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Daughter buying her first house

Discussion in 'General Discussion' started by Ian H, 26 Oct 2020.

  1. ajstoneservices

    ajstoneservices

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    When we sold in London 30 years ago we tried to buy in Ruislip and Denham.
    Both sellers were intent on upping the price that we had first agreed on. The seller in Denham got us to up our offer by 17 grand and when she wanted another £500(the price of a new sofa was how she put it) We told her to stick it up her arse.
    When told her estate agent we were no longer interested they both tried to backtrack but it was too late. The couple in in Ruislip tried the same trick so we pulled out straight away and bought a house with building plot in Norfolk.

    The house we built in Norfolk was sold to a lady that took a very long to complete(6 months) While the sale was going through we were offered 10 grand over the asking price by a local farmer that was a cash buyer but we refused his offer as we had agreed to sell to Pippa.

    Some sellers and buyers are ****s. Their word means Jack.
     
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  3. SirGalahad

    SirGalahad

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    your sounding like tranny. lol
     
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  4. johnny2007

    johnny2007

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    The day before exchange, at 4pm drop the price to 110k.
    Estate agent will go mental and will convince the 2 charity scambags to accept the deal.
     
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  5. Ian H

    Ian H

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    I think she has fallen in love with it :LOL:

    It’s not the first she has looked at but it was the first that she felt had real curb appeal for her, right location, right size, right price, right condition. We had been the day before and looked around it outside and spoke to the neighbour about the area so we’re both excited to see the inside the next day.

    I think after today she is half expecting some more tricks from the sellers/estate agent, this time, as much as she wants it, she will tell them to shove it.
     
  6. Notch7

    Notch7

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    estate agents trade on people emotions


    Estate Agents act for neither Vendor or Buyer
    = always keep that in mind for any conversations with them.

    "Why are they saying that, what is their motive".......


    Estate Agents will push the buyer for more money...if it suits them
    Estate Agents will push the seller to accept a lower offer....if it suits them.
     
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  7. Mottie

    Mottie

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    They are there to earn money through sales commission. The difference in the fee they earn on the percentage of say, £395k is negligible compared to the fee on £400k so they would always push the vendor to accept the lower offer if they thought the buyer was going to walk. 100% of £395k is better than 0% of £400k. It doesn’t hurt to convince them that you are prepared to walk.
     
  8. Ian H

    Ian H

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    Well, until she get the keys nothing is set in stone, not the price and not even the sale itself so we will see.

    Do you reckon before Christmas or in the new year?
     
  9. ETAF

    ETAF

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    by no means an expert
    We had an offer and going through the process and then because the buyer was purchasing as a 2nd home, they did not realise the stamp duty implications and tried to knock us down again, which we refused , they pulled out, but all the paper work had been started and filled
    10/3/18 offer accepted - 4/5/18 complete

    don't see why christmas should be a problem if everything goes smoothly , and nothing appears in survey & mortgage approval

    Building societies used to provide 3 levels of survey, or are you getting an independent surveyor ?
    it can be done very quickly these days , depends on how long you take and their solicitors.
    you used to wait 4 weeks between exchange & completion , this can be much shorter these days, my daughter house was 2 weeks.
    when i sold my house the exchange to completion was originally 2 weeks , but because of the mortgage lender releasing the money, which i suspect was more to do with the buyer it took 3 weeks.

    BUT you have to keep the pressure on everyone involved , your solicitors, estate agents, Mortgage, surveyor , don't expect them to work fast.

    The Charity will have to complete various forms themselves

    obtain an Energy Performance Certificate (EPC) https://www.epcregister.com/
    you can see if one is already registered with post code, found my old one from June 2017 , BUT did not get an offer until Nov 2017, which fell though in 2018
    Try the property postcode and see if already registered , if not then the other buyer did not get very far , this was one of the first things i did before I had an offer, almost a year

    The fittings and contents form, or TA10
    The property information form, or TA6
    https://www.lawsociety.org.uk/topics/property/transaction-forms#ta10
    etc etc etc
    Depending on how far the other buyers got, these forms should already be done, its should be one of the first things to fill in.
    My advice keep ontop of the solicitors , Over the last few moves, my family & I have had fixed prices from solicitors , so it does not cost every time you phone

    My daughter new house was empty, she had an electrical survey , which showed up quite a few issues and she wanted a new laminated floor on the ground floor.
    The seller agreed the work could be carried out between exchange & completion, keys via estate agent.
    I helped put in the new floor , and liaise with the services - which was 10 days work, finished at 6pm day before completion - had the plumber in and replaced a tank in loft, plus moving other radiators - 2days work , and the electrician worked putting a new CU , ringmain in the Kitchen and fixing lots of the other issues, changing light switches and light positions - 2 days work. A bit of a risk, but it was great as the house was empty, and no way could it be done as easy with all her old house stuff moved in. The floor had loads of issues, which took longer then I expected, a few late nights
     
    Last edited: 29 Oct 2020
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  11. Ian H

    Ian H

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    Her conveyancer is charging £999 which includes £50 fee for cashing in her help to buy isa.

    He seems good so far, she called him after she was gazumped and was going to up her offer to £120, he advised her to go up a thousand or 2 first so possibly just saved her £3000.

    I’m not looking at boilers and kitchens today, I’m trying to forget the whole thing for a couple of months.
     
  12. ETAF

    ETAF

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    sorry i edited my post,
    I assume your daughter will be doing all the chasing, she MUST NOT forget it , otherwise it could take ages.

    One of the MOST stressful things in life buying houses

    looking up the EPC may be quite insightful if it does not have one
     
  13. wgt52

    wgt52

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    So very true - when I made my last house purchase I made an agreement with the vendor that I would aim to complete on 6th April (new tax year and it had a benefit for me); told the BS, next thing I new was the BS surveyor had been heard from or seen, rang the BS to ask what was going on and their expectation was I was buying on 1st May - nearly cost me the house and it didn't complete until 27th April when I was working overseas. Your daughter needs the name and 'phone number of the person dealing with her file in the BS, ring them every couple of days for a progress report; if things aren't going at the speed you like just become a nuisance to them.
    The solicitor I had was brill, took me through everything including what appeared to be a 'funny' boundary - subsequently discovered to be an access path that had been voided at the time the houses had been built.

    Certainly is

    It's a legal requirement before a house can be sold, apparently. If there isn't one then that's a reason to reduce the offer.
     
  14. johnny2007

    johnny2007

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    By £50.
    Result!
     
  15. Notch7

    Notch7

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    Level 1: do a right move search to value
    Level 2: actually view the property, still do a right move search
    Level 3: 50 page cut n paste word doc, with 49 pages of "not our responsibility" clauses.
     
  16. ETAF

    ETAF

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    Our buyer had 3 options and chose option 1 which the mortgage company did visit the property, BUT would not tell the buyer anything other then YES/NO they can have the mortgage.
    I prefer an independent structural survey and ask them not to waste time counting the sockets in a room, etc etc , but as you say
    which you can esily check with the postcode online , and if there is NOT one then the house sell
    if no EPC , then it did not get very far, as mentioned this should have be done straight away , when the house was put on the market. If it does you can see the date when it was done

    The TA6 may also be pretty blank, as the charity will NOT know the answers to a lot of the questions.
     
  17. motorbiking

    motorbiking

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    particularly after the branch manager has forecast the income for the monthly sales. Nobody likes a sales person who doesn't deliver the deal on time. With the risk of Covid Lockdown 2, just around the corner.. I think there is a trump card to play as long as she can get her game face on.
     
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