Buying a property: websites not to miss

Most people buying a property will be familiar with websites such as Rightmove and Zoopla.  But much more information is needed before making a decision whether to buy a particular property or not.  How do you go about choosing a solicitor or surveyor?  How do you know whether there is asbestos in the property you plan to buy and what should you do about it?  What do you need to know if you are buying a property to let?  Where can you find information if the house you propose to buy is in a Conservation Area?  What should you do if bats are roosting in your new home?  How do you identify Japanese Knotweed?

General advice on buying and selling a house

Visit https://www.which.co.uk/money/mortgages-and-property/first-time-buyers/buying-a-home/how-to-buy-a-house-alm0r9l4yf5x  for general advice on the house buying process.  This site includes information on applying for a mortgage, making an offer, appointing a solicitor, arranging a survey, arranging insurance, exchanging contracts and more.

For further general advice visit also https://www.money.co.uk/guides/how-to-buy-a-house.htm

For advice on selling your home, including choosing between a local estate agent and an online estate agent, visit  http://www.rics.org/uk/knowledge/consumer-guides/selling-your-home/

 

Searching for a property and researching selling prices

Rightmove is a widely used website when buying a property.  It allows you to browse properties on the market and view photos and floor plans.  Rightmove also allows you to register for alerts for new properties coming onto the market in a chosen area.  There is also a facility under “House Prices” to check sold prices, which may be helpful for checking the selling prices of properties in your chosen area.  Rightmove has an App for phones and tablets and is useful for when you are on the go.  Visit  https://www.rightmove.co.uk/

Zoopla is an alternative site for searching for properties on the market and for checking sold prices.  It also includes statistics on property values and trends in a chosen area.  Visit  http://www.zoopla.co.uk/

If you are selling a property, don’t forget to check www.nethouseprices.com  for sold prices in your area.  If similar properties have sold recently it may indicate whether the asking price for your property is realistic.

 

Energy Performance Certificate (EPC)

Visit  https://www.gov.uk/buy-sell-your-home/energy-performance-certificates to find out which properties require an EPC and which properties are exempt.

Visit https://www.epcregister.com/searchAssessor.html to find a Domestic Energy Assessor to produce an EPC before marketing your property.

 

Appointing a Surveyor when buying a property

The Royal Institution of Chartered Surveyors (RICS) has a search facility to find a surveyor.  The site enables you to enter a town or postcode and a surveying service, eg, Residential Surveys, Energy Performance Certificates (EPCs), RICS HomeBuyer Reports, etc.  To find a suitably qualified surveyor in your chosen area visit  https://www.ricsfirms.com/

For information on the benefits of having a survey when buying a property, and different types of surveys visit  http://www.rics.org/uk/knowledge/consumer-guides/home-surveys/

 

Choosing a Solicitor

For information on choosing a solicitor visit  https://www.which.co.uk/conveyancing/conveyancing-process/england-and-wales/find-a-solicitor/  This site provides information on solicitors and conveyancers, gives an indication of typical fees and has a list of FAQs.

 

Asbestos

Any house built or refurbished before 2000 has the possibility of having asbestos containing materials (ACMs).  For information on where asbestos containing materials can be found in a property visit  http://www.hse.gov.uk/asbestos/building.htm

If you are buying a property which contains asbestos containing materials visit  http://www.hse.gov.uk/asbestos/member-of-public.htm

 

Flooding

There has been an increased awareness of flooding in recent years.  For information on flood risk from rivers and sea, flood risk from surface water and flood risk from reservoirs visit

https://flood-warning-information.service.gov.uk/long-term-flood-risk/map

 

Bats

Many rural properties have bats.  If you are buying a property where bats are present visit http://www.bats.org.uk/  and http://www.bats.org.uk/data/files/BatsandBuildings_2012.pdf

 

Buy to Let

If you are buying a property to let then it is essential to visit https://www.gov.uk/private-renting/  for information on rights and responsibilities, tenancy deposits, houses in multiple occupation, etc.

For further information on becoming a landlord, appointing a letting agent, information on buy to let mortgages and insurance visit  https://www.which.co.uk/money/mortgages-and-property/buy-to-let

 

Conservation Areas and Listed Buildings

If you are buying a property in a Conservation Area or a property which is Listed, visit the Historic England website at  https://historicengland.org.uk/advice/your-home/owning-historic-property/conservation-area/

 

Japanese Knotweed

For information on  identification of Japanese Knotweed, prevention of spread, and disposal, visit:

https://www.gov.uk/guidance/prevent-japanese-knotweed-from-spreading

 

Mobile phone coverage

https://www.which.co.uk/reviews/mobile-phone-providers/article/mobile-phone-coverage-map

Not something to be overlooked.  Use this link to check the mobile phone coverage map.  You can enter a particular location (town or postcode) although some areas have more results than others.  Many service providers also produce their own data.

 

Broadband speed

Don’t forget to check the estimated broadband speed for a property before you decide to buy.  Use this link to enter your postcode or location to check any measured download and upload speeds.  Again, some areas have more results than others. https://www.uswitch.com/broadband/speedtest/streetstats/

 

And of course, don’t forget to visit other informative posts on this site including:

Is a mortgage valuation the same as a survey?

Buy to let property:  choosing, managing, student lets and landlord’s responsibilities.

Instructing a surveyor when buying a house or flat. 

What should I do after having a survey?

Should I have a survey before selling my house?

 

 

 

Share This:

Renegotiating the purchase price of a property following a survey

Reasons for renegotiating the purchase price of a property

Renegotiating the purchase price of a property is an obvious thing to consider if your house survey reveals unexpected defects, particularly if they are going to be costly to repair.  Most purchasers would make an offer “subject to survey”, making it clear that firstly, they plan to have a survey, and secondly, if the survey reveals defects which they were not aware of they may consider revising their offer.   Visit the following:  https://www.gov.uk/buy-sell-your-home/offers

Renegotiating the purchase price of a property may also be necessary if you are seeking a mortgage and the mortgage valuation is less than the previously agreed purchase price.

 

How to renegotiate the purchase price

Renegotiating the purchase price of a property would typically be done through the estate agent.

After receiving the survey report, the buyer should obtain cost estimates from contractors for any recommended works prior to commitment to purchase.  The estimates can be used as a basis for negotiation.

It is important to remember that the seller is under no obligation to reduce the price, even if works are required.  Most sellers would have a minimum price for which they are prepared to sell their property.  This may be based on how much they need to repay a mortgage or how much they need to be able to buy their next home.  However, some purchasers may be in a position to agree a reduced price in order to achieve a sale.  The selling agent may know the vendor’s position and should be able to advise the buyer whether there is any room for negotiation.

Sometimes the selling agent or vendor will ask to see a copy of the survey report.  The survey report has been prepared for the buyer, and the buyer is under no obligation to provide this to anyone.  However, in some cases it may be helpful to show extracts of the report, along with quotations for the works, but this is entirely the buyer’s choice.

If the reason for renegotiating the purchase price is because the mortgage valuation is lower than the previously agreed purchase price then the purchaser may not be able to proceed with the purchase unless the price is lowered or the buyer has additional funds to put towards the purchase.

The success of negotiations will depend on a number of factors including the seller’s financial position, whether the seller needs to sell the property and whether there are any other potential purchasers on the scene who are in a position to proceed and are prepared to pay a higher price.

Remember that the seller does not have to reduce the price and may even decide to not sell the property if it does achieve  a particular selling price.  The success of any negotiation depends not only on the cost of any works but also on the individual circumstances of both the buyer and seller.

 

buying and selling a house

Share This: