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Buying a home and don't know how anything works

kebabking said:
If you're on the local Facebook group you could ask for recommendations, you can also just Google local solicitors.

Personally I like to use a medium sized local firm - you don't want to have your stuff held up because old Mr Jones is off sick, but conversely you don't want to go to some awful conglomerate like solicitors 4U where there's no local knowledge, and no one will give a shit about your move because each stage gets done by whoever has room on their desk and you'll spend 90% of your time chasing them.

I'd try to avoid firms that claim to do everything - criminal, family, property, wills, employment etc... because they'll be shit at something, and you don't want it to be you.

Most solicitors will do a fixed price deal - and it's worth asking a few random estate agents who they would use or not use. Some relationship would be needed to get a decent answer, so go on a few viewings with different agents just so the office know your name and know you.
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cheers. Just to be clear, this is for selling at auction. So I reckon I will get a solicitor in Bristol as it’s easier for me to take ID in and sign stuff. House is in south London.
 
The estate agent said she'd call me tomorrow for some feedback but she doesn't have my correct phone number (I put an old one on the online form). So what should my move be tomorrow? Email? Call? Put an offer in at the price that she indicated they are after? Above? I don't want the rich student to get it (her Mum wants to buy it for her...)
 
If you can live with the bath, (and assuming the bathroom is big enough), that's easy enough to change when you have a bit more cash. Other things to consider - given it's been mild today - are whether stuff like windows are in decent condition, how expensive heating might be etc.
 
miss direct said:
I don't want the rich student to get it (her Mum wants to buy it for her...)
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is this somebody the estate agent told you about?
Try, if you can, to imagine that the student and her Mum do not exist, which they really might not.
Your thoughts and actions should not be influenced by the agent telling you all about this other keen buyer. It is a thing agents do.
Did the agent ask you your top budget ?
 
miss direct said:
The estate agent said she'd call me tomorrow for some feedback but she doesn't have my correct phone number (I put an old one on the online form). So what should my move be tomorrow? Email? Call? Put an offer in at the price that she indicated they are after? Above? I don't want the rich student to get it (her Mum wants to buy it for her...)
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estate agent will phone for feedback is normal. If you want to offer. Offer what you want. Go in low. Agent will either tell you had other higher offers or will go away and contact the seller. Seller the. Accepts or refuses and agent comes back to you with their decision.
If accepted. Happy days. Find a convenycer ASAP and if you’re getting any surveys done get them arranged ASAP also. I assume you’ll be able to meet the agents check on funds or have a mortgage in principal if they haven’t already checked (shouldn’t have let you view without even asking you this at least)



ensure you ask them to take it off the market (aka not accept any more viewings)

if not accepted. Go in higher or move onto to the next property.
 
bimble said:
is this somebody the estate agent told you about?
Try, if you can, to imagine that the student and her Mum do not exist, which they really might not. Your thoughts and actions should not be influenced by the agent telling you all about this other keen buyer. It is a thing agents do.
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yes. Agents will tell you any old bullshit. Take everything they say with a pinch of salt. If the other people were keen they would already have an offer in.
 
If offer accepted go back in a couple of weeks for another viewingunder the guise of doing some measuring (bathroom sounds like a good excuse) say you can only do this on a Sunday or some other time the agent is shut so the seller will be there. Get an email address for them so you can cut the agent bullshit and call solicitors out on any bullshit delay tactics by being in contact with each other.
 
Yep, loads of students looking to buy places in easter term-time in the middle of a pandemic... :hmm:

(I suppose it's not actually that unlikely with the stamp duty thing, but yeah)
 
I think what you should be doing now is trying to figure out what the place is actually worth, before considering making an offer on it. Zoopla can help you do that (recent sold prices of similar nearby properties).
 
Cid said:
Well that's weird. Also is that brick effect vinyl/wallpaper? And carpet in a bathroom... :mad: Burn it. Burn it all.
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I didn't even notice the carpet as I was distracted by the separate taps and the bath :) but yes, carpet in a bathroom is nasty.
 
Estate agent seemed pretty open. The place has been on the market for a few months but got taken off - both times the sale fell through at a late stage so it has come back on. There was a sold sign outside. There's a guide price and the buyers are looking for the middle price. Apparently they've had some offers but too low. She told me about the cost of nearby/similar properties.
 
cybershot said:
estate agent will phone for feedback is normal. If you want to offer. Offer what you want. Go in low. Agent will either tell you had other higher offers or will go away and contact the seller. Seller the. Accepts or refuses and agent comes back to you with their decision.
If accepted. Happy days. Find a convenycer ASAP and if you’re getting any surveys done get them arranged ASAP also. I assume you’ll be able to meet the agents check on funds or have a mortgage in principal if they haven’t already checked (shouldn’t have let you view without even asking you this at least)
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I wasn't asked for anything to view it. I'm a cash buyer but won't have the cash till later this month. I did find something online that says if there's a sale going through, you can get one estate agent to ring the other to confirm this/the stage it's at.
 
miss direct said:
I wasn't asked for anything to view it. I'm a cash buyer but won't have the cash till later this month. I did find something online that says if there's a sale going through, you can get one estate agent to ring the other to confirm this/the stage it's at.
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yeah, but again. Punch of salt. They will bullshit you. I had mine phone me saying my buyer was keen to exchange and wanted me to break the chain. Which was bullshit. I’d spoke to him over email that morning clarifying where we both were with our solicitors. The agent just wanted their fee as soon as they could and werehappy toput me under pressure to sell early and potentially make me homeless by scaring me that mybuyer might pull out if they couldn’t exchange soon.
I called them out on it and surprise I heard very little from them again until I needed them.
 
miss direct said:
Estate agent seemed pretty open. The place has been on the market for a few months but got taken off - both times the sale fell through at a late stage so it has come back on. There was a sold sign outside. There's a guide price and the buyers are looking for the middle price. Apparently they've had some offers but too low. She told me about the cost of nearby/similar properties.
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Be possibly worth trying to find out why. Which may be difficult as agent won’t be forthcoming. It could be searches/surveys uncover something nasty or there’s something the seller is supposed to have and doesn’t and therefore buyers solicitors are advising to not proceed.
 
What she said was that the first time was an investor and his partner and the partner pulled out. And the second time the buyer couldn't get a big enough mortgage (something like that?)
 
miss direct said:
What she said was that the first time was an investor and his partner and the partner pulled out. And the second time the buyer couldn't get a big enough mortgage (something like that?)
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neither of those sound like ‘late stage’ reasons to fall through. The mortgage in principal should have been in place from the very beginning. Partner pulling out potentially legit but why go through with all the expense of searches etc and then pull out.
 
Good points. I will investigate further. So I need to ask about the length of the leasehold (what's a bad sign?) - not sure how I can find out more info about the sales that didn't go through other than what I've already been told (??)
 
miss direct said:
Ooh I forgot to ask about the length of the lease. It's ex council, does that make any difference?
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2 issues:

1. Length of lease - check years. If less than 90 it is potentially a problem in that a mortgage lender may not lend on it. But as a cash buyer it could work in your favour as you can go for it. But you’d have to think about future cost of extending the lease if you want to sell in future.

2 Ex council - important question is are the council still tge leaseholder? If so you need to investigate whether there’s any major works in the offing as you could be hit with a big bill if so. Things like roofs, lifts, plumbing and heating. Also with any leasehold check what the ground rent and service charge are.
 
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