Property Knowledge Property Questions & Answers
parties. What can I do to boost the chances of having an offer accepted?
only a few first time buyer’s properties being available, it is most important that you are prepared financially, to confirm your status, in order that when you see the right property, you can make an offer that will be accepted. Te first priority is to obtain a copy of a Mortgage Agreement in Principle Certificate from your Bank or Building Society and in addition, provide a Bank Statement to show you have the deposit funds available.
Q A
Having this information, known as ‘Proof of Funding’, the Estate Agent and the Vendor of the property you intend to offer, will take your offer seriously, you have demonstrated your seriousness in buying, placing you in a prime position for your offer to be accepted.
Q A
Is a mortgage survey from a Bank or Building Society sufficient when purchasing a home?
Most purchasers obtain a mortgage to finance their new home and rely solely
on this, to decide if they should proceed to buy. But be warned, a Mortgage Valuation Report is prepared for your Lender to help them decide if your home is one they wish to lend on and if it offers suitable security.
MY NEIGHBOURS RENEWED THEIR FENCING,
BUT I THINK IT IS ON MY LAND. WHAT SHOULD I DO?
When competing in a market with
I am trying to buy my first home but seem to lose out to other competing
Te safest way to reach an informed decision, is to have a professional Survey and Valuation of the property by a qualified member of the Royal Institution of Chartered Surveyors (RICS). It is like a full ‘health check’ for buildings, that could possibly save you thousands in the future.
should I do?
A Q
A minor disagreement can quickly become a full scale dispute involving
solicitors’ letters and threats of court action which can lead to spiralling legal costs. Te key to resolving the concerns is to obtain a specialist to look at all aspects of the problem and advise on whether or not you have a case. In the first instance, this advice can be from either a Chartered Land Surveyor or a Chartered Surveyor specialising in boundary disputes. Chartered Surveyors, specialising in boundaries, are professional advisors with relevant knowledge of both property issues and the law.
My neighbours renewed their fencing, but I think it is on my land. What
Tey will look at the problem, prepare any technical data and may help resolve the dispute at an early stage and if necessary, provide a Court with appropriate advice and information needed to make a judgement. Tey will also advise on alternative dispute resolution procedures, which would avoid the need to go to Court. A Chartered Land Surveyor will not only survey the land, check the deeds and the plans attached to them but will refer to historical documents and aerial photographs. Taking specialist advice from the RICS, could save you thousands of pounds of legal costs and resolve the dispute swiſtly. For more information visit
www.RICS.org/boundarydisputes.
property?
One in four sales in the UK fails to complete, oſten because of problems that arise during the selling process.
Q A
As a Vendor (Owner) you can reduce this risk by being proactive and by placing a few procedures in place before you instruct your Estate Agent to start marketing your property. Instruct your solicitor, well before marketing, so that they can prepare a draſt contract in advance to a buyer being found. In addition, complete the Law Society Property Questionnaire and Vendor’s Fixtures & Fittings Enquiry Form. Supply your Solicitor with Planning Permissions/Completion Certificates for any extensions/ improvement works carried out at your property. If the property you are selling is a flat or of Leasehold tenure, you will need to ensure that the Ground Rent and Management Service Charges are up to date and that the details of the Management Company are relayed to your solicitor. By completing the pre-sale report with your Solicitor, will speed up the selling transaction by two weeks on average, more importantly, the sale once a buyer has been found, will run smoothly and will minimise the possibility of a buyer withdrawing.
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How can I fast track the process of selling, once I have a buyer for my
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