Buying a home and don't know how anything works

[hash tag]

I can't face trying to find a solicitor so I'm going with this one.

So we've made an offer, had it accepted, got a mortgage decision, found a solicitor - what next??

Speak to your lender. If you went route of homebuyer report, rather than survey, they could probably arrange this at a reduced price. If the damp is bad, you could see it, smell it or it "should" get a mention in the most basic of mortgage valuations. I expect you will see a copy of it.

 

[miss direct]

I walked round there yesterday. Was a bit anxious that I'd find something I hate like piles of rubbish in the street or neighbours playing the drums. But I still like it. Was nice and peaceful with the sound of birds. It also looks like the current owners have started clearing out the garden as it looked barer than when I viewed. Woo.

Going to solicitor's tomorrow to give them my ID, and will chase surveyor as well.

 

[miss direct]

The survey is happening on Thursday! Anyone who knows more about this than me: What sort of timeline could I be looking at? I feel like my life is on hold living in a room until I move!

 

[miss direct]

Oh, and maybe a silly question, but am I able to go to the survey? Would be good to have another look...

 

[Boudicca]

Ring the surveyor and ask when the report will be available. It won't take that long though, maybe a week?

Remember you are in the driving seat and its up to you to keep things moving. This means hassling all parties and extracting timetables where you can.

Often when you ring your solicitor, they will say 'I am waiting for the seller to provide X'. Chasing things up is not something that it occurs to a solicitor to do, as far as they are concerned, they have done their bit. You then have to get on the phone to the estate agent and get them to call the seller and chivy the process on. At some point, it can be worth cutting out the middleman and talking to the seller directly. Some people are happy to do this and some aren't. I have sometimes dropped a note through the door with my number.

Do you know where the sellers are at with buying their next property? This will drive the timetable.

I doubt the surveyor will want you around while he is doing the survey, but its normal to go back for another viewing, just ask the estate agent. But maybe wait until the survey is done as the seller then knows you are serious.

 

[miss direct]

I haven't been chasing the solicitor yet because I still don't have proof of funds (lockdown/banking difficulties). Hopefully will tomorrow.

There's no chain, and I believe the sellers are moving in with a parent (?)

 

[cybershot]

The survey is happening on Thursday! Anyone who knows more about this than me: What sort of timeline could I be looking at? I feel like my life is on hold living in a room until I move!

You’ll get survey about 2 working days later if online via a PDF. If post. Maybe by end of following week.

I doubt you can go on the survey. He will be there for a long time. Plus covid and all that.

If you don’t have sellers direct contact you’ll need to go via the agent to ask the seller to come and have another look. Try and arrange it so the agent isn’t there and you can exchange an email address with the seller so you can directly contact each other with where you are in the process so you can eliminate the agents bullshit and sort any crossed wires your solicitors have with each other.

 

[cybershot]

Also you not providing stuff to the solicitor will be slowing things down. Try and get this sorted ASAP. The process can only move as fast as you and your seller do the tasks you need to do.

Will your solicitor submit searches before proof of funds? As that’s gonna take 4+ weeks and that process could be started while you’re waiting for proof of funds. Not sure they will do it though without proof of funds! Worth asking as at the moment you’re the one holding things up by the sound of it.

Sellers will be waiting for enquiries from your solicitor and their solicitor should have requested fixtures & fittings form and other stuff to pre-empt your solicitors enquiries.

 

[miss direct]

Yes, I should have the funds tomorrow (fingers crossed). I've said I'll take my passport in (rather than send it through the post, which seems daft) so can hopefully show proof of funds at the same time. Will be good to see solicitor (or whoever is there) in person so they connect me with an actual person who needs somewhere to live rather than someone at the end of an email.

 

[cybershot]

TBF you’re probably better waiting for the survey results before instructing the searches as you don’t wanna throw £££s down the drain if the survey comes back terrible.

I’m sure it won’t though and just be prepared for lots of scary wording. Most of it will be probably be nothing to worry about but I remember being a first time buyer on my own and reading the survey and wondering what the fuck I was getting myself into.

Hardly anything of what he thought was or could be a problem was in the 9 years I was there and passed fine again when it came onto my selling... (Some of the work I did get done myself over the years but not all of it)

It should be obvious if anything is a major risk, but just ask here if unsure or don’t know what to do next.

 

[miss direct]

I've already signed loads of papers for the solicitors, I suppose one of those was related to searches. If there's something horrid on the survey then I can ask for a reduction, can't I? At the viewing, the EA told me a figure the sellers were looking for and I'm paying a few grand over that so there may be some wiggle room.

