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Simple Question regarding buying / selling
Comments
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Just to add
Most solicitors will charge you based on the amount of time they've already spent on your file. So if the sale falls through very early on, their charge might be minimal, whereas if it falls through right before Exchange of Contracts the charge might be closer to the full original quote.CheckDigit wrote: »a) If the sale falls through (after I have instructed my solicitor) then do I still need to pay the solicitors the full amount? I ask because in principle the buyers might pull out before exchanging contracts.
Some solicitors will agree a 'no sale no fee' contract so that if it falls through they only make you pay 'disbursements' (that's things they've paid for on your behalf like searches), but not charge anything for themselves. A 'no sale no fee' contract might be more expensive though.0 -
We saw a property which we liked and made an offer. To our surprise the sellers accepted the offer immediately. The property however is old so we want to do a full structural survey. Can I just ask the estate agent that I would like to do a survey or do I need to go through my bank / solicitor first?
Thanks again0 -
A survey is nothing to do with your solicitor, and I wouldn't inform my mortgage provider either.
Just find the surveyor you wish to use and they'll liaise with the EA for access. Do the vendors know that you want to do a structural survey? If not you better get the EA to ask them if its OK first.0 -
It's usually called a Buildings Survey nowadays, which is sensible on an older property. Takes maybe 3 - 4 hours on a smaller house and shouldn't inconvenience vendors too much.Do the vendors know that you want to do a structural survey? If not you better get the EA to ask them if its OK first.
The word Structural is a bit of a misnomer, as it implies all parts of the structure will be examined, but they can't be with furniture etc in place. The surveyor ought to look in the loft, but they won't be taking up carpets.
Don't use a surveyor recommended by the agent for obvious reasons regarding conflict of interest. RICS website has a list of local surveyors if stuck.0 -
May I ask (and I'm just curious, not trying to criticise - we are all beginners at some point) - you seem very green to this process... but how did you end up with a flat to sell without having already been through all this (in some form) before?
When organising a survey on a property you are buying - you basically tell the agent when you make an offer that the offer is subject to survey. Once negotiation over a price in principle is agreed, they will then help organise access for your surveyor.
Then you tell your surveyor about the property and pass on the details of the agent (and/or vendor).
When you get the results of the survey, you may choose to try to renegotiate the price, but typically only if material issues arise that wouldn't have been evident to a layperson in the viewing. But that's up to you.0 -
I bought a new build flat from Fairview about 10 years ago and before that I was living with my parents. I used the solicitors that Fairview suggested and they seemed to hold my hand throughout the entire process so I didn't need to do much.0
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You seem to have got away with it that time, but it's never a good idea to use the solicitor that the developer suggests.CheckDigit wrote: »I used the solicitors that Fairview suggested and they seemed to hold my hand throughout the entire process so I didn't need to do much.
In a purchase your solicitor is the only person who supposedly has your best interests at heart, the developer is just trying to get a sale as quickly as possible.
Do you really believe that a developer-suggested solicitor (that gets a bonus for every client they act for) will do that, or will they just avoid rocking the boat with a major employer that provides them with hundreds of thousands of pounds of business every year by not bringing up any negative issues?0 -
Agree, I didn't know what I was doing. Hopefully this time will be different.0
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