omega0684
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| posted on 13/9/13 at 07:17 PM |
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First time House Viewing tomorrow
Evening All,
I'm off to see my first house viewing tomorrow, its only three doors down but the guy has disappeared and the house is being repo'd.
i have seen some photo's on the estate agents photos and it looks like it needs some work. the going price in the area is 165k-170k and its on
the market for 125k. i reckon that it needs easily 10k spent on it to make it livable.
so what sort of things should i be asking? my dad is going to come with me, but im worried about things like electrics, central heating, the boiler,
rafters etc.
ATB Alex
I love Pinto's, even if i did get mine from P&O!
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Ben_Copeland
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| posted on 13/9/13 at 07:53 PM |
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If its repo'd just bear in mind they might want you to complete in 30days or they'll put it back up for sale or auction it.
Our house was a repo and we had a constant battle with estate agents and lawyers etc getting them to hurry up, and I mean 2-3 phone calls aday.
Otherwise they would of lost the house for us
Then with a week to go they'll readvertise it to see if they can get more money 
[Edited on 13/9/13 by Ben_Copeland]
Ben
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chrism
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| posted on 13/9/13 at 08:05 PM |
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Depending on the reposession agent buying one can be a pain in the arse.
Make sure youve got your mortgage sorted as usually you have to exchange contracts within 30 days of your offer, and be prepared to fight if its a
bargain as the agent wants to get as much money back for the bank the repossessed so they will accept offers higher than yours before youve exchanged
contracts.
My current house was bought as a repossession and my original offer was £86k which they accepted, but before exchanging contracts twice other people
made offers so I ended up paying £95k in the end, but the last sale price of the house previously was £140k at the market peak so was still a bargain,
but its something you need to be aware off when putting in an offer.
Usually all the boilers and electrics will have stickers saying "Do not Use" or "Out of service" or something more worrying
but usually its just there as a disclaimer, there were all over my house on the boiler, electrics fuse box and gas fire but they all worked ok, except
someone had taken all of the fuse holders out of the fuse box (Old Style Box) so I had to replace with a new consumer unit.
One thing to be aware of is the contract usually has clauses removing all responsibility from the mortgage company for any faults found, etc. so youve
got no combacks if you find major problems with the property after sale so might be worthwhile spending the extra to get a full survey.
Also you usually have to pay the sellers solicitor fees aswell so theres an extra cost there to be aware of.
If it's a good property at a bargain price it can be worth it.
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A little hard work never killed anyone, but why take the risk!
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perksy
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| posted on 13/9/13 at 08:45 PM |
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Internal condition can sometimes be an issue but you just have to see it as a blank canvas and then imagine it finished.
I bought one years ago and as somebody else was also interested I had to go through a thing called a 'contract race'
Basically whoever get to the contracts stage first gets the house.
Luckily Nationwide who i was using saw it as a 'staff challenge' and really pulled the stops out to secure it for me 
They can be a bargain, just do your homework and work out what it is going to cost to put right and factor in some cash for unforeseen stuff.
Good luck
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rgrs
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| posted on 13/9/13 at 10:38 PM |
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When viewing a house, pull up outside and then have a good look at the exterior, start from the top and work down.
Start with the roof should be nice and uniform. Look for missing/broken tiles and missing pointing.
If the roofs good start looking at the brickwork, look along the walls checking for movement/bulging, pay attention to brickwork above the windows
look for cracking.
Don't just look at your prospective property look next door especially if its terraced/semi/link.
Look for trees/hedges and there proximity to the house, if there are any look for signs of damage caused by roots or if on clay,heave due to the tree
pulling water.
Speak to the neighbours and ask if they have had any issues.
If all's well then go inside. It's all to easy to head inside first and be excited by what's inside and then be blinded to
what's happkening outside.
Once inside look at the floors(have they dropped) doorways and windows for diagonal cracking especially.
Make a note of the boiler make/ model and look it up on line later.
Look at the fuse board has it got re-wire able fuses ?
Don't underestimate your Re-furb. Costs there is a difference between 'habital' and somewhere you want to live for a while.
Ignore all decor, it will probably not be to your taste but decorating is one of the smaller costs.
If in any doubt get a full survey, Although the costs might seem steep it can save so so much in the long run
If you have property to sell as part of the purchase, I'm afraid you will not be able to meet the timescales required.
Hth roger
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Ben_Copeland
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| posted on 14/9/13 at 05:57 AM |
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quote:
Originally posted by rgrs
If you have property to sell as part of the purchase, I'm afraid you will not be able to meet the timescales required.
Hth roger
We sold ours and completed in 30 days but it does help to be in contact with the buyers!!
Ben
Locost Map on Google Maps
Z20LET Astra Turbo, into a Haynes
Roadster
Enter Your Details Here
http://www.facebook.com/EquinoxProducts for all your bodywork needs!
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omega0684
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| posted on 14/9/13 at 07:49 AM |
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some great help there guys, thanks very much for all your input.
im off th have a look at the exterior now, that the luxury of only living 3 houses away, i see the house every day.
the estate agent is coming at 9:30 so it gives me plentry of time to have a mooch.
I love Pinto's, even if i did get mine from P&O!
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