FTB - Privately buying a house - no estate agents involved

bobbiz22

Hi all, I've seen some threads about privately selling but has anyone privately bought a house? As in not going through an estate agent...

There is a house I'd like to buy and the person selling will be getting it valued but won't be putting it on with an estate agent, so we can just process the sale privately. I'm feeling a bit confused as I'm a FTB so I'm not sure whether it's easier for me to use the same conveyancer as the seller etc...? Would that speed the buying process up as they have all the land registry and property documents already? I'm also thinking of using Habito or Trussle as the mortgage broker as I feel they may be more efficient right now, as I'm unable to see anyone in person... Although I could use a mortgage broker that a family friend suggested but not sure if it's quicker through either of those two sites?

Sorry for the rambling - I've read the guides on MSE but it speaks about estate agents so I'm still feeling a bit lost and wondered if anyone has ever been in the same boat recently, especially with everything that is going on with the housing marketing & mortgages, if anyone has recent experience with this I'd really appreciate any advice.  

Comms69

Literally from your perspective there is no difference if an agent is involved or not. 

Whilst you can use the same company for conveyancing, you cannot use the same person - for obvious reasons. 

davidmcn

Comms69 said:

Whilst you can use the same company for conveyancing, you cannot use the same person - for obvious reasons. 

And you shouldn't use the same company for conveyancing, for similarly obvious reasons.

bobbiz22

Oh okay! I didn't really think about it from that point of view....I just assumed it'd make the process quicker and easier but thinking about it, if I did use the same person/company that means if anything is done illegally or wrong etc I wouldn't know, as I wouldn't have someone impartial to alert me to it. Thank you both, that clears that up!

Comms69

davidmcn said:

Comms69 said:

Whilst you can use the same company for conveyancing, you cannot use the same person - for obvious reasons. 

And you shouldn't use the same company for conveyancing, for similarly obvious reasons.

Indeed!   

george4064

davidmcn said:

Comms69 said:

Whilst you can use the same company for conveyancing, you cannot use the same person - for obvious reasons. 

And you shouldn't use the same company for conveyancing, for similarly obvious reasons.

Use a different conveyancing company.

I suggest you speak with the mortgage broker your family friend suggested and if you’re not quite sure compare them to a mortgage broker online to make a final decision on who to go with.

eddddy

Regarding no EA being involved...

If there was an EA involved, there's a number of things they do, which you (and/or the seller) would have to do instead, including

• Progressing the sale. So the EA would 'remind' you and your seller to instruct solicitors, make a mortgage application, and generally guide you through the process.

• Monitor the chain (is there a chain above the seller?), and liaise over things like target completion dates.

• Resolve problems - perhaps through negotiation. For example, the mortgage lender values the property at £20k less than your offer. How would you want to proceed? An EA would have negotiated a way forward between you and the seller. Similarly if a survey showed up problems.

I've seen sale/purchases work fine without an EA where both parties are sensible and reasonable; they broadly understand the buying/selling process; and no problems arose.

I've also seen a sale/purchase without an EA fall apart, because neither party really understood the process; so the process was stalling; so each party blamed the the other one; and they ended up shouting at each other over the phone.

I've also made a purchase which only completed because of the determination and patience of the EA. The EA seemed to spend hours on the phone to the seller, calming them down and gently moving them along.  Without the EA being involved, I would have walked away.