First time buyers, offer accepted!..Now what?

[Ally_bassman]

Hi all,

 

Myself and my Girlfriend have finally had an offer accepted on a property after a few years of saving and waiting. :cocktail:

 

But now the stark realisation has set in that there is a long way to go and a lot that needs to be done.

 

Any advice / tips would be amazing. Also, if anyone has any reccomendations for solicitors / surveyors in the Stockport / Manchester / Northwest, that be great!

 

Thanks

 

 

[Dean]

Be there for each other as I would image it can be stressful. Support, and compromise. What's hers is her and what yours is hers haha! :p

[Sparkly]

Hey Ally,

 

Hope you are well mate, it can be a bit stressful, you will need patience, but it will in all likelihood be absolutely fine so remember that if you get frustrated ever.

 

It might be worth finding out which solicitors the seller is using, often a pitfall of housebuying is bad communication between solicitors.  A good solicitors will hold your hand through most of the process.

 

My 2nd recommendation would be not to scrimp on your survey - I know too many people that got stiffed on a house with "issues" because they only took a basic survey.  If you find a problem, it doesn't mean you wont proceed with the purchase but you can offset the cost of fixing it by requesting the vendor drop the price in light of the findings.

 

Will keep an eye on the thread and if you have any specific questions, I'm happy to take a PM.

 

Best of luck with it all.

 

Mark

[Aspman]

I'm the same but I'm doing it on my own this time.

 

Make a list.

 

Some things you can sort out in advance like insurance so get that done. Your solicitor will need a copy of your insurance doc that shows you've life cover to pay off the mortgage.

 

You'll want your building and contents to start on the day you move in.

 

Gas / electric / broadband (you'll have no internet for about 10 days).

 

Start clearning out your shoite and start getting boxes for packing.

 

Keep your paperwork in order.

 

All the above I've still to do

 

Think about a will, it's horrible and seems unnesessary, trust me it isn't.

Edited 8 April, 2016 by Aspman

[Ally_bassman]

Hey Ally,

 

Hope you are well mate, it can be a bit stressful, you will need patience, but it will in all likelihood be absolutely fine so remember that if you get frustrated ever.

 

It might be worth finding out which solicitors the seller is using, often a pitfall of housebuying is bad communication between solicitors.  A good solicitors will hold your hand through most of the process.

 

My 2nd recommendation would be not to scrimp on your survey - I know too many people that got stiffed on a house with "issues" because they only took a basic survey.  If you find a problem, it doesn't mean you wont proceed with the purchase but you can offset the cost of fixing it by requesting the vendor drop the price in light of the findings.

 

Will keep an eye on the thread and if you have any specific questions, I'm happy to take a PM.

 

Best of luck with it all.

 

Mark

 

 

Hi Mark,

 

long time no see...on here! All is well thanks, hope all is well with you? I see that you've left the Skoda fold?

 

Thanks for the words of advice, that's a good idea about the solicitors. The vendor seems like a decent bloke and was fairly open about the property (he did the viewing himself) and was happy for us to pop round for further viewings etc. I might pop round and ask him about his solicitors.

 

Yes a good survey is a must. The house is around 40 years old but has recently been 'modernised' by the current owner. So even though it looks great, the paint and new carpets could be hiding horrors!

 

Thanks again :sun:

[Aspman]

Basic survey is just a valuation really. If you want things really looked at you'll need to pay a lot more.

[Ally_bassman]

I'm the same but I'm doing it on my own this time.

 

Make a list.

 

Some things you can sort out in advance like insurance so get that done. Your solicitor will need a copy of your insurance doc that shows you've life cover to pay off the mortgage.

 

You'll want your building and contents to start on the day you move in.

 

Gas / electric / broadband (you'll have no internet for about 10 days).

 

Start clearning out your shoite and start getting boxes for packing.

 

Keep your paperwork in order.

 

All the above I've still to do

 

Think about a will, it's horrible and seems unnesessary, trust me it isn't.

 

 

Cheers Aspman, great advice thanks.

 

Ahh yes, paper work.... my favourite!

 

This weekend will involve a few hours of quote getting!

 

All the best of luck with your move. :sun:

[Dr Zoidberg]

Be prepared to chase the solicitors twice a week for updates.

