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Things for a buyer to do to aid a smooth purchase

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  • 14-11-2020 2:10pm
    #1
    antiskeptic
    Registered Users Posts: 9,555 ✭✭✭


    Thought to list a few things a buyer could do to speed up a purchase and reduce the risk of gazumping/investing in something that falls through. Others might add?

    1. Loan approval / proof of funds ready

    2. Before sale agree. Has the seller got:

    - BER cert

    - certification for any extension (no matter how old) re: its conformance to planning and regs (at the time it was built)

    - cert for any steelwork used if walls were opened up to expand internal rooms. Certainly if the house is a recent refurb. Even photos to show the work is sound

    - folio. Look at it yourself: the map match the property?

    - leasehold buy out in the event the title is leasehold.

    - solicitor details tee'd up

    - surveyor chosen and tee'd up.

    - probate through (don't touch unless probate in hand. Indeed, a first question to ask the e.a.)

    The less the vendor has, the longer the conveyancing is going to take. Things that crop up in dribs and drabs add weeks each.time as the solicitors drip feed requirements and satisfaction of requirements back and forth.

    The aim is to speed things along so that there's less that can happen to cause the sale to fall through (such as a gazump)

    Other thoughts:

    - consider having an electrician in to assess. A new fuseboard and sockets can make an ancient electrical system appear fresh. A surveyor won't dig deeper than that.

    - a chimney survey on older properties. Chimney fires wreck flues and can render them dangerous. Expensive to repair.

    - check out the age of the boiler. 10 years for a gas and your getting to renewal.

    - consider your own BER. I bought a D2 and had it assessed myself..came up as near F. The vendors BER guy had rated a dusting of broken up old glass fibre insulation in the attic as a foot thick blanket. Or blocking a fireplace up. Adds a grade or so - but you might want to use the fireplace and don't realise your D is actually an E, due to this trick.


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    #2
    Dolbhad
    Registered Users Posts: 782 ✭✭✭Dolbhad


    antiskeptic wrote: »
    Thought to list a few things a buyer could do to speed up a purchase and reduce the risk of gazumping/investing in something that falls through. Others might add?

    1. Loan approval / proof of funds ready

    2. Before sale agree. Has the seller got:

    - BER cert

    - certification for any extension (no matter how old) re: its conformance to planning and regs (at the time it was built)

    - cert for any steelwork used if walls were opened up to expand internal rooms. Certainly if the house is a recent refurb. Even photos to show the work is sound

    - folio. Look at it yourself: the map match the property?

    - leasehold buy out in the event the title is leasehold.

    - solicitor details tee'd up

    - surveyor chosen and tee'd up.

    - probate through (don't touch unless probate in hand. Indeed, a first question to ask the e.a.)

    The less the vendor has, the longer the conveyancing is going to take. Things that crop up in dribs and drabs add weeks each.time as the solicitors drip feed requirements and satisfaction of requirements back and forth.

    The aim is to speed things along so that there's less that can happen to cause the sale to fall through (such as a gazump)

    Other thoughts:

    - consider having an electrician in to assess. A new fuseboard and sockets can make an ancient electrical system appear fresh. A surveyor won't dig deeper than that.

    - a chimney survey on older properties. Chimney fires wreck flues and can render them dangerous. Expensive to repair.

    - check out the age of the boiler. 10 years for a gas and your getting to renewal.

    - consider your own BER. I bought a D2 and had it assessed myself..came up as near F. The vendors BER guy had rated a dusting of broken up old glass fibre insulation in the attic as a foot thick blanket. Or blocking a fireplace up. Adds a grade or so - but you might want to use the fireplace and don't realise your D is actually an E, due to this trick.


    I’d liked to add to your other thoughts (which are very good ones) is drains testing. Most engineers report say do drains testing so line that up (Cork has only two companies and we had to wait 3 weeks for them to go out). It showed all the drains needs to be replaced so it’s well worth the €350 including VAT we paid.

    Also has soon as your sale agreed let your solicitor know if anything stands out Eg extensions. So they can write to other side and ask for this info so again it’s not given in bits and pieces.

    Also line up life and house insurance as soon as possible. Life insurance can take longer than you may think of you have any pre existing conditions and doctors report may be needed.


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    #3
    antiskeptic
    Registered Users Posts: 9,555 ✭✭✭antiskeptic


    Dolbhad wrote: »
    I’d liked to add to your other thoughts (which are very good ones) is drains testing. Most engineers report say do drains testing so line that up (Cork has only two companies and we had to wait 3 weeks for them to go out). It showed all the drains needs to be replaced so it’s well worth the €350 including VAT we paid.

    Also has soon as your sale agreed let your solicitor know if anything stands out Ie extensions. So they can write to other side and ask for this info so again it’s not given in bits and pieces.

    Also line up life and house insurance as soon as possible. Life insurance can take longer than you may think of you have any pre existing conditions and doctors report may be needed.

    Agreed on drains. Especially when you have extensions along the road built over drains

    Builders can make a right mess so if an extension on the house you certainly ought to have a look.

    Asking the neighbours is to be advised. Note, that if there is a problem downstream and your first in line then the problem is often going to manifest with you first and you get to call the drain clearing co.


    A key take away is to avoid bits and pieces drip feeding. It seems that every drip will sit in the solicitors inbox, file opened, letter sent, ditto at the other side solicitor. All adding to time (and presumably cost)


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    #4
    dev_ire
    Registered Users Posts: 157 ✭✭dev_ire


    The solicitors as the professionals just ideally be driving this, but as this is an archaic process by all means try and baby them as in my experience they won't bother trying to make this smooth as it is back burner thing that they can spend little time on over weeks or months or do quickly yet get paid the same.


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    #5
    Ray Palmer
    Registered Users Posts: 8,364 ✭✭✭Ray Palmer


    There are several issues with your suggestions.
    BER is meant to be done before the house is even advertised so a mute point.
    Any and all surveys paid for by the seller are not considered trust worthy and you are told to get your own by any reputable lawyer.
    The lawyer gets paid on the sale of the house so don’t do the work until a sale is happening.

    So overall none of what you are saying even seems vaguely likely. Why would a seller take on buyers expenses anyway?


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