Property FAQ
Here are some of the most frequently asked questions buyers and sellers have during a transaction, along with advice on what to do.
Before You Start
How can I get on the property ladder without a deposit?
Who can I trust?
During the search
I don't understand the terminology on property websites
How can I find out about crime in the area?
How can I find out if the property is in a flood zone?
How can I tell if a property has damp?
Making an Offer
The agent won't put my offer forward
The agent says there is more than one offer
After the Sale is Agreed
Why is the agent trying to rush me?
The Survey
What are the different types of survey?
My surveyor has put a retention on the property value
My survey says the property is worth less than I offered
My survey says the property has a damp problem
My survey says the property has problems with the electrics
My survey says the property has problems with the roof
My survey says the property has problems with the plumbing
My survey says the property has subsidence or structural issues
My survey says the property needs X thousand pounds worth of work done
Legal Matters
How can I find a good solicitor or conveyancer?
My solicitor says there is a problem that cannot be solved
My solicitor says there is a problem which cannot be solved
This can sometimes be the case where the party who needs to answer a question is not available, such as the freeholder. To get round many problems indemnity insurance is widely available.
See the section Legal Matters in Property Purchases.
How can I find a good solicitor or conveyancer?
See the section Choosing a Solicitor or Conveyancer.
How can I tell if a property has damp?
If the damp is serious you will see it and be able to spot areas on the wall brown in colour or where the plaster is crumbling (in technical terms the plaster "has blown").
However most damp cannot be seen and has to be located using a damp meter.
For more on damp see What a Property Survey Really Means.
Who can I trust?
Unfortunately no one as everyone involved has different agendas from the agent who want to earn commission to the surveyor who may lack confidence or be unfamiliar with the area. Even your solicitor may not want you to buy.
See the section Who to Trust and The Media and Property Prices.
How can I get on the property ladder without a deposit?
See the section getting-on-the-property-ladder.
Why is the agent trying to rush me?
Very simply because "Time Costs Deals" and the longer the transaction takes the more likely it is you will loose the property, your legal fees and any other costs you have incurred. To find out why see the section Time Costs Deals.
The agent says there is more than one offer
Unfortunately this may or may not be true. If they are lying the property will remain on the market. If they are not you will loose the property to another buyer.
The agent should not tell you the level of the other offer in the same way that you would not want your offer revealed to other buyers. For more on this see Viewing Properties and Making Offers or for a specific word see the section Property Terminology.
I don't understand the terminology on property websites
First read Viewing Properties and Making Offers and How to Really Make an Offer.
The agent won't put my offer forward
Agents are required by law to put your offer to the vendor in writing within twenty four hours unless the vendor has instructed the agent not to contact him about offers below a certain level.
Alternatively the agent may be advising you to prove your finances first, otherwise by law he has to state to the vendor that your offer is "reckless" and this is obviously not in your best interests. You can find out more in the sections Viewing Properties and Making Offers and How to Really Make an Offer.
How can I find out about crime in the area?
There are a number of websites that list crime statistics by postcode. You can find these in the section Property Rescources.
How can I find out if the property is in a flood zone?
The Environment Agency publishes locations and maps showing areas at risk from flooding. You can find their website in the section Property Rescources. You may also want to try getting an insurance quote online to make sure a company will cover the property.
What are the different types of survey
There are three types of survey - valuation, homebuyers and structural. For more information on each type see What A Property Survey Really Means.
My surveyor has put a retention on the property value
This is a way of saying he believes the property is worth £X but would not recommend the bank lends all of this until a particular problem, say the damp, is checked. For more information read the section on retentions in What A Property Survey Really Means.
My survey says the property is worth less than i offered
This is known as "downvaluation" and is quite common. Your surveyor may have done so for good reason or because he or she is not familiar with the market or location in which you are buying. For more information read all of What A Property Survey Really Means.
My survey says the property has a damp problem
The surveyor takes readings from the floor and walls to measure damp. However they may be nothing to be alarmed about, may period properties have some level of damp naturally and many new properties have damp in areas such as the kitchen and bathroom. For more information read the section on damp in What A Property Survey Really Means.
My survey says the property has problems with the electrics
This is not unusual, especially in period properties as they do not meet the latest regulations. However only new properties are required to comply with these requirements and it should be remembered that every time new regulations are introduced the electrics of almost every property in the country go out of date. For more information read the section on electrics in What A Property Survey Really Means.
My survey says the property has problems with the roof
A roof is generally expected to last about 20 years. If the roof is ten years old and the surveyor has said you should expect to replace it in 10 years time, this is normal. For other issues with the roof read the section about the roof in What A Property Survey Really Means.
My survey says the property has problems with the plumbing
Much depends on what he has spefically noticed. See about the plumbing in What A Property Survey Really Means.
My survey says the property has subsidence or structural issues
Don't Panic! Read the report again, the sruveryor usually says he 'suspects' subsidence or structural issues. You will need a structural engineer to confirm whether his suspicions are true or not. See about the structural issues in What A Property Survey Really Means.
My survey says the property needs X thousand pounds worth of work done
Surveyors should not do this as they are not builders, damp proofers, roofers, plumbers, electricians or structural engineers. Only a tradesman giving you a quote and quantify the level of work required. See more on this and how it can cost you the property at What A Property Survey Really Means.
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