 

[hash tag]

Are you having a structural survey or a homebuyers report?
If you get it back and all ok there was a time when you could get personal searches done. They are a lot more expensive and would normally take about 48 hours. This is a waste of cash if your sellers are not ready to go yet. Do you know what their position is? Are they buying somewhere, is there a chain ahead of you?

 

[miss direct]

Homebuyers report.
No chain and they want to move fast. Apparently!

 

[mauvais]

I’m sure it won’t though and just be prepared for lots of scary wording. Most of it will be probably be nothing to worry about but I remember being a first time buyer on my own and reading the survey and wondering what the fuck I was getting myself into.

Hardly anything of what he thought was or could be a problem was in the 9 years I was there and passed fine again when it came onto my selling... (Some of the work I did get done myself over the years but not all of it)

It should be obvious if anything is a major risk, but just ask here if unsure or don’t know what to do next.

Surveys are valuable but they're also very risk-averse and will highlight lots of things that either are not actual problems (but could not be verified as such) or do not manifest as tangible issues in the short to medium term. They are very cautious about saying anything is fine in case it later turns out it isn't and then you sue them. Really you should run it by an experienced and sensible buyer to try and triage its findings. There is a subset of things like damp where if you were getting a mortgage, the mortgage company would insist on you getting them resolved within six months or whatever (or in severe cases refuse to lend), and you don't have that this time, but you could do with trying to ascertain what they would be.

 

[cybershot]

Homebuyers report.
No chain and they want to move fast. Apparently!

Well, once searches are instructed (the solicitors usually want this to be paid for upfront, but depends what deal you have) that will take a month or so to come back, and then your solicitor needs to scrutinise it and send any further inquiries. During that time they will ask for a load of other paperwork from them for you to review (fixtures, fittings & contents boundaries, EPC, central heating report, property information sheet, title plan, contract and transfer of ownership)
once all forms done, inquiries settled, a case of exchanging contracts (can no longer get out) and agreeing on completion date.

Basically, don't feel pressured by them 'wanting to move fast' You might be in a position to exchange contracts this time next month maybe if you are lucky, any earlier than you're very lucky to have two lots of solictors on the ball and a council etc conducting searches efficiently. Then after exchange it's 2-4 weeks after for the agreed completion date usually, you may get it quicker if they've already moved all their stuff out and you're in a position to move.

It all just takes time, can get overly stressful because humans are involved, but overall its not that complex a process. I think what grinds my gears is that solicitors can be so shit, but this is all some of them do, every freaking day, the exact same process over and over and they are still, fucking slow, and shit and can't manage to give you good instructions. Although saying that mine was superb, it was my sellers who was god awful. I wonder if my sellers ever did make an official complaint.

 

[belboid]

Surveys are valuable but they're also very risk-averse and will highlight lots of things that either are not actual problems

My brothers survey noted two issues. One was ‘rather old bath’ - it was an antique fitting and a feature. The other was ‘no back garden/yard as is common in back-to-back houses.’

 

[miss direct]

I hope my survey says something about the midget bath.

I don't really know any experienced buyers. The people I know in this country are either of a much older generation and bought their homes 30+ years ago, or are my age-ish, and are first time buyers like me, or still renting. Friends in other countries just confuse me (one told me a survey is a money grab...)

 

[miss direct]

Basically, don't feel pressured by them 'wanting to move fast' You might be in a position to exchange contracts this time next month maybe if you are lucky, any earlier than you're very lucky to have two lots of solictors on the ball and a council etc conducting searches efficiently. Then after exchange it's 2-4 weeks after for the agreed completion date usually, you may get it quicker if they've already moved all their stuff out and you're in a position to move.

It all just takes time, can get overly stressful because humans are involved, but overall its not that complex a process. I think what grinds my gears is that solicitors can be so shit, but this is all some of them do, every freaking day, the exact same process over and over and they are still, fucking slow, and shit and can't manage to give you good instructions. Although saying that mine was superb, it was my sellers who was god awful. I wonder if my sellers ever did make an official complaint.

Thank you for all of this detail, really appreciate it.

I don't feel pressured. I want to get on with it. I am so sick of renting and living in a room and dealing with the smell of smoke and cleaning up after people.

 

[hash tag]

miss direct it sound like you are having a homebuyers report, which is fine, that would probably be my choice, but, it's important to note it is not a survey.
I assume that this is something you are paying a valuer (not necessarily a surveyor) for. When you get a copy, if you have any doubts about anything, I'd suggest you speak to the valuer on the phone. The phone is a lot less committed and you are likely to get a much better feel for it by the way the valuer responds to any questions.

 

[muscovyduck]

I hope my survey says something about the midget bath.

