Posts Tagged ‘Neighbour’

When it comes to selling your home privately you stand to gain a lot of money by way of saved costs. But, just how easy is it?

A sell (selling by “private treaty”) is, on the one hand, perfectly feasible if:-

1. you simply sell to a relative or to your neighbour without any advertising or marketing. Your have not “marketed your home” and the Law and how House selling regulations are interpreted says this is a private transaction. It could easily be considered a “marketed sale” if you depart from strict guidelines – do you know all the in’s and out’s of such Regulations?
   
2. If it is a genuine private sell without marketing then you would not need a Home Information Pack (the HIP with Energy Performance Certificate – the EPC).
3. and you avoid all the hassle of advertising and have people trample through your private space – your home – your pride and joy.
4. You also avoid Estate Agents with sharp suits and smooth tongues. What price for this?
   

On the other hand:-

1. Are you sure you are not under-selling your home?
2. Have you considered the possible benefit to value if you first did certain repairs? Are you sure you know who to ask for this advice? Spend £500 on XXXX and you might ask for twice as much as added to the house value!
3. Do you know how to vet your buyers to ensure they are serious and aren’t going to cause problems “later”.
4. Are you sure you have infringed the law and property regulations and may get a Penalty Notice served on you at any moment?

Balancing these competing forces will tell you which way to go but do think seriously about it.

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Selling your house privately? What are you saving?

Save 1.5% commission = £1,500 plus vat (per £100,000 of house value)

Save your HIP cost = £400 with partial vat

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The only problem you have is the unknown…….

If you are truly knowledgeable then you are saving real money and the consequences, if all goes wrong, will be minor.

If you are not fully knowledgeable and may need help if the going gets tough then you may just regret attempting to penny-pinch.

Perhaps getting the Estate Agents in to give “initial free advice” (without telling you may go private) is not such a bad thing?

Perhaps getting PROinspect in to talk about value and disrepairs, and the effect of doing repairs – effect on value – also isn’t so silly?

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A third Way?

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Nowadays nothing is new. Starting to string up are PROPERTY BROKERS: often these are internet based, but not always.

Website services exists for simply listing your home are available for sales – this means you will need the good old HIP but the fee for this limited brokerage service will be much smaller than a full Estate Agents commission.

Certain Brokers mix internet service with limited marketing and other actions. Again these will save you a large sum.

The secret here is to correctly match what your home needs to dispose of it to those services that are available to you. Why not invite a fee quotation from a (1) traditional Estate Agent, a (2) “partial” Agent/Broker and (3) a full internet Broker service whereby no visits to your home are made at all (sometimes with the exception of a professional Photographer)? You could then assess the value that each brings to the table and match that with what you believe your home needs to get it sold.

For example – if your home is modern and on a large estate (is similar to most other homes and many have sold recently or are on the market) then provided it is in reasonable order then you may not need the full services offered by a traditional Estate Agent.

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A final two thoughts – (1) what about home swaps? Google house-swaps and see. PROinspect would immediately mention that if you go down this route then a private survey would be essential for self-protection purposes: (2) what about selling quickly to an Investor? Various organisations will buy your home “upon request” where an offer can be provided without a full viewing: the latter may be required as you are seeking to avoid an imminent repossession or you simply need the equity in your home quickly – no fees but perhaps you will not get full market value (in some cases nothing even ner to full value). Google sites like National Home Buyers to see how such schemes may work for you.

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A Footnote — I have recently been involved with Estate Agents in the disposal of my Parents home closeby. A long chain developed but we priced the house to sell and found a home to buy quickly. When chain problems cut in, and they often do, our own Agent acted with great authority and rapidity and circumvented several problems before they got out of hand. I have been very impressed with the professionalism shown (and suspect some Agents would not have been so helpful). We have not yet exchanged but are confident we will.

I must state that my Parents just could not cope with self-selling their own home and needed full Agency services: even though I could sell my own home I would normally request full Agency services because I am a busy person and just could not find the time to do all that a modern Agent has to. This is not a choice but a necessity.

