This month is a busy one for ‘completions’ at David Phillip Estate Agents, but what exactly is completion?
Completion is the day when as a buyer you collect the keys for the property and you can start moving into your new home. This is always a week day so that the banks can transfer money and is always agreed in advance. So what can you do to ensure the day runs smoothly.
Plan ahead for your removal day – clean the property, plan the removals and start packing up your belongings. Always communicate regularly with your conveyancing solicitor, they will be working as quickly as they can, but a helpful nudge in the right direction will never go a miss. Ensure your paperwork and funds are in order.
Prior to completion, the buyer’s conveyancing solicitor, will request the money from the lender and check all the mortgage conditions have been met.
Your conveyancing solicitor deals with the paperwork and deeds, confirms the transaction and signs off the mortgage completion statements if you are the seller – this all takes place on completion day.
A Redemption certificate will be requested by the seller’s solicitors if there is a mortgage on the sellers property.
Completion statements of all payment made and received will be set out by both sets of solicitors – any invoices to be paid, including the Estate Agents fees will be set out, the final checks will then be made and then the buyer’s solicitor will transfer the purchase money to the seller via the banking system. If the seller fails to transfer the funds on completion day then a fine will be issued, however, if you were unable to pay because your buyer did not come up with the money then they will pay a penalty.
Once the seller’s solicitor has received the funds then they will instruct the Estate Agent to release the keys which can then be collected from the Agent’s office. If the funds are not received from the buyer’s solicitor generally by 4pm, then completion will not take place until the following day.
If there is more than one party in the chain then this has the potential to also cause issues – if any of the chain falls through then this can halt the process or even bring the sale to a grinding halt.
It is standard for completion to happen between 7 to 28 days after exchange of contract – our ‘normal’ is 7 days, however we have exchanged and completed on the same day, which is becoming increasingly common – it also speeds up the conveyancing process and means you don’t have to pay a deposit on Exchange of contracts. There are though downsides, other than the high stress levels – because it can happen at very short notice it may make it difficult to arrange the removal company and if anything does go wrong there is very little time to put it right! – same day exchange and completion is much easier if the sale is chain free and a cash purchase.
Once you have completed the sale, the buyer’s solicitors will call the Estate Agent selling the property to confirm key release – keys can then be collected from the Estate Agents.
So, if you are considering selling your home and would like further details and information regarding the house selling process, call David Phillip FRICS on 01134 676 400
A: 86, Leeds Road, Bramhope, Leeds, LS16 9AN w: davidphillip.co.uk e: info@davidphillip.co.uk
At David Phillip Estate Agents we actively monitor the Rightmove performance reports v our competitors in Bramhope (LS16 9).
Yesterday we were pleased to record that we are still holding the number one spot for the following key areas which means we therefore have market share in these areas too*.
How are we achieving this:-
So, if you are considering selling your home call David Phillip FRICS (who has over 30 years’ experience selling homes in North and West Yorkshire) on 01134 676 400.
A: 86, Leeds Road, Bramhope, Leeds e: info@davidphillip.co.uk w: davidphillip.co.uk
*Data taken from Rightmove plus, year to date LS16 9.
If you own a property and there is an adjoining wall, hedge or fence in between, it pays to know what you are responsible for as this can prevent hassle or in the worse case, legal wrangling in the future.
On all modern properties there will be a plan drawn to scale which is registered at HM Registry – this will also be on the purchase deed. If you don’t have a copy it can be found from the Land Registry.
Once you have the documents check if there are any ‘T’’s on any of the boundaries (this is referred to as a ‘T’ mark)then this shows the ownership and responsibility to maintain. If the ‘T’ is matched by another ‘T’ so that it looks like an elongated ‘H’, this shows that the boundary is a party fence/wall – this shows joint responsibility.
So, as one would expect, the owner of the property is in most cases responsible for the maintenance.
With fences, the presumption is that the posts will be on the owner’s side (the back of the fence that faces the owner’s side), however, to make the fence appear nicer from the owners side without showing the posts then the fence can be erected with the fence and the posts entirely in the owner’s garden.
You can only hang things on your neighbour’s fence paint it or use it to support your plants with their permission.
