qs about use of emails, and they will evidence their efficiency by offering to email you confirmation of their quote and getting it to you fast; ask 'em if they don't offer. And you don't have to take the cheapest as the cost of the legalities is still a tiny % of the biggest purchase of your life.

And don't over-react or respond too quickly to inevitable glitches like slow replies to offers , incompetence by Estate Agents, or pessimistic 4r5e-covering cut n paste reports from surveys; again there are lots of past post here on those topics.

When we were raw to house-buying, over 40 years ago, we ran in terror from our first attempted purchase when we discovered a tiny patch of damp which, with hindsight, would have cost a couple of hundred quid to fix... although we fell on pur feet with the next choice!

Good luck! Go for it

EDIT; I'd separate the process of writing a will; whci if your affairs are simple, you could do without a lawyer; lots of templates out there on the web. Wait til you are happy with your solicitor as a conveyancer then do it soon after as we did?

thats good advice re the will thank you! im thinking a local solicitor too as i dont want to be taking lots of time off just to go and sign things, il need these days when it comes to moving house, i also much prefer email!

klew356

TBagpuss wrote: »

Yes, contact local solicitors for quotes for the conveyancing work. Many will be able to take details over the phone (or via e-mail ) and e-mail you a quote.
When you compare them, make sure that you are comparing like with like - e.g. some that look cheaper may not include everything in their headline fee.

If you have had a quote through your bank, who would actually be doing the conveyancing? Is it it a local firm or is a a conveyancing factory miles away?

If you use a local solicitor then they would be able to quote you for a will as well - it will probably be a different individual within the firm as most lawyers specialise.

the quote was just to give me an idea of costs, they were all in the nearest city which is 60 miles away so im wanting to pick one up in a local town so im not taking lots of time off to go sign things etc.