Auswifey

Hi guys,

I’m from Australia and just found out the process the purchase a house in the UK is slightly different and for my situation, quite risky as I need to apply for a visa and cannot have the sellers pull out of the sale at any stage.

Are there any tips you can give when making an offer, have it accepted and then perhaps putting conditions in their acceptance that they can’t pull out before exchange?

In Aus, once an offer is accepted you have to put a deposit on and you lose it when you change your mind. Not many sales fail to go through like they do in the UK.
I’ve read of times when either the seller or buyer in the UK have even pulled out on the day of exchange!

We are planning the big move back to the UK (hubby is a Brit) and I am steady scared of waiting for exchange and then completion!

Anyone have any experience or advice they can share?
Thanks

Englishmum

It depends on where you are moving to in the UK. Are you planning on moving to England, Scotland, Wales or Northern Ireland?

I know that the property transactions are very different in Scotland, I have no idea about NI but I think it’s the same in England and Wales.

I haven’t lived in the UK for many years.....but may I direct you to the main site *and* forums on www.moneysavingexpert.com - there is a forum for buying, selling and renting property in the UK and you may find some good tips there!

Good Luck!
PS: also be aware that Stamp Duty may be payable, depending on the price you are paying for the property.

Benson55

The Aussie system is the same as Canadian and Scottish BUT in the rest of the UK its a toss up.
Best to wait until you know for CERTAIN you are in the Uk then buy a house, you can rent for a while and the agents you are buying from can usually assist in helping you.

durham_lad

We bought a house in England a year ago from the USA but we paid cash as we had already sold our house in the USA and just needed to provide proof of funds at the start of the process after our offer had been accepted. We also had no visa issues to worry the sellers. Apart from the initial signing of documents when we were in England shopping for houses everything else was done remotely including the final transfer of money, from a hotel in Texas just after our goods had shipped and before we had left for the airport.

It is all very nerve racking even as cash buyers and I don’t really know of any tricks or tips. As mentioned above, in England and Wales either party can pull out for any reason right up to the end.

Good luck.

Editha

In England and Wales the parties are not bound until exchange of contracts, but there are a couple ways of trying to make the process more speedy.

Buy a new property from a developer. A developer is unlikely to withdraw before exchange. But make sure the property is already built, or nearly finished before you commit yourself. Builders can take ages to finish properties.

Or look for a property advertised as 'chain free'.

Novocastrian

My advice would be to do as we did, namely rent a place for perhaps a year when you arrive, then, without pressure research areas and properties until you find something you'll be happy with. Put in your cash offer with room to think again (if necessary) before the rental elapses.

The system in England & Wales sucks, but we're happy with the outcome now.

Auswifey

Thanks everyone for the advice.
We are only looking to purchase in the area of my in laws and we have all of hubbys side doing inspections and already have a solicitor on hand.
I should clarify we are purchasing in England. None of his family members have room for us to move in with as we have 2 kids now and we dont want to do a short term lease.

We have an update on the property we are going to put an offer in for, turns out it is chain free so we are in luck. Now lets just hope they accept it and the whole process runs smoothly.

scot47

Be aware that there are different systems WITHIN the UK. there is no unitary legal system in these islands - and buying property is a good example of how that impacts on people.