When should we start looking at properties?

[CultureAlienationBoredomandDespair]

DH has just inherited 50% of DMIL’s house, probate has been granted and there are various estate agents coming to value the property over the next week. The property was valued for probate and we have an estimate of what it’s likely to bring (around £250,000).

We would like to use around £100,000 as a deposit on a property. Currently we’re renting and due to issues with our neighbours we’re now looking to move into MILs until it sells.

Originally our plan was to sell the house and then begin looking chain-free but obviously things have now changed and we will have to move at the same time that MIL’s house sells. We have a mortgage in principal in place for £180,000 and we’re looking to hopefully view properties that cost around £250,000.

When should we start actually viewing in person and when are we in a position to put in offers. DSIL who is inheriting the other 50% of the house is happy for us to stay there and is in no rush for the house to be sold.

I would say when you have the money in your account, or towards the end of the process

I would start looking now if probate has been granted and the inherited house is about to go on the market. It’s no different to being in a normal chain.

But we now need to be part of a chain or we won’t have anywhere to live! The money will need to go straight from MIL’s house sale to our mortgage provider.

Thank you. When would we be in a position to put in an offer? We’re first time buyers so quite naive to how the process works.

You are right OP. You need to start looking much earlier.

As Pippifer said, treat it like a normal house move. Start actively looking once you MIL house goes on the market.

You can go ahead and put in an offer whenever you want! You just won’t be able to complete on your house until the inherited house sale completes (it will be on the same day). The estate agent might ask for your circumstances so you’d just explain you’re in a chain, they will be more than used to it.

Although in saying that ^, it was for a while that estate agents would want an offer on your own house before offering on the new one. I am guessing that’s changed as the market has slowed but you would want to check with them!

Probate can take up to a year. I can tell you are excited but you need to wait until there is a firm offer on the house before you start viewing. Most EA's won't let you view unless you have a firm offer on house anyway. What a nice relative you have agreeing you move into the house until it sells.

Probate has already been granted. It’s not so much that I’m excited, it’s more that I don’t want to end up in a situation where the house has sold and we’ve got nowhere to go!

SIL is indeed lovely, ideally she’d want us to live in the house and buy her out but for various reasons it’s not right for us long term. I think she’s rather we were there so that the house isn’t empty and so that we’ll keep the utilities running so she can come and stay too (she lives 200miles away but visits regularly and always stayed at MILs).

Depends what you mean by 'looking' .

Anyone's first property purchase is a big deal. I think you need to look at a number of properties (in person) having sat on Right Move / Zoopla for months first, to get a real 'feel' for what it is you want, what you don't want to compromise on but what you might compromise on. Sometimes, even to get ideas of what other people have done with the same style of house.

That way, you are so much better prepared when your MiL's house is sold and you need to move fairly quickly.

However, in terms of putting an offer in, very few vendor's would accept an offer before you have accepted an offer on the house that needs to sell for you to proceed.

I'd look once Probate has been granted and property on the market. Obviously worth looking at particulars of anything that comes lonto the market in the meantime so you know what you get for your budget - that might help when you come to view.

Our house went on the market today and we've viewed around 12 properties I've the last couple of weeks.

Once our house was close to being refurbished was when we started.

Originally we were going to sell the in-law's house but probate took so long we decided to refurbish our house and use that money to buy a new one .

We spent a few months just looking online to see what was around and once our refurbishment was close to finishing we started looking physically.

One thing we found out was that the size house were looking for are stay on the market but smaller houses are selling quickly.

I looked on rightmove but didn't physically view properties until I accepted an offer on my own house.
Two reasons for this. Firstly, as a seller I only wanted people viewing my house who were actually in a position to offer. I didn't want people wasting my time so I also didn't want to waste other people's time (it's hard work keeping a house tidy for viewings with 2 small children!). Secondly, I didn't want to find a perfect house and then miss out on it because they accepted an offer before I was in a position to make one.

Sorry I didn't realise you were living in the property, then yes as soon as you have an offer on it, otherwise you are not in a proceedable position.

This.

Thank you everyone. We’ve been looking on Right Move etc for a few months and have narrowed down what/ where we want but we haven’t viewed any properties in person yet.