ALTERATIONS ADD VALUE AND ARE A WISE INVESTMENT?

Aren’t they?

During my career as a Surveyor and Valuer I have seen it all – strange people and strange homes plus interesting people and a few absolutely marvellous homes.

Piranha in giant fish tanks in your main bedroom, polystyrene tile cladding heaven to student condensation and smoke invoked squalor all in one day. I have seen DIY heaven and hell, from bedrooms with a WC in them to showers in a kitchen.

However, what does surprise me is that many people think they have added value when, in reality they have decreased value and at a high cost to themselves.

Most of us have seen the TV Shows that revamp homes, often at low cost and effort from what is considered to be a poor starting position. What the following is designed to show is that YOU REALLY MUST THINK before you completed any DIY or get any Contractor in.

Think – think – think and think again.

1. What is a defect? Nothing is perfect and so do I really need to fix it?
2. Can the defect wait or would a delay cause even greater problems?
3. Do I need any permissions, consents or approvals before I do something?
4. Am I maintaining property value or causing value to fall as a result of my actions?
5. Do I need to increase the Buildings Insurance cover after an improvement?
6. Do I need to serve a Party Wall Act Notice on my neighbour(s)?
7. Is the land I am building on actually mine?
8. What Health & Safety regulations surround what I am about to do?
9. The list is endless…………….

Let me get something off my chest – I have adverse reactions to several matters that I mainly saw in my early career when in the Portsmouth-to-Fareham areas (not that bad taste is restricted to these areas – trust me, bad taste is generic):-

• Polystyrene tiles – these melt on your head and also release toxic fumes in the event of a fire but people seem to think they keep the heat in and so they are OK – not so, avoid them at all costs.
• Gnomes – now I like to think I have a good sense of humour but when you see gnomes in gardens (anyone number above, say, one) and my hackles are instantly raised: houses with gnomes usually mean the owners are “of an age” or “of a mind” that clashes with me. The gnome lover seems to fall under the spell (of the gnomes?) of becoming unable to understand “good taste and decorum”. With gnomes often you will see all manner of other offending matters – usually those in this listing but many more as well. I apologise to the worlds’ gnome lovers, and to any gnomes reading this article and to any Gnome Council members who get to hear of my comments, but why do gnome lover homes incorporate so many naff features? (naff is a technical term reserved for Gnome homes).
• Stone-Cladding – the world does not need reconstituted stone cladding in any shape or form. It can damage cavity wall ties; it bridges wall damp proof courses and causes dampness; it looks awful (even with contrast colour stones intermingled) and we all know that it basically screens a home lot of trouble.
• Non-matching-neighbour-improvements : these are usually found on terrace housing, often also on semi-detached houses. You know: you reclad your roof with red tiles and next door does their roof with blue tiles. You have large pane, while plastic double glazed windows, your neighbour has leaded-lights with mock-Tudor-simulation-wood brown double glazing installed. Stand back and can you really say the streetscene has been improved by such diversity?
• Dark Kitchens and kitchen units – Upgrade the kitchen: good idea and one that will probably add a lot of value to your home. Well, it would have done if you had been sensible about it. Why would anyone want dark cupboards with dark wall tiles and dark floor finishes? Keep it light! And whilst in this rant, what about lighting? Does one sickly old-style light bulb in the centre of the ceiling really inspire gastronomic delights?
• Over Technical works – I once inspected a rural home with the biggest decking area you will ever see: the whole of the rear, large garden. The owner reported that he had installed three miles of plastic pipes within which ground water heat exchange was taking place. Several hours later I understood what he had done – an early form of ground water heat exchange – but his buyer (my survey client) was not so understanding and decided he would buy elsewhere. I am not being “ungreen” here – indeed I actively encourage energy improvements but the problem is “will your potential buyer like what you have done?’.

On a serious note, what I am saying here is that many “improvements” are not on the positive side: indeed many detract from good function, high value and actually reduce saleability and perhaps value. However, beauty, as they say, is in the eye of the beholder!

