First Time Buyer

LunaAndBelle

Hey all! I’m looking for some advice please. 

I’ve been saving for so long and currently living with parents so I’m desperate to get out. I was ready to buy then covid happened and the market went wild. 

3 years on and it needs to happen now as I can’t tolerate it anymore. I’ve got a MIP through a broker - as part of the free advice I have with my LISA.

I have put an offer in on a property I like. I’ve had multiple viewings so I’m excited. I’m just waiting to see if it will be accepted. I’ve offered the asking price but it was ‘offers in the region of’. I was the first to put the offer in but I know they were doing viewings this week too.  

I’m researching conveyancers and have some quotes and read reviews. I don’t know anyone who has moved recently so can’t ask for recommendations. 

I’ve read through the timeline guide on the website and I’d like to do the structural survey too. 

Does anyone have advice or tips for finding a conveyancer and someone to complete the survey please?

Any other tips would be useful please. I’m doing all of this on my own and it’s a bit daunting!

EssexHebridean

There was a thread on here recently about finding a solicitor for conveyancing if I remember rightly. I'd say that priority is to avoid using the firm suggested by your lender, and be cautious about using one suggested by the estate agent too (although some EA's will give a list of local firms clients have used previously). Ask family and friends for recommendations (or the opposite!).

Good luck with your offer, don't underestimate how stressful the process is (be kind to yourself if you get a bit anxious!) and bear in mind that you can't be expected to know the things nobody has told you - so ask questions about stuff you're not sure about!  

Oh - and on day of moving in, be sure to take meter readings for all utilities, and register with the current supplier to the property - you can change supplier at a later date if there is one you favour, but initially you need to go through that process - failing to that means chaos down the line! 

YoungBlueEyes

What kind of age is the house?

mi-key

You don't need to sort out a solicitor or get surveys done until an offer has been accepted, otherwise you could just end up wasting money. Wait and see if yours is accepted or if the agents get back to you and say someone has made a higher one.

If you don't hear back from them this week, contact them and let them know you are still keen on the house ( making an offer for the asking price is a good move though, so fingers crossed ).

Once an offer is accepted, insist the agent takes the property off the market and removes from rightmove etc.. and doesn't allow any more viewings. At that point you are ready to go ahead with the survey and get your solicitor in place.

LunaAndBelle

YoungBlueEyes said:

What kind of age is the house?

I’m not fully certain but after a Google search, it was probably built in the 50’s. It’s a terraced house. 

propertyrental

mi-key said:

You don't need to sort out a solicitor or get surveys done until an offer has been accepted, otherwise you could just end up wasting money. 

Why? It makes sense to research and choose a solicitor early on so that you can give their details to the seller/ EA immediately. Makes you look like a serious buyer, and also one less thing toworry about once your offer is accepted. You'll have enough going on at that point!

You won't incur any solicitor costs till you instruct them to start work. Just getting quotes and making a choice costs nothing.

mi-key

propertyrental said:

mi-key said:

You don't need to sort out a solicitor or get surveys done until an offer has been accepted, otherwise you could just end up wasting money. 

Why? It makes sense to research and choose a solicitor early on so that you can give their details to the seller/ EA immediately. Makes you look like a serious buyer, and also one less thing toworry about once your offer is accepted. You'll have enough going on at that point!

You won't incur any solicitor costs till you instruct them to start work. Just getting quotes and making a choice costs nothing.

True you can do, but I was just saying it's not desperately urgent before you even know if you are going to be buying somewhere so there isnt any need to panic

YoungBlueEyes

LunaAndBelle said:

YoungBlueEyes said:

What kind of age is the house?

I’m not fully certain but after a Google search, it was probably built in the 50’s. It’s a terraced house. 

Ok so not a new build then. Yep I’d get a full survey done, it gives you a good to-do list.

LunaAndBelle

YoungBlueEyes said:

LunaAndBelle said:

YoungBlueEyes said:

What kind of age is the house?

I’m not fully certain but after a Google search, it was probably built in the 50’s. It’s a terraced house. 

Ok so not a new build then. Yep I’d get a full survey done, it gives you a good to-do list.

This is my plan for sure. The boiler is old too, and they last had it serviced in 2021. So you think it’s worth getting this checked, too? If a new one is needed I’d want to negotiate the price. 

[Deleted User]

My advice is don't get your hopes up, and wait to see what happens before worrying about next steps. Aside from these things taking forever, a first time buyer with a big mortgage isn't very attractive to sellers.

Keep looking and viewing other stuff. You will need some luck.

mi-key

LunaAndBelle said:

YoungBlueEyes said:

LunaAndBelle said:

YoungBlueEyes said:

What kind of age is the house?

I’m not fully certain but after a Google search, it was probably built in the 50’s. It’s a terraced house. 

Ok so not a new build then. Yep I’d get a full survey done, it gives you a good to-do list.

This is my plan for sure. The boiler is old too, and they last had it serviced in 2021. So you think it’s worth getting this checked, too? If a new one is needed I’d want to negotiate the price. 

As long as the boiler works, then it being old isn't really a reason to lower your offer. The seller wont be getting any benefit from the boiler, so why would they effectively pay for it? 

Lots of homeowners never get their boilers serviced, so if it was done 2 years ago it is probably fine. 

You can use the survey to negotiate price, but only if it throws up actual problems that need fixing urgently ( or you can ask the seller to fix these for you before moving in ), not for little things or stuff you may want to change to your taste in the future, that isn't really how buying works