Signing contracts for purchase of house

meme74 · 31-07-2015 9:37am #1

Hey guys just looking for any tips/advice anyone can give on anything specific to look out for in a contract when buying a house before signing or any clauses you would recommend to include? Will obviously be getting advice from solicitor also.

Thanks in advance

Seth Brundle · 31-07-2015 9:41am

In older areas it is prudent to check on rights of way (for laneways) and ground leases.
Also confirm that no planning irregularities are present.
Your solicitor should know to look for these.

meme74 · 31-07-2015 9:43am

Thanks kbannon. The house is in an estate and the estate was built roughly 6 years ago so we shouldnt have too much issue with anything tricky like right of ways etc. thankfully.

TheDriver · 31-07-2015 9:48am

What's included e.g. Appliances...

ted1 · 31-07-2015 9:52am

A closing date with penalties

meme74 · 31-07-2015 10:42am

Thanks Ted and thedriver, had both of those on my list, solicitor advised against penalty clause as its very difficult to enforce and he basically said we would have very little recourse if they did go over. Also, closing date is a bit away due to a chain so he reckons its plenty of time. Hoping everything will continue to run smoothly and we sghould be fine.

NinjaTruncs · 31-07-2015 10:48am

Make sure there is a clause subject to mortgage offer. When I sold my apartment my solicitor didn't include one and then pointed out to me she was surprised the buyers solicitor didn't ask for it to be added.

meme74 · 31-07-2015 10:59am

Thanks Ninja, you would think alright that this is one that would be very stadard but I have heard of vendors excluding this from the contract and sellers not picking up on it. Hopefully your mortgage was drawn down sucessfully and you didnt get out by this!

MarkAnthony · 31-07-2015 11:37am

Loan Clause, Recision Clause. Your solicitor should really be advising on this.

meme74 · 31-07-2015 1:26pm

Markanthony, as I said my solicitor will advise when I meet him next week but was looking for anything that the solicitor may not always include as standard.

MarkAnthony · 31-07-2015 3:07pm

meme74 wrote: »

Markanthony, as I said my solicitor will advise when I meet him next week but was looking for anything that the solicitor may not always include as standard.

The problem with tacking on a load of non-standard conditions is it will delay things as the otherside wonder whats going on. Be guided by your solicitor; a little knowledge is sometimes a ridiculous thing. You don't want to be sat there going though 101 different suggestions that the solicitor will have to explain and break down for you, most would not include that sort of apointment in a fixed fee.

Just make sure you're covered to come out of the sale is you lose funding. After that you'd be looking at orders of specific performance but really domestic sales rarely go there.

Signing contracts for purchase of house

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