Novocastrian

.... or possibly the day after.

Offer accepted with no dickering about.

Thanks for all your help.

Novo.

Tirytory

Yay! That's great news... Now of course we all want to know (or at least I do) asking price, below or above?

Novocastrian

As said, 2500 quid above the "offers over" asking price.

I still think it's a steal at that.

I've now provided proof of funds for the cash purchase and we've swapped the names of our solicitors. I suspect this thread may not die because I haven't the foggiest about what the next steps are.

There will be further requests for advice from the collective.

Tirytory

It should all be relatively straightforward without a mortgage company to deal with. You do need to get a survey arranged I'm going to use the word efficiently though...

Editha

The next step is for you to commission a survey, or 'house buyers' report' as it is now known, if you want one. If you were getting a mortgage, the lender would commission a surveyor's valuation, and you'd get the option of paying extra for a fuller report. Because you are a cash buyer, you have to make up your own mind whether a report is necessary.

Let your solicitor know your decision, or s/he may hold off starting the legal process until the survey report is back.

Novocastrian

It's not necessary.

babyposer

Novo

You're gonna buy a place in Jesmond?

not2old

Only that anything that is a semi or a detached there starts lowest price at £500,000. So paying £2500 over the asking price is a drop in the bucket.

not2old

Seeing the property Novo is buying was last purchased by the current owner in 2013, if there is one, would a copy of the survey from then be good enough?

Novocastrian

No, it's down on the Quayside a bit east of the centre.

Editha

Well, Novo doesn't think he needs a survey at all. An old survey would be interesting. A new survey offers more protection. Theoretically, if the surveyor gets it wrong and misses something big, like subsidence, then you can sue him or her for negligence. That's easier to do if it was a full structural survey, rather than the less rigorous but cheaper housebuyer's report.

Novocastrian

It's a very well maintained apartment in a fairly new (but not brand new) low rise condominium. I've nothing against getting a survey done, but, as said, it's not needed.

Novocastrian

Update: Contracts were exchanged yesterday and completion will be on April 29th. :thumb up:

Thanks for all the advice in the thread.

Novo.

Jerseygirl

Congrats Novo.

Editha

Congratulations. I hope your move goes smoothly.