I don't really know any experienced buyers. The people I know in this country are either of a much older generation and bought their homes 30+ years ago, or are my age-ish, and are first time buyers like me, or still renting. Friends in other countries just confuse me (one told me a survey is a money grab...)

those older ones might have helped or otherwise witnessed a younger relative buy a place more recently

ps am also routing for a midget bath mention in your survey

 

[Winot]

I think what grinds my gears is that solicitors can be so shit, but this is all some of them do, every freaking day, the exact same process over and over and they are still, fucking slow, and shit and can't manage to give you good instructions.

Because conveyancing has become a commodity and is offered at the cheapest possible price. Clients won’t pay more than a fixed amount so service levels are shit.

(((Solicitors)))

 

[miss direct]

miss direct it sound like you are having a homebuyers report, which is fine, that would probably be my choice, but, it's important to note it is not a survey.
I assume that this is something you are paying a valuer (not necessarily a surveyor) for. When you get a copy, if you have any doubts about anything, I'd suggest you speak to the valuer on the phone. The phone is a lot less committed and you are likely to get a much better feel for it by the way the valuer responds to any questions.

Sorry to sound thick but how is it not a survey? The guy even wrote "the survey is booked in for Thursday."

those older ones might have helped or otherwise witnessed a younger relative buy a place more recently

Very good point!

 

[miss direct]

Double checked my emails with the surveyor and he calls it a Home Buyer’s Survey (??)

 

[cybershot]

I hope my survey says something about the midget bath.

Even if it does I don't think it's a point to renegotiate on. Does it work? yes (I assume) therefore it serves it's purpose. If you want to change it it's going to be at your cost. My bathroom couldn't even fit a bath in it, it's just a shower room.

 

[cybershot]

Double checked my emails with the surveyor and he calls it a Home Buyer’s Survey (??)

It will be this that you've purchased and for a flat it will be fine:


RICS HomeBuyer Report

A HomeBuyer Report is a survey suitable for conventional properties in reasonable condition. Costs start at £400 on average.


This will help you find out if there are any structural problems, such as subsidence or damp, as well as any other unwelcome hidden issues inside and outside.


The HomeBuyer Report doesn’t look beyond the floorboards or behind the walls.


Some home-buyers’ reports include a property valuation, so you might be able to revise your offer if the survey reveals a lower price than the mortgage lender’s valuation.


If there’s no valuation included, you could use the report’s suggestions for repairs to renegotiate the price.


For example, if it’s going to cost you £5,000 to carry out work on the property’s damp walls, it’s reasonable to offer £5,000 less than the asking price.

 

[WouldBe]

My brothers survey noted two issues. One was ‘rather old bath’ - it was an antique fitting and a feature. The other was ‘no back garden/yard as is common in back-to-back houses.’

Any mention of a lack of helipad or swimming pool?

 

[hash tag]

Sorry to sound thick but how is it not a survey? The guy even wrote "the survey is booked in for Thursday."

The difference is terms of reference, small print, legalities and detail. A survey is something that you can rely on and it would be easier to take action if something that was covered in the survey went wrong.
A report is simply that, the valuer is telling you what they think of the property. I would hope that they would mention it if they thought there was a problem with the structure, damp etc. And go on to recommend further investigation.
You could take action for negligence in a valuation report but it's not so cut and dried.
I wouldn't get to hung up on it if I were you.

 

[Saunders]

Hey. I’ve been reading this thread but haven’t had anything useful to say. I saw you asked earlier how long until you could expect it’s completed. I know two people buying and two people selling. None are involved in long chains. Everything seems to be taking a long time at the moment, so I’d suggest you manage your expectations and think in terms of around 4 months before you can move in. I do hope it’s less than that, as it sounds like youre really looking forward to having your own space.

 

[mauvais]

For example, if it’s going to cost you £5,000 to carry out work on the property’s damp walls, it’s reasonable to offer £5,000 less than the asking price.

It is and it isn't. This might seem like pedantry but remember that we're talking to someone who hasn't been through this.

At one end of the spectrum, if the report showed up something hitherto unknown, unexpected and non-obvious that would cost £5k to resolve - and has to be resolved - then that would be fair.

But at the other, if it's just putting a number on something that is plain to see for any bidder, and therefore should have been at least partially taken into consideration when making the offer, or something that would be nice to fix but not disastrous if left, perhaps not so much. You could probably find enough theoretical stuff in a typical survey to devalue the property into the red.

It also depends on other things in the context that it exists in, like was the offer only marginally competitive and another bidder is not going to try and knock off such a figure, is this the last straw in pissing off the seller, etc etc.

 

[bimble]

Yep. It’s a second hand thing, a house (or a flat). Not reasonable to expect the person selling it to you to deduct all the money it would cost you to make it ‘as new’.
You and them both want the sale to go through so compromise is the key, I think.