[Paul007]

Make sure your planning permissions/building regs permissions are in place. Your solicitor should sort that out and flag up any issues. We used Lancashire Law.

http://www.lancslaw.co.uk/contact.php

Chasing solicitors in my experience adds to the bill, p's them off and puts you further down the pile. Our solicitor reserved Friday's for exchanges/completions.

[VWD]

Hi Mark,

 

long time no see...on here! All is well thanks, hope all is well with you? I see that you've left the Skoda fold?

 

Thanks for the words of advice, that's a good idea about the solicitors. The vendor seems like a decent bloke and was fairly open about the property (he did the viewing himself) and was happy for us to pop round for further viewings etc. I might pop round and ask him about his solicitors.

 

Yes a good survey is a must. The house is around 40 years old but has recently been 'modernised' by the current owner. So even though it looks great, the paint and new carpets could be hiding horrors!

 

Thanks agai

Decent survey is a must, especially if there's been modernisations etc. ( unless vendor has receipts showing work done by reputable firm). Daughter bought  some years ago ,only to find  most or the work had been done by previous owner. Central heating boiler had been installed with flue below a window which could be opened. Lots of other minor faults came to light ( talking to neighbours they found  previous owner had don most of it himself, and badly). Wiring had been played with and looked like someone had done it using a copy of 1940 Regs. Considering it had been an ex LA property, and not that old ,that says a lot . Son rented one across the road from me-again ex LA ,and again work done by owner ,who I'd suggest was jack of all trades and master of none.

From my experience of double figure moves ,one suggestion ( often forgotten when packing ) is to CLEARLY LABEL  the boxes, and take kettle, tea/coffee /milk /sugar , basic hand tools in the car with you. That way you know what's in what box, where the basic tools are and are able to make a cuppa without a search.

[Ally_bassman]

Instructed a solicitor now, I got some quotes and i've gone for the firm that get's the best feedback.

 

They've sent us all of the client car documents with lot's of information to fill out...

 

We need to provide them with certified copies of our ID's. I can see this being a pain in the but already! I need to go an physically see someone so they can scan / sign a copy of my passport to testify that it is indeed me!

 

Other news,

 

Our first broker has been absoloute garbage and has not got back to us with anything yet after promising us he would. I was quite prepared to pay him good money to help us through the process as my partner is self employed and it's made some things tricky so far. I made it quite clear that the estate agent was chasing us for a DIP (decision in principle) so that they could show the vendor that we mean business and the house can be taken off the market. We are by no means stretching our budget so it should be fairly striaght forward to get it and 'shut the estate agent up' He's also go us one before, the only difference is now we have a bigger deposit.

 

After over 48 hours of waiting I decided to try London & County who are an online / phone broker who are free. After giving our details to them, they were able to get us our DIP in 20 minutes!

 

Safe to say broker number 1 has been binned.

 

I can already see why they say it's stressful. :peek:

[sigarland1987]

It is stressful, but very much worth it once you have the keys and realise you own your own space. We went through this 3 years ago and don't regret it. We were really lucky with our estate agents who were part of a local firm that had been round for years and as such were there for us throughout the buying process, through them we got our solicitors, again very similar situation in that we were helped and they were happy to answer questions. 

 

What everyone has said above is true, with regards for surveys, it is worth paying the bit extra to get the full surveys, my friends have just bought a house and didn't do the full surveys and now are finding out about the wonders of damp in their home. 

 

I hope the people you are buying from are similar to ours, in that when we picked up the keys and walked into our house for the first time there was a card and a bottle of wine, it was a really nice end to the whole process.

[Aspman]

If everyone behaves it's not that difficult or stressful.

 

But it does seem to be a common occurrence for some party (inc the solicitors) to be a ****.

 

The older couple I'm buying from are happy to be straight and we're in fairly regular contact, their solicitor seems to be a bit of an arse however. Any issues will come from him not the sellers.

[Sippo]

I would give anyone advice in that do NOT buy anything for the property until you have the keys in your hand.

 

Don't want to scare you but we lost around £10k once. We exchanged on the property, and never received the keys (completed) as the seller was in negative equity. 

 

It was a nightmare, and more than likely, a one off.

 

It's just a long drawn out process buying/selling a house.

[Ally_bassman]

Thanks for all of the responses so far,

 

I thought I would keep this thread updated incase it is of any help to members that are first time buyers and are about to start the process themselves.

