Buying but not moving in immediately - any advice?

eddddy

clairec666 said

I'm buying my first property (first floor flat)…

As it's a flat, it's usually (but not always) the freeholder who arranges buildings insurance - I'm sure your solicitor has explained this.

If so, your solicitor probably requested a copy of the policy, and has (or will) forward a copy to you.

You can check the clauses about ''unoccupied property" - there might be a 14 day or 28 day limit, but usually doing "inspections" is an acceptable alternative. So probably "inspecting" the flat each time you visit would be acceptable. Keep a note of each time you visit.

(Maybe turn off the water at the stop tap and unplug any electrical appliances each time you leave for the day, to be extra safe.)

As you will have no contents (furniture etc), I guess you won't arrange contents insurance during that period.

clairec666

https://forums.moneysavingexpert.com/discussion/comment/81993210#Comment_81993210

Yes, building insurance is arranged by the freeholder, I don't have a copy of the policy yet. Contents insurance I'll sort out nearer the time.

As Albermale says, it's probably quite common for people to do a bit of decorating before moving furniture in. I'll make sure I read everything carefully to make sure I'm not caught out.

RedFraggle

Can always sleep on a camp bed if decorating.

clairec666

https://forums.moneysavingexpert.com/discussion/comment/81996611#Comment_81996611

Yes, will probably do that, but will double check whether the insurers will consider it "furnished" if there's just a camp bed and some decorating stuff in there. There's not much room to manoeuvre furniture hence why I want to get all decorating done while it's empty.

Of course, there's only a tiny chance that I'll have to claim on my insurance during that short timescale, but I don't want to get caught out.

Silvertabby

Repeating an earlier recommendation to change the locks on completion day - you have no way of knowing how many 'spare keys' are out there!

clairec666

https://forums.moneysavingexpert.com/discussion/comment/81996689#Comment_81996689

Thanks, yes, that's good advice generally, but even more important if the flat's going to be empty for a few days at a time.

Jemma01

I completed on Friday, why would that have been a problem? Is it because the weekend will cause delay in any needed resolutions? (Like discovering broken toilets, etc?)

Guess I got lucky lol

user1977

https://forums.moneysavingexpert.com/discussion/comment/81996957#Comment_81996957

It's more of a problem if you end up stuck in a removal van having completed a sale but failed to complete your purchase (I mean, that would be a hassle on any day, but it means nothing can be sorted until at least Monday). Not such a big deal if you don't need into the property immediately.

clairec666

https://forums.moneysavingexpert.com/discussion/comment/81996957#Comment_81996957

From what I've heard, it's because of potential hold-ups with completion and potentially being in limbo over the weekend. Not really a problem for me as I'm bottom of the chain.

sheramber

At 3 pm on completion day our solicitor advised us that money from our buyer had not yet come through.

Our furniture was already on its 300 mile journey.

Fortunately, our seller was still at the property and willing to give us the keys.