Now, lets’ move on and discuss the real issues:-

WORKS could be described as any alteration, renewal, revision, covering or other such work that alters the current state and condition or function of a building or building element or service.

For some of these things formal Consents will be required because they are either potentially dangerous or might adversely affect another party if things don’t go according to plan. Let me illustrate ……..

EG – If you live in a home that adjoins, or is close to (within defined dimensions), another home and you wish to alter or adapt a party wall (not just a wall but instead anything that affects the neighbouring structure) then you must either contact that person and agree all aspects of the works scheduled OR serve a Party Wall Act notice which is a legal document and which has legal consequences.

EG – If you live in a Listed Building and/or within a home inside a Conservation Area then many works must first be outlined and then approved by Conservationists before anything is done. Indeed, in some cases if you fail to maintain such a home your Local Authority could enter your land/home to complete essential repairs and recover the full costs from you even if you objected to the works in the first place!

EG – For matters such as Asbestos Removal, Replacement Windows and Boilers only certain prep-Approved Contractors can complete the works and even then strict Health & Safety regulations apply (perhaps greatly increasing your costs).

If you choose works that do not require pre-Consents or the input of “others” you still cannot ignore all others. English law states that you even have a duty to ensure that burglars are not unnecessarily injured and if you have Contractors in and fail to tell them of a hidden danger then you could be sued of such people come to harm.

What is annoying to a Surveyor and Valuer is that nothing prevents people from choosing to complete stupid works. To improve insulation and reduce condensation many people place sheets of polystyrene under thick wallpaper or even add polystyrene tiles on ceilings. Such materials are lethal in the event of a fire in the building and could even invalidate Insurance cover in certain scenarios.

What is annoying to Surveyors and Valuers is that some people over-improve their homes. For any area the local property market will have a price ceiling over which homes really do not increase in value whatever you do to them. Therefore it is a common fault for such owners to not recognise this and to waste money on a new swimming pool only to find nobody wants to subsequently buy their home.

Home owners are encouraged to think of the basics —–

• Is a repair essential?
• If a leave it, will it cost much more later or spoil the intended function of that element?
• Has the element/service/appliance reached the end of its useful life?
• Can I get a grant or discount that makes the work proposed more affordable and a better investment in that by the time I move on the work will have paid for itself by reduced annual maintenance or energy costs?
• Is the work generally well considered by potential buyers?
• Will the work cause any offence or breach any Regulations or law?
• Do I need to get structural calculations done or plans drawn up?
• Will I have to remove the work/element in order to dispose of the home (I once saw a £25,000 shower pod within a small 2 bedroom Victorian terrace home in a rural village – the owner had to remove the pod (through the roof) before anybody would even consider buying the house: the so-called improvement actually put people off buying.

You need to focus on the real issues —–

Will what I do improve saleability?

Will what I do increase or maintain the mortgageability of the home?

Will what I do be legal?

Will what I do follow modern tastes, styles and trends?

Will what I do breach any lease or restrictive covenant?

Will what I do impact adversely on anyone or other building?

Will what I do breach any Right-of-Light?

Will what I do maintain or improve my property value?

You would be amazed how many people bend or breach these common-sense rules to their ultimate detriment.

Most people move within 5 years-or-so and so why would anybody waste money for a short term benefit? Health grounds? Special Access reasons? Special reasons to stay – like living next door to parents? etc…… These are the exceptions.

So – the next time you may be thinking about a sizeable expenditure on your home, why not take professional advice to protect yourself and your wealth?

NEED ADVICE?

Try the SEARCH Box facility (below, left), click on an Article Heading (below, left) or simply read on….

• BUILDING SURVEYS with or without VALUATION advice
• HOME VALUATIONS by an RICS Registered Valuer
  
• HOMEBUYER REPORTS or SELLER SURVEYS
• AUCTION or QUICK-WALK-THROUGH Appraisals
  
• Update your BUILDING INSURANCE SUM INSURED
• Is DAMP REALLY DAMP or actually CONDENSATION as a result of your lifestyle?
• Is that CRACK the beginnings of SUBSIDENCE?
• Divorce or Negligence Court-Compliant EXPERT WITNESS Reports/Valuations.