Anything you do to your neighbour’s fence without permission, including staining or applying preservatives to your side of the fence is classed as criminal damage.
If the boundary for the front of the property is less than 4 inches high then planning permission isn’t required, however, if you neighbour has decided to put up a fence they need to put this in writing giving you 30 days’ notice ahead of the work going ahead.
Unless the deeds specify that the boundary needs to be maintained, then there is no legal requirement for the owner to maintain the wall of fence or to keep the hedges tidy, however if someone is injured because of negligence then the owner could be liable.
If you would like free market advice or would like a free market appraisal with David Phillip FRICS call on 01134 676 400
A: 86, Leeds Road, Bramhope, Leeds w:davidphillip.co.uk e:info@davidphillip.co.uk
A recent survey carried out on behalf of Prop Tech lead generation company, has revealed that four in five vendors would not contact an Estate Agent if their website looked dated and did not include – high quality imagery.
First impression always counts and this was the case of the survey results based on 2,000 home sellers in the UK across all locations and demographics.
88% or 9 in 10 sellers also want to see properties that have recently sold in the area and 89% would like to be able to undertake an instant valuation.
Only 59% of respondents are interested in ‘live-chat’ options, which we totally understand, at David Phillip Estate Agents we do not have this on our website as we think that our clients would rather speak to a person rather than a ‘chat-bot’.
Video content of the agency was ranked at 62% and 70% of people would like details on ‘meet the team’ which we think is key particularly to see what experience the team have – with David Phillip FRICS it is over 30 years.
What the information shows is that customers wanted a superb, polished web experience – and somewhere where information can be found immediately.
At David Phillip Estate Agents, not only do we have 3D virtual tours on most of our properties, we also have area videos, Q&A sections to help answer home-moving questions, instant valuations and also relevant blogs to keep people engaged.
We also have a transparent pricing model to provide our clients with fairer fixed fees – this gives our clients choice and removes any uncertainty which we find people are keen for in times when general price rises are certainly hitting people’ s monthly expenditure – all our prices are available on the web site – we don’t do commission
So if you are considering selling your home, and your first step is engaging with an Estate Agent, take a look at our website w:davidphillip.co.uk, here you will see examples of the beautiful homes we are marketing and selling as well as giving you information you may need when selling your home too.
Call us on 01134 676 400 for a free market appraisal with David Phillip FRICS – you will never speak to a call centre.
86, Leeds Road, Bramhope, Leeds, LS16 9AN e:info@davidphillip.co.uk
Have you ever thought about building your own home but thought that you could never afford it, well that may now be a little easier.
Aiming to make it more affordable for self-builders to build, the Government has launched a new Help to Build in the form of an equity loan that is designed to help cover the upfront costs. This means that building your home has now become a realistic option for those who have the ambition to take on a project.
Designed to help cover the upfront costs, the equity loan is similar to the Help to Buy scheme and will be available whether it is for a made to order home, a commissioned home or a new design from scratch.
Although the details of Help to Build are yet to be fully revealed, self-builders would need a 5% deposit, with the mortgage lender providing 95% of the funding for the project. The loan can be between 5% to 20% of the total estimated costs and you can spend up to £600k on your new home (this must include the cost of the land if you already own it) and no more than £400k construction costs to build it.
The first step is finding a mortgage lender who has registered for Help to Build and will help you find a ‘self-build’ mortgage – currently either with the Halifax and a handful of specialist providers and building societies – a mortgage lender will help you with this – you will also require a 5% deposit
Once the mortgage is in place you can apply for Help to Build through the Government backed body Homes England, if you are successful you will then receive the equity loan offer which is interest free for the first five years.
During the construction of the property, you will owe the Government the 15% equity loan – your lender will release funds at the various stages and eventually your self -build mortgage will automatically switch to a repayment mortgage.
The scheme will be open for 4 years and once you accept the scheme you have three years to buy some land and build a home. The Government says it could deliver between 30-40,000 new homes a year with this new scheme.
