Novice questions

[ITriedAnother]

My Oh and I are currently looking to buy a house. I'm a first time buyer and he has only previously bought a flat so we're very new to this property buying malarkey. I was hoping you could help with some questions.

We are very lucky to be cash buyers with no chain. I've heard this is good, but why?
If buying cash, are there any checks we miss out on that the bank would do if we were getting a mortgage?
Is there any reason not to buy a house that's in probate?

Thank you x

We are very lucky to be cash buyers with no chain. I've heard this is good, but why?

Without a chain and mortgage, there are fewer things that could go wrong and cause the sale to collapse or be put back.

If buying cash, are there any checks we miss out on that the bank would do if we were getting a mortgage?

No. The bank would do a valuation survey, that’s it. I advise you get a structural survey done.

Is there any reason not to buy a house that's in probate?

IME the process takes longer if the house is in probate.

Thank you! X

@ITriedAnother
On the whole I agree with Teastory, but would add a couple of points.
1, Checks & Surveys. There are two 3 types of survey. Most people seem to opt for a level 2 Homebuyers report but the level of survey required depends upon condition and age of the property. I would never use less than level 2 but obtain advice in the form of quotes from several surveyors then instruct one to act on your behalf.
Always use a surveyor who is a member of the RICS and their web site provides details of approved surveyors close to you.
Re searches / checks, these will be handled by your solicitor and are always money well spent. Eg they could reveal something like the house is built on an old dump or an old mine etc.
2- Probate.
Basically how long it takes depends on where house is in probate process. Probate means the previous owner of the house has died. Probate is the legal recognition by the courts that the executors of the estate have the legal right to sell the house. If probate has not been granted then the vendor cannot proceed with the sale until such time as probate is granted.
However, once probate has been granted by the court then I see no reason why the sale should be slower than any other.

Hope this helps

@Grumpyunleashed That's really helpful, thank you x