Hints & Tips
(a) Choosing a property -
- View it at different times of day and evening and at weekends. The tree-lined avenue at day could be a red-light district at night! Or a right of way could exist that is not on the title deeds. Check to ensure there are no gates/gaps in boundaries leading to and from other properties. If there are - tell us about them!
- If you are interested in a flat, ask who owns the freehold of the building. Often it is a management company comprising the flat owners themselves and sometimes the company has been struck off at Companies House because none of the flat owners have dealt with Companies House requirements. Let us make preliminary checks before you incur expensive survey fees etc
- A house by a river is obviously attractive but do refer the postcode to your insurance company to check they will insure it against flooding
- Joint owners - consider % split of ownership now to avoid last minute arguments
(b) Having chosen
- If you are buying and selling, your selling agent may be willing to advise on the value of the property/ies that you wish to buy or sometimes will negotiate it for you
- If you are having a mortgage, the valuer for your lender may be willing to do a survey for you at a discounted rate if the valuation and survey can be done at the same time
- Have you budgeted for SDLT/LR fees? Stamp Duty Land Tax becomes payable on properties costing over £125,000 at 1% of the purchase price; 3% is payable for properties costing more than £250,000 and 4% for properties over £500,000.. The Inland Revenue are wise to fictitious apportionments for curtains, carpets etc and say they do check it out!
(c) Intending to sell ?
- Contact your solicitor. He/she will advise you on the need for a Home Information Pack and can very often arrange this for you.
(d) Sold your house?
- If you tell your solicitor of your intention to sell, your solicitor will be ready to issue the sale contract immediately after a buyer is found. If you do not, even with a HIPS pack there could be several days delay whilst deeds are obtained, property information forms completed, etc
- Sometimes removal companies will charge less for a removal in the middle of the week
(e) Completion Day
- However nice your buyer is:
(a) don't give him the keys until we confirm we have the money and
(b) tell us about carpets etc you are selling to him so that we can collect the money. We do not charge extra for collecting it, but we do charge for suing those buyers whose cheque bounces or who simply forget to pay you
- If you are involved in a long chain, bear in mind that each solicitor along that chain has to receive the money in from their client's sale before they can send the money out again for their client's purchase. As a result it can be late afternoon before the keys are available for you and any benefit earned by your removal company starting at 6.00am will be lost
- Don't pack your medication!
- Don't forget to notify your, bank, building society, credit card companies, insurance companies, DVLA, doctors, dentists etc of your change of address