So, if you are deciding that your next home could be a ‘new build’ project and you would like a free market appraisal on your current home, call David Phillip FRICS 01134 676 400
David Phillip, 86, Leeds Road, Bramhope, Leeds LS16 9AN w: davidphillip.co.uk
Currently buyers can go as far as paying for a survey and starting the conveyancing process before finding out their dream property has a restrictive covenant in place or that the property is leasehold. Not only is this extremely frustrating for buyers but also wastes a lot of time and money, should the perspective buyers decide not to proceed with the sale.
At David Phillip Estate Agents we welcome the changes being brought which will make the process much more transparent and possibly save time in the long run by identifying anything that may have a financial implication. Issues that may affect the buyer will be flagged up early run which is key.
Estate Agents have a legal obligation to buyers to discuss ‘fair’ information to home buyers and sellers, which includes making marketing materials about a property clear, unambiguous and not deliberately misleading or withholding information from buyers – so, for example, not revealing any planning permission, saying that a bathroom is fully tiled if it isn’t, saying a house has been re-decorated if it’s only one room and saying that there is double glazing throughout if one small window isn’t.
Agents are not allowed to say anything verbally to potential buyers that is misleading, they are also expected to reveal why previous sales have fallen through on the property.
First Phase – Part A changes
From May 2022, Part A changes will see the following now included in the marketing information accompanying the property listing
Information on Council tax, price and tenure are added to portals like Rightmove and Zoopla – if the sections are left empty this will be flagged up to the potential buyers so that they can see what is missing.
Second Phase - Part B and C changes
These are currently being developed and will roll out over the coming months and incorporate further material information such as restrictive covenants (this may mean you own your home but that doesn’t mean that your can do with it as you choose), flood risk and other specific factors that may impact on certain properties.
Under the Consumer Protection: unfair trading regulations 2008, estate agents must comply with strict rules. The law applies to estate agents, property developers and websites that introduce buyers to sellers. And, if these are deemed to be acting unfairly, Agents can be issued with limitless fines.
As well as Estate Agents legal obligations to buyers, estate agents that are members of the Property Ombudsman must also adhere to its Code of Practice for residential estate agents. David Phillip Estate Agents are members of the Property Ombudsman.
So, if you are considering selling your home and would like information around the new legal obligations or would like a free market appraisal with David Phillip FRICS call now on 01134 676 400.
W:davidphillip.co.uk a: 86, Leeds Road, Bramhope, Leeds , LS19 9AN e:info@davidphillip.co.uk
Whether it is growing seeds, taking a break to nurture your houseplants or enjoying a cup of tea in your favourite green space, gardening provides so much joy. This week is national Gardening week, which is the Nation’s biggest celebration of gardening and raises awareness of the difference that gardens and gardening can make to the lives of everyone in the UK.
Inspiring more people, particularly the next generation of gardeners, to experience the joy of creating and growing beautiful green spaces.
So here are some of the things you should be doing in your garden in May
Throughout this week activities will be taking place at Harlow Carr gardens where you can discover activities for all ages.
At David Phillip Estate Agents we have properties for sale in Bramhope with wonderful gardens, we also have people looking to move to the area too. If you are considering selling your home and would like a free market appraisal with David Phillip FRICS call now on 01134 676 400.
W:davidphillip.co.uk a: 86, Leeds Road, Bramhope, Leeds LS116 9AN e: info@davidphillip.co.uk
According to Rightmove, March was the best ever Spring sellers’ market as prices hit another new record with another jump of 1.7% meaning the average price across the UK has broken through the £350,000 price barrier for the first time at £354,564 – this is the largest at this time of year since March 2004. Yorkshire and Humber have seen a monthly change of plus 1.2% with an increase of 12.4% v last year.
The most expensive sector of four bedrooms plus has seen an average 3.8% monthly price surge with 12% more new listings in this sector at this time last year. However, it is the more mass market ‘second -stepper’ sector that is selling fastest with just over half (50.3%) of these homes finding a buyer within the first two weeks of marketing.
Spring this year is the best sellers’ market, not just because of the record price levels but also as we enter the Spring selling season, there is the biggest mismatch between supply and demand for this time of year ever measured by Rightmove with more than twice as many buyers as sellers.
The chance of finding a buyer in the first week is the highest ever and twice as likely compared to the same period in 2019 (pre-Covid). Almost half 47%, are having a sale agreed within the first fortnight, another indication of high demand and the chance of finding a buyer quickly.
