Buying questions - totally confused!

[jen]

We have just returned home from house hunting trip and think we have found the place for us but our brains are overloaded and confused, so decided to come home to complete our research and would appreciate a bit of advice on house buying

[AnOther]

Some tough questions the answers to which are difficult having not seen the property but FWIW here are my thoughts.

[quote user="jen"]

1. As we are buying at lower end of market would you recommend having a survey done?

I think the majority of people do not have surveys done but if you feel the need to ask the question the answer is probably 'yes'.

2. We did talk to the agent about having a survey and he has advised us that if we want one it would be wise to have this done first as if something shows up on survey then we can negotiate the price. BUT property is advertised with several agencies and should we shell out survey fees first?

Having a property on with several Immos is very common, the norm even, and frequently at very different prices too! There is nothing to stop you making an offer subject to survey though, you could even sign a compris with suspensive clauses to the effect that you resrve the right to withdraw or renegotiate in the case of an adverse report but you would need to word it carefully as a great many French properties will fail a survey for something or the other and you don't want to get into an argument about what constitutes a real problem and what doesn't. It would strongly suggest you not try and compare it to a survey that you might get in UK where every tiny little defect is picked up.

3. What sort of survey would you have, it has been suggested a walk through one? If we don't go ahead with a survey how do you check for things like damp? It is a converted barn and it has been rendered and it appears to have concrete footings with a concrete plinth of about 2 foot on the outside and up the inside of the walls which we have never seen before.

Similar response to Q1, remember though that there are many different types of construction in France with which we Brits are totally unfamilar. Is is a recently restored property or in need of TLC, the latter could be the more honest property as a resoration could have coverd up lurking horrors. A professional will know what to check and how, it's what you're paying him for, but at the same time you should be specific about anything you are particularly concerned about, such as damp for instance. That said, the method of construction of some properties means that they are inherently damp but that does not necessarily infer that they are bad properties. Again, try not to have a UK head on.

Although property has been up for sale for a year the agent is now saying to us after we said we needed a few days time out to think about it that 2 other parties are now interested in it and we should really consider moving things forward quickly as house market is starting to pick up - do you reckon this is sales pitchreally feel pressured now, so would be really grateful if anyone can give us advice.

I don't know about picking up and in many areas prices haven't really suffered to a great extent but I think in general it is a buyers market. Your agent may be bluffing, who knows, but don't be rushed into anything you are not happy about.[/quote]

Hope some of this helps

Bonne chance [;-)]

[Braco]

Jen

Four questions:

Are you experienced enough to judge a property?

Can you afford the extra expense to cover unforeseen defects?

Is the property under undervalued?

Can you afford a potential loss on market value?

If the answer to any two of these questions is no then I would recommend that you (and anyone else) should pay for a survey (structural) and the service of a solicitor to look after you interests.

[Will]

Although there are surveyors - and very good ones - operating in France a lot of people get an architect or a builder to look over the house instead. This seems to work well in most cases. If there are signs of serious problems like subsidence then a structural survey is a good idea, but in general if a house has stood for 50 years or more without problems there is not likely to anything seriously wrong.

Suspensive clauses in a compromis de vente are all very well, and some are essential (like clauses to ensure that a positive CU can be obtained for conversion work) but they are only possible with the full agreement of the vendors.

Beware of agents trying to pressure you. Being married to an estate agent in France I know that the market is still pretty flat. Houses at the lower end of the market that are sensibly priced are still selling, but at nothing like previous volumes. The upturn in the UK housing market has yet to cross the channel. Mrs Will always encourages her customers to take their time before deciding - perhaps because she is on a salary rather than commission only.