Frequently Asked Questions

The need for planning permission depends on the size and location of your extension. We manage all planning permissions to ensure your project complies with local regulations.

Typically, a loft conversion takes 6-8 weeks, though this can vary depending on the project's complexity.

Closing costs in construction refer to the various fees and expenses associated with finalizing a construction project or a real estate transaction, particularly when financing is involved. These costs are incurred at the "closing" of a deal, which is when the ownership of the property or the completed construction project is legally transferred from the builder to the buyer, or when a construction loan is finalized.

Who is Responsible for Paying Closing Costs?

• Buyer: In most cases, the buyer is responsible for paying the majority of the closing costs, especially when financing a construction project. This includes loan origination fees, appraisal fees, inspection fees, title insurance, and more.
• Seller/Builder: The builder or seller might cover some closing costs, depending on the terms negotiated in the contract. For example, they might pay for certain inspections, repairs, or offer to cover some fees as an incentive to close the deal.
• Negotiated Sharing: In some cases, closing costs can be negotiated between the buyer and the seller, with each party agreeing to cover specific costs.

The responsibility for closing costs can vary depending on local customs, the specifics of the construction contract, and any negotiations between the parties involved. It’s essential for both parties to clearly understand and agree upon who will be responsible for which costs before closing.

Negotiating the best price when buying a property requires a strategic approach, good research, and clear communication. Here are some steps to help you effectively negotiate:

1. Do Your Research

   • Understand Market Conditions: Research the local real estate market to know whether it’s a buyer’s market (more properties available than buyers) or a seller’s market (more buyers than properties available). In a buyer's market, you have more negotiating power.
   • Compare Similar Properties: Look at recent sales of comparable properties in the area (known as "comps") to gauge the fair market value. This helps you understand the property's worth and provides a basis for your offer.
   • Know the Seller's Situation: If possible, find out why the seller is moving. If they need to sell quickly (e.g., for a job relocation or financial reasons), they may be more willing to negotiate.

2. Get Pre-Approved for a Mortgage

   Having a mortgage pre-approval shows the seller that you’re a serious buyer with the financial capability to close the deal, which can strengthen your bargaining position.

3. Start with a Reasonable Offer

   • Don’t Lowball: While it’s important to start below the asking price, an offer that’s too low can offend the seller and potentially ruin the negotiation.
   • Justify Your Offer: Provide a rationale for your offer, such as the property’s condition, necessary repairs, or how it compares to similar homes that have sold for less.

4. Negotiate Beyond Price

   • Ask for Concessions:If the seller is firm on price, ask for other concessions, such as covering closing costs, including appliances or furniture, or making repairs before closing.
   • Consider the Closing Date:Offering flexibility on the closing date can be an attractive bargaining chip, especially if the seller has specific timing needs.

5. Highlight Your Strengths

   • Be a Strong Buyer:If you can make a larger down payment, are paying in cash, or have a flexible closing schedule, emphasize these strengths. Sellers are more likely to negotiate with a buyer who presents fewer risks.

6. Be Ready to Walk Away

   • Set a Limit:Know your maximum budget and be prepared to walk away if the negotiation isn’t going in your favor. This demonstrates to the seller that you’re serious about not overpaying.
   • Stay Emotionally Detached:Don’t let your emotions drive the negotiation. Be objective and stick to the facts.

7. Use an Experienced Real Estate Agent

   • Leverage Expertise: An experienced real estate agent knows the local market, understands negotiation tactics, and can advocate on your behalf. They can provide invaluable advice on how much to offer and what concessions to ask for.

8. Conduct a Home Inspection

   • Identify Issues: If the inspection reveals issues with the property, use this as a bargaining tool to either lower the price or ask the seller to address the problems before closing.

9. Make the Offer Contingent

   • Include Contingencies: Protect yourself by including contingencies in your offer, such as financing, appraisal, and inspection contingencies. This gives you the option to renegotiate or withdraw your offer if issues arise.

10. Be Patient

    • Don’t Rush: Give the seller time to consider your offer and be ready for some back-and-forth negotiations. Patience can sometimes lead to better terms.