Hello, I’m Stuart Parrett. I am a truly independent, knowledgeable and experienced Chartered Surveyor and housing specialist. I am in the PEOPLE and HOMES Business where Information Discovery is all important.

I survey homes for faults and worth/value but it is not what I do but HOW that separates PROinspect from competitor surveyors.

THE HOUSE DOCTOR IS IN:

HOW CAN I HELP YOU?

SOMETHING of VALUE for you —-

1-  Do you have a SEPTIC TANK DRAINAGE system?

NEW Environmental Permitting Regulations cover even old septic tanks, which may previously have escaped regulation, but are now controlled and must be formally registered with the Environment Agency by 1^st January 2012. Failure to register is a criminal offense. Click this link PrivateDrainageChanges2012 for an Environment Agency Brochure that explains all.

2-  CONDENSATION SEASON IS UPON US – have you looked in the back of the wardrobe recently or in “that corner”?

Cold = drop in dew point = cold surfaces will attract condensate: Quick Fix – create airflows and reduce the amount of vapour in the air. Longer Term Fix = Raise the wall temperature by lining it with XXXX; properly kill off mould spores; introduce sensors that apply venting or temperature changes to the environment. Simple.

What often works is opening the window for as long as possible during and after sleeping/baths/showers/cooking (this removes water vapour that then cannot condense on your clothes and walls). You loose heat during this process and so you need to learn how to achieve these goals intelligently without icicles forming on your nose.

For more information on me, my CV etc… – click here and scroll down. Alternatively, look me in the eye by watching a short VIDEO – CLICK HERE. TheHouseSurveyor at YouTube will also deliver several important messages for those looking to purchase or those you wish to become Residential Surveyors and/or Valuers.

Those who have kindly provided testimonials for me say that I can be considered a safe pair of hands, somebody who is a real communicator and a provider of detailed and robust opinions.

Good reasons for using me in the central south coast area include that I take the time to listen to you and then help you make the right choice of survey product and have it completed at the right time. After this I genuinely communicate with you and don’t simply mail a report to you and that is it. No, I am always available for questions and meetings because you need to be re-assured your purchase is both a wise investment and you are not buying a problem.

I protect the biggest investment you’ll ever make in your life – your home – and I work with you every step of the way…..

I’ve brought together a lot of valuable information to help you organise property problems, alterations, private surveys and other services surrounding ownership, maintenance, sales, purchases and Expert Witness Reports.

CALL ME for a free chat and advice on 078 3636 3040 —

• THE GOLDEN RULES OF SELF-PROTECTION DURING HOME BUYING =

1. When your “offer” has been accepted make sure you already have a loan deal secured in principle
2. Make sure you DO NOT agree to a combined Loan Valuation and Private Survey
3. Actually speak to a Surveyor (PROinspect down south) – do not accept an Assistant or a Secretary
4. Find out your Survey Product options, fee costs and the manner in dealing with any special concerns you have
5. Do not fall for quick deals or “linked” services often packaged by costly middlemen Agencies.

STUART PARRETT

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Browse the site and when you’re ready to ask for advice give me a call or fill in the Form on the right. To get the best out of us you need to be briefed as to your options, survey costs and a lot more. As a starting point be as specific as you can as to what you need from us – use the CONTACT FORM (top right on your screen): EG: Detached house – perhaps 50 years old – £400,000 agreed – Building Survey with Valuation needed – being sold by XXX Estate Agents.

PROinspect are led by Stuart Parrett who has an unrivalled pedigree as a specialist Home Surveyor of over 35 years Hampshire experience.

If you wish to read even more of my views on a host of house and survey matters go to ezinearticles.com by clicking of the above icon. Or follow me at Twitter (@SurveyAuthority).