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FTB - First viewing of a house
Comments
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Scottishgal19 wrote: »That’s great!! Congratulations.
We have a viewing tomorrow so fingers crossed we like it as much as the photos
How did it go @Scottishgal19 ?0 -
A long way to go still but it is one step closer. :j
Does anyone have a timeline of when we will need to start parting with our cash? Ie valuation, solicitor, first mortgage payment etc.
If you're following the same path as me, next steps are:
- Memorandum of sale - no fee and handled by the EA
- Instruct solicitors - I had to pay them £300 for disbursements immediately with the balance due on completion
- Apply for the mortgage - if you're using a broker, this could trigger a fee. For me it was £199 with the balance due on completion.
- Valuation fee - for me £200
That's as far as I've gotten - been about 3 weeks since my offer was accepted - my valuation is due on Thursday, then I've got to decide if I want to have a survey, and if so, what level...That sounds like a classic case of premature extrapolation.
House Bought July 2020 - 19 years 0 months remaining on term
Next Step: Bathroom renovation booked for January 2021
Goal: Keep the bigger picture in mind...1 -
A long way to go still but it is one step closer. :j
Does anyone have a timeline of when we will need to start parting with our cash? Ie valuation, solicitor, first mortgage payment etc.
A good place to post about house buying process, experiences etc is the 'Waiting to Exchange thread...', link here: https://forums.moneysavingexpert.com/discussion/5685963/the-new-waiting-to-exchange-thread
Effectively its loads of people, such as yourself, posting about their experience or with questions/answers about the house buying process.
I used it a lot when I bought my place and found it very helpful."If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett
Save £12k in 2025 - #024 £1,450 / £15,000 (9%)1 -
Hi we viewed the house last night. It is a nice house but didn’t feel it was right for us. I’m struggling at the moment with its location as it was a few miles outside our 5 mile radius from kids school but I thought we should go look at it.How did it go @Scottishgal19 ?
In that dilemma should we wait longer for a house in the right location or go for the right house in the wrong location?
When we buy it will be our home for a long time just don’t want to make the wrong choice but wondering if I’m being unrealistic.0 -
Scottishgal19 wrote: »Hi we viewed the house last night. It is a nice house but didn’t feel it was right for us. I’m struggling at the moment with its location as it was a few miles outside our 5 mile radius from kids school but I thought we should go look at it.
In that dilemma should we wait longer for a house in the right location or go for the right house in the wrong location?
When we buy it will be our home for a long time just don’t want to make the wrong choice but wondering if I’m being unrealistic.
We was in the exact same predicament as you. Ideally we wanted to be within walking distance to the school as we only have 1 car and it would be a pain to get the kids to school when I needed the car. A nice house came up a few miles out from the school but we decided it would be to much hassle moving too far out. We waited for the right house in the right location and got lucky that it did.
Would you regret be in the wrong location long term?0 -
Yes I think it would be fine in the short term but as my youngest is 8 it would be a lot of school runs over the next ten years and wouldn’t move her school for various reasons.
I think that the best option is to wait for the right location as I realised since viewing the house last night that I would could compromise on the house but not the location0 -
Seller chose us as we are FTB's.
As a FTB, get a full survey done, not the basic mortgage valuation jobbie (unless it is a fairly new property). Whilst the survey will cost a fair bit more, it should reveal if there are any nasties lurking in the background - Do ask to see some sample survey reports first so that you can get a feel for how thorough the company is (and go to three or more to compare).Any language construct that forces such insanity in this case should be abandoned without regrets. –
Erik Aronesty, 2014
Treasure the moments that you have. Savour them for as long as you can for they will never come back again.0 -
Scottishgal19 wrote: »Hi we viewed the house last night. It is a nice house but didn’t feel it was right for us. I’m struggling at the moment with its location as it was a few miles outside our 5 mile radius from kids school but I thought we should go look at it.
In that dilemma should we wait longer for a house in the right location or go for the right house in the wrong location?
When we buy it will be our home for a long time just don’t want to make the wrong choice but wondering if I’m being unrealistic.
Every house is going to require some compromises. I have a list of absolutely nots and maybes. If the house I am viewing does not fall under absolutely nots then I go for it. That's the plan anyway.0 -
As a FTB, get a full survey done, not the basic mortgage valuation jobbie (unless it is a fairly new property). Whilst the survey will cost a fair bit more, it should reveal if there are any nasties lurking in the background - Do ask to see some sample survey reports first so that you can get a feel for how thorough the company is (and go to three or more to compare).
The property is 20 years old. It is terraced. It has been extended to the rear. I was a little unsure of what survey to get. I see some companies are now offering Virtual reports.0 -
I see some companies are now offering Virtual reports.
There is no value to a "virtual report". Would you buy a house on the basis of a virtual viewing ?
You could always offer to pay for a virtual report with some virtual money like OneCoin...
There is no substitute for physical checks.Any language construct that forces such insanity in this case should be abandoned without regrets. –
Erik Aronesty, 2014
Treasure the moments that you have. Savour them for as long as you can for they will never come back again.0
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