Tim Bannister, Rightmove’s Director of Property data comments “despite the current high demand, a price reduction is often needed if a property has not found a buyer in the first two weeks. It could be that the property is too niche and has to wait for the right buyer with those specific requirements to come along, but more often it’s due to prospective buyers being underwhelmed by a seller looking for an over-optimistic asking price compared to other properties that are being snapped up at record speed. Acting quickly on a price reduction before the property goes stale can help to get sellers back on track for a speedier sale.”
David Phillip commented “all sectors of the market are seeing brisk conditions. Sellers with an appropriately priced and well-presented property can expect a shorter marketing period than the norm. Having a buyer for your own property, subject to contract, puts those who are buying again in a much more powerful position than those who have yet to sell, we call these people ‘power-buyers’ and are more likely to get the property that they want and negotiate the best deal on the price.”
Rightmove forecast that the overall transaction numbers for 2022 will revert back to pre-pandemic levels, as the market returns to a more even balance, but currently the number of sales being agreed by Estate Agents is 11” higher compared to the same period in the more normal market of 2019
So, if you are considering selling your home in the buoyant Spring months and would like a free market appraisal call me, David Phillip FRICS on 01134 676 400
David Phillip Estate Agents w: davidphillip.co.uk 86, Leeds Road, Bramhope, Leeds LS16 9AN
You are about to move home and are enthusiastic about the future and entering a new phase of your family life. Moving house represents a transition in life and whilst the ‘grown-up’s’ in the house may focus on many of the practical elements of moving, change is easier for adults to accept than children
For a child, moving home can have a greater emotional impact, certainly in terms of the losses the move represents. This may be the loss of a safe and familiar environment, the potential of leaving friends behind, having to start again or being a new person at school. The impact can be huge, but there are ways to keep your children re-assured and enthusiastic about the future move.
Once you have moved get back to the status quo as quickly as you can, children are resilient and will adapt well to the move quickly – they will almost certainly enjoy their new home and the lifestyle that goes with it as much as the old one, but by following simple steps you can ensure the lead up to the big day and beyond is stress free and one of excitement for your child.
The North Leeds area has some amazing schools, we frequently find families want to move to the area specifically for schooling. National Offer Day was last week, we hope that parents managed to secure the school of their choice for their child. If you are keen to move before the November Admission deadline for Senior schools, then now is a great time to look for a new home. If you are looking to move or sell your home then now may be an ideal time to start marketing of your property.
If you would like a free market appraisal with David Phillip FRICS then please call us on 01134 676 400 w: davidphillip.co.uk a:86, Leeds Road, Bramhope, Leeds, LS16 9AN
#bramhope #otley #adel #poolinwharfedale #cookridge #children #school #property #home #nationalofferday
Leeds half marathon and the Rob Burrow’s Leeds marathon Sunday 14th May 2023
On May 14th 2023, Run for All will be hosting the inaugural Rob Burrow’s Leeds Marathon alongside the Leeds Half Marathon which will see both events start and finish at Headingley Stadium.
The new event for the City is in support of Rob Burrow MBE and the new MND centre in Leeds. Former Leeds Rhinos player Rob Burrow was diagnosed with motor neurone disease in December 2019. Since then, Rob ad his family have campaigned tirelessly to raise awareness and funds to support other families living with MND.
The Rob Burrow Leeds marathon will see 7,777 participants take on a brand- new route through Leeds, taking some of Leeds’ most scenic countryside and outer suburbs which also in includes Bramhope – the Rob Burrow Leeds Marathon will be a fitting tribute to the city that launched Rob’s career and the area he calls home.
Whether you are an experienced runner or someone who has never thought about running in an event before, all abilities are welcome to join this very special event that is truly for everyone.
There will be a change of route for the existing half marathon in 2023, but we are delighted that the route will run past our office on Leeds Road in Bramhope.
If you require further information about this very worthwhile event, then more details can be found on the link below
www.runforall.com/events/marathon/leeds-marathon/
David Phillip Estate Agents, 86, Leeds Road, Bramhope, LS16 9AN
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