Buying a Period or Listed Home

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Checklist provided by 

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Choose a Legal Company that specialises in buying period or Listed homes as they will know what to look for in the deeds. For example, one family had to sell their home to pay for works to a nearby church which they didn't know they were required to keep in good order!
Research the market so you know where period and Listed properties are in the local area and how much of a premium they are likely to be sold for. For example in Kate's village period properties are approximately 30% more than younger properties.
Budget for the move, including additional monies such as higher legal fees and costs of up keep as well as any works required. You will need a 30% contingency for any budgets carried out on period properties.
  Carry out mortgage research and find out how much you can borrow. Not all lenders will lend on properties built prior to 1900, thatched properties or Listed homes. Be aware you might have to pay a higher mortgage fee and/or a higher deposit. Properties in a bad state may need specialist lender.
  Research the estate agents and lists of endangered and Listed buildings. Usually only a few specialist estate agents will sell and fairly value period and Listed properties, watch for overvaluations.
  Identify and brief the agents about the property features on a needs basis, then a ‘wish' basis.
  Carry out viewings and note down what works might need doing and what will cost you additional on-going costs, for example oil fired heating, sash windows, lime plaster, thatch.
Check for rights of way and any obligations you have to the local community or property upkeep if listed. 
Make an offer on the property subject to a specialist independent property survey.
Contact us to find out what to do if your offer is rejected.
Offer accepted.
Organise an independent survey which is carried out by a local that specialises in Listed and period properties.
Finalise your mortgage and offer and Insurance
Manage the purchase of your property, ask the legal company for a list of restrictions of works you can carry out to the building, any conservation area restrictions or anything in the deeds that you are responsible for.
File your paperwork carefully - you'll need the paperwork when you come to sell.
Organise your removals/packaging subject to exchange.
Exchange contracts.
Organise change of address.
Complete your purchase and move in!
Pay the Stamp Duty and check the SDLT forms have been filed.

 


All our information is brought to you by Kate Faulkner, author of
Which? Property books and one of the UK's top property experts.
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