buying a house, paperwork, First time buyer questions

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  • buying a house, paperwork, First time buyer questions
  • marsdenman
    Member

    Nope, can’t see you have missed anything.
    Only thing i’d be wary of is using your broker recommended solicitor – it will likely make a difference to your broker – a commission payment.
    Shop around – look for local recommendations + fixed fee places – we sold & bought in January. Solicitors fees were fixed at £350 each (sale and purchase) + costs for the searches they have to do on your behalf – land registry etc, making sure you are buying what you think you’re buying, there are no old coal workings etc etc.
    What we do feel helped us was that we and the couple we were buying off used the same company – different solicitors in different offices but, as they were part of the same business, communication was a lot easier.

    Hope it all goes well for you

    breatheeasy
    Member

    Assuming vendor accepts i guess i need to get back to the broker, and i need to appoint a solicitor for the paperwork. Anything i have missed?

    Nah, that’s pretty much how it goes. Estate agent will probably ask who your solicitor is (but mainly so they can try and flog you theirs).

    As an aside how how much difference can a solicitor make? any firms to avoid like the plague? does going with lender recommended make any real difference?

    Are you saying comparing solicitors, or can I do this without a solicitor? Basically you’ll need a solicitor to do the stuff for you, so hopefully the former.

    I’m sure they’ll be some people along with horror stories about solicitors missing stuff.

    You’ll want someone local as you’ll need to pop in to sigh documents, drop stuff off. Anyone you know that can recommend one they’ve used?

    We found out after we used a friend of a friend that he had a reputation for being pretty slow with things (but fairly studious with it, so swings and roundabout).

    does going with lender recommended make any real difference?

    Nah, no really. I’d probably go with someone that a friend has recommended but failing that it’s a lucky dip anyway so might be worth just going that route.

    mrmo
    Member

    Spoken to a broker, got an offer in principal thing, spoken to the estate agent they are putting offer to vendor.

    Assuming vendor accepts i guess i need to get back to the broker, and i need to appoint a solicitor for the paperwork. Anything i have missed?

    As an aside how how much difference can a solicitor make? any firms to avoid like the plague? does going with lender recommended make any real difference?

    thanks.

    Premier Icon alfabus
    Subscriber

    A decent (or rubbish) solicitor can make a world of difference.

    They are almost always the source of most of your hold ups, and you will find yourself on the phone to them several times a day during the crunch period of the deal getting them to chase down issues and pass information to the other side.

    Get a recommendation from someone who has actually used a solicitor that they don’t want to kill. I’d recommend the one I used last time, but she was Wimbledon based, so not very local for you.

    Dave

    mrmo
    Member

    Are you saying comparing solicitors, or can I do this without a solicitor? Basically you’ll need a solicitor to do the stuff for you, so hopefully the former.

    definitely comparing solicitors, DIY is one headache i don’t need!!!!

    will have a hunt round then. I am guessing prices aren’t really that variable, as with most things there is a price most are willing to pay and that will set a benchmark

    jekkyl
    Member

    I work for a bank that operates nationally. a lot of customers use this company: http://www.1stpropertylawyers.co.uk/ and they all tell glowing reports. Otherwise I’d use a very local one that you’ve had recommendations for, ask friends and family.

    gusamc
    Member

    re lender – hunt around for the best deal, people who are on commission tend to not always see the best option…….esp if recommndation was a bank etc (they have tied advisers) you want an Independent Financial Advisers (IFA) they are not tied to a companies products – alos use tinternet yourself

    Make your offer subject to including carpets and curtains (*and anything else you want/believe/think should be included in the price) and subject to survey

    I used an internet solicitor once and it was fine but am currently going local (easier to drop dosc, signs etc etc)- buying a house adjusts your financial perspective – you will find youself saying ‘it’s only 200 quid’ …. but do shop around and get quotes and don’t be afraid to say can you do it for X less

    bensales
    Member

    If you’ve not got a solicitor, and they have a decent reputation, you can hire the same solicitor as the vendor. Certainly makes the paperwork go a bit easier when it never has to leave one person’s desk.

    freeagent
    Member

    We used the solicitor recommended by the estate agent when we bought our house (yes, I know 🙄 ) on the understanding that the estate agents would chase them up for us, and the agent wouldn’t be able to blame the solicitor for any delays.
    It worked out pretty well as it goes, and if/when we move again I may well use the same guys again.

    As for your mortgage, we used a mortgage broker last autumn when we re-mortgaged our house, however he ended up arranging a mortgage through my bank (Barclays) as that was about the best deal we could find.
    We spent hours on ‘tinterweb looking at different options, but could do no better than the mortgage guy…

    My word of warning would be about surveys – we’ve had two now, on two different houses (inc a full structural on our current house) both of which quite frankly wern’t worth a w**k.
    Unless I was buying a listed building, or something complicated I would stick with the cheapest ‘valuation’ survey.
    The full structural was riddled with caveats, get-out clauses and was ultimately pointless.

    I’m sure there’ll be a loads of honest surveyors on here within minutes insisting you’ll die if you don’t blow £££ on the full structural… but hey this is just my experience.

    mrmo
    Member

    Should mention that I am buying the house I am renting, not planning on getting anything beyond the most basic survey. Looked round enough of the house to know what needs sorting,most things!!!!

    rogermoore
    Member

    Only advice I would offer is getting your buildings insurance sorted sooner rather than later. We didn’t get our fingers out quick enough with this and felt like it nearly could have caused problems come completion (i.e. stress which wasn’t needed at the time).
    RM.

    STATO
    Member

    My word of warning would be about surveys – we’ve had two now, on two different houses (inc a full structural on our current house) both of which quite frankly wern’t worth a w**k.

    Im looking to put an offer on a house next week and was considering the full survey as its 80+ year old, did it not provide any info on stuff you’d not been able to see, or give reasons for possible damp etc.

    We went for the mid-level survey. The survey claims that the conservatory was built before the house!
    I would suggest getting the most basic survey (the mortgage will allow) and getting a builder to quote for work. They will have a vested interest in telling you what is/might be wrong.

    Pieface
    Member

    If you’re unhappy with anything make it known to the vendor within the first few weeks, not 10 weeks down the line.

    jekkyl
    Member

    the basic valuation is enough for a bank to lend money and it will highlight any major areas of concern, damp & electrics etc.

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