 

So the broker found us a suitable deal with Natwest, the application was submitted on Wednesday 13/4/16 and the credit check / score was approved. The application has now gone to the Natwest underwriters.

 

14/3/16 I got a call from the estate agent to advise that the valuation survey has been booked for Saturday 16/4/16 (thank you Vendor!) She sounded suprised that it has happened so quickly...(me too)

 

The broker contacted me to advise that the Natwest underwriters reguested more documentation:

- 3 months pay slips for me

- 3 months bank statements

- proof of savings

- Letter confirming that our gifted deposit from parents is indeed a gift

- 3 months bank statements from Aimee for her current and business account (self employed)

 

15/3/16 - All documentation submitted to broker via email, she said she will advise it there were any problems. Update: she has now forwarded this onto the underwriters.

 

I was expecting a fight, but everything is going smoothly....... so far. :peek:

Edited 15 April, 2016 by Ally_bassman

[Aspman]

I got some more paperwork on mine through yesterday.

 

Not so sure about Englandshire but I've been recommended to have an environmental report done which checks the area for flood risk and other environmental factors etc. Gives a get out of jail card should anything pop up. It's only £50 so I'm getting it done.

 

Another horrible thing to get your solicitor to do is to make sure you have a survivor clause in the deeds. That will mean in the event of either of you departing this mortal coil early the deeds will automatically transfer to a single name without any extra work.

[DanHarper]

We need to provide them with certified copies of our ID's. I can see this being a pain in the but already! I need to go an physically see someone so they can scan / sign a copy of my passport to testify that it is indeed me!

 

They should be able to do this for you! If not you need a professional, e.g. Solicitor, doctor, registered IFA or such like to see your original ID and sign the copy.

[Aspman]

They should be able to do this for you! If not you need a professional, e.g. Solicitor, doctor, registered IFA or such like to see your original ID and sign the copy.

 

Just about any traditional professional will do, so teachers accountants etc too.

[DanHarper]

Just about any traditional professional will do, so teachers accountants etc too.

 

And police men, bank managers etc.

 

How many can you name kids? :P

[Aspman]

And police men, bank managers etc.

 

How many can you name kids? :p

 

but not your professional government artists

[Ally_bassman]

Got the letter on Saturday advising that our Mortgage has been aprroved and they are offering the amount we need! :dance:

 

Me and Ms Ally_bassman went for our 12 week scan yesterday, all went well and found out that she is actually over 13 weeks pregnant! Due date is around Haloween :sun:

 

Everything seems to be happening at once! Scary, but exciting.

Edited 26 April, 2016 by Ally_bassman

[Furbytom]

Got the letter on Saturday advising that our Mortgage has been aprroved and they are offering the amount we need! :dance:

Me and Ms Ally_bassman went for our 12 week scan yesterday, all went well and found out that she is actually over 13 weeks pregnant! Due date is around Haloween :sun:

Everything seems to be happening at once! Scary, but exciting.

Congrats on both counts mate! :-)

[Ally_bassman]

Congrats on both counts mate! :-)

 

Cheers Tom!

[DanGum]

I bought my first house a couple of years ago was stressful experience. Things I learnt was to find out who the sellers solicitors are. The sellers were using some Premier property lawyer firm who were useless and based 100 miles away. I used a local firm so when things needed signing or anything checking over I could pop into town that day or the next day and sort it.

Keep a decent file of all documents and just keep organised really. It's a very exciting time and when the ball gets rolling it happens quickly. Good luck

[Ally_bassman]

Thought I would update this as we are now moved in! :dance:

 

After initially moving quite fast with getting our Mortgage application approved and then recieving an offer...

 

Things slowed down as our vendors were dragging their heels with finding a new house...Well at the end of May we were told that they had reserved a plot on a new build house that wasn't due to be complete until November..   With a Baby due in October this was a nightmare waiting to happen! Luckily before I could even mention the word 'rent' or 'Pull out' The EA informed us that the vendors were happy to move out into rented accomodation but wanted to exchange and complete ASAP so they only needed to get a 6 month lease.

 

The following weeks were a mad blur of dealing with a stubborn Vendor and an exteremly thorough and pedantic Solicitor (don't get me started on a £20 FENSA certificate!!!).. but we got there in the end and completed on Friday June 24.

 

Now that we are now happily moved in, I can say that yes, buying our first home has been a stressful, expensive and emotional time. And no, I will not be moving again anytime soon!!!