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Just had offer accepted - what should we be doing now?

5 replies

IamtheOnewithSocks · 18/09/2020 07:18

Hello we've just had an offer accepted on a lovely house :)
We are FTB and I want to check we are doing everything correctly and in a timely manner.
So far we have engaged Surveyor (backlog to see though), engaged Solicitor and returned all documents requested same day, updated EA that we have done those two steps.

Is there anything else we should be doing now? We are cash buyers so no mortgage, and the house we are buying is vacant.

When do you get quotes for house insurance for the new house? We have not had house insurance before (renting) so I don't know how long this takes and what information is needed (e.g. I assume would need to wait for the Survey outcome to know if any issues).

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YellowNotRed · 18/09/2020 08:06

Congratulations!

Tell your solicitor to forward you the Ta6 and Ta10 forms when they are received (property info and fixtures & fittings, the vendors fill these out) and usually searches are sent for once you have confirmed you're happy with the title documentation but it's not uncommon to send for them before.

Also you should be sent the TP1 to see if there are any covenants/restrictions on the property. Your solicitor will raise likely enquiries and then communicate back to you.

I usually visit the property again once I have all this info to check the boundary of title plan matches with what I expect, also to confirm no obvious covenants (if there are any) have not been breached, and all info matches up on the TA forms.

Don't be afraid to chase everyone and do ask questions if you're unsure, but the process it easy really, albeit can be slow!

YellowNotRed · 18/09/2020 08:09

Sorry - buildings and contents insurance, I do an online comparison search as if I own it to get an idea of prices, then once you have your completion date, pick one and make sure the insurance starts then from as soon as you own it. :)

WB205020 · 18/09/2020 12:31

@IamtheOnewithSocks
Congratulations OP.......fingers crossed it all goes well for you.

As PP put.....engage your solicitor as soon as possible. There is no time critical rush but 1 thing a seller will likely be wary of is FTB taking their time with things. For example, a property i sold 2 years ago, we originally accepted a FTB offer for. They then did nothing for 3 weeks and i then found out they were getting quotes from different solicitors and taking their holiday to think about which one to use. I understand the need to be cautious. Its probably the biggest purchase you will ever make, but dont drag heels.

Engage your solicitor within a few days of the offer acceptance then look at speaking to your mortgage broker or the bank you got the mortgage offer from to get the full application started. Finally, if you want a survey speak to a surveyor and get one booked. They all usually charge similair amounts but get a couple of quotes if you want too.

WB205020 · 18/09/2020 12:34

Ignore my part about the mortgage......apologies i missed the cash buyer part.

IamtheOnewithSocks · 18/09/2020 13:53

Thanks, yes we have engaged a solicitor straight away, and have also booked a surveyor appointment. We chose firms before making the offer so it was just a case of booking. I think surveys and conveyancing are happening slower than usual though as the local market is v busy currently, so a backlog.

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