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TIPS ON BUYING IN DOCKLANDS
Estate Agents
Let Benjamin Caine’s Docklands office know your needs - our Docklands Estate Agents' branch can be found on our headed paper and our website. We are here to help you buy a property in the Docklands. We covering properties in E14 and E16 postcodes.
Provide our estate agents with all your contact details and e-mail addresses - if what you are looking for comes on the market in Docklands you want to be the first to know!
Work closely with the estate agents, we have local knowledge of the property market and house prices in Docklands. Most importantly, help us to help you. The more information we have on the property you hope to buy. The more chance we’ll have of finding you your dream home.
The Property
Work out your budget:
- Standard lending ratios are usually three times the principal earner's gross income plus one times the second, or two and a half times joint gross income.
- Consider your existing equity, savings, moving costs and your likely general credit rating.
Decide what you want to buy. Make a wish list of essential criteria:
- Style, size, age, numbers of rooms, garaging, parking, garden etc.
- Still remain open-minded - lots of people surprise themselves with what they end up buying.
Consider the wider picture:
- Location, communications, local facilities, schools, clubs
- Is this a long term move? How will your property needs vary in the future?
Viewing Properties
Arrive in the area early to get a good feel of the neighbourhood, and prepare any local questions you may wish to ask.
Do not make an instant judgement. Don’t be influenced by the sociability of the vendors, their taste in furnishings or the tidiness/untidiness of the interior as you know, you’ll keep your home in a different way anyway.
Assess the accommodation that the property provides.
Assess the general state of repair: Roof, walls, windows and doors, plasterwork, wiring, plumbing and heating, kitchen fittings and bathroom sanitary ware.
Have improvements been carried out / will they be required (e.g. double glazing, insulation, D.P.C., kitchen)?
Assess the neighbours, the street and the general condition of other properties around - is this street reliably steady, on the up, or going downhill?
Consider where the morning and evening sun will be.
If you are interested try to revisit at a different time on a different day when the area may be busier.
Action for buying a house in Docklands
Buying a house can get stressful; get off to a good start:
- Print this checklist, take it with you and make notes.
- Benjamin Caine’s Docklands Estate Agents' branch can help you ith any questions you may have about buying a property in the Docklands or East London in general. Sending your details through will get us working to find you, your perfect property.
TIPS ON SELLING IN DOCKLANDS
The Estate Agent
Ask a few Docklands agents to value your property. Be objective about what they say and do not be unduly critical if is not what you wanted to hear! We will try to be as accurate as possible and will often suggest putting the property on the market a little higher than the last one sold in order to push the market as well as possible, without scaring away any real potential buyers.
Do not necessarily choose the agent with the cheapest fee; you want your property advertised and 'sold properly' in all respects.
Choose an agent that belongs to a professional body such as:
- Ombudsman Estate Agency (OEA)
Benjamin Caine have registered with the OEA and are also looking to join ARLA later in the year.
Read ALL the small print if you decide to use a sole agent. Multiple agents could cost you more, but may increase your chances of selling your property. We advise that you choose one agent, us. We will market your property with professional photographs, colour floorplans and location maps. We can arrange Home Information packs (HIP’s) and answer any questions you have. We have local knowledge of the Docklands and we are very competitively priced too when it comes to selling your property in the Docklands, E16 or E14.
State any fixtures and fittings to be included in the sale.
Make it clear to us the minimum value you are presently willing to accept from a buyer. We don’t want to have any problems selling your property in the Docklands and clear targets for pricing is crucial.
Your Property
Take a critical look at the outside and inside of your home and decide what small items are realistic to quickly improve.
The exterior of your home will be the buyer's first impression. Ensure the garden is neat and tidy, outside lights are clean and working, all fixtures such as door handles are secure.
Prepare your home by cleaning, repainting (if necessary) and completing any unfinished DIY job! Create more space. Pack away, throw away or take to the charity shop any unnecessary items and be ruthless. The more you do now, the less cluttered your house will look, and the less packing you will have to do when you move.
Viewing A Property
Arrange viewing at times that you can realistically have the property looking good, kitchen cleared, grass cut etc. The property needs to be tidy.
Create a nice atmosphere, pleasant fragrances, and flowers and turn the television off. In the winter, light any fires and have the heating at a comfortable level. In summer open windows.
Be ready for questions about the property, neighbours and the locality.
Be clear about your own reasons for moving-on, time scales and flexibility.
Leave it to Benjamin Caine to do any serious negotiating with the property buyers.
Action for selling property in Docklands
E-mail us a request to contact you for initial discussions about the free valuation.
TIPS ON RENTING IN DOCKLANDS
- Let lots of agents know what you are looking for so you get a really good selection to choose from.
- Inform us, the letting agent of your criteria (location, budget, furnished/unfurnished, occupation date requirement, tenancy period and any other aspects that are important to you).
- Expect to pay a deposit of between one month – 6 weeks rent. And also some administration charges.
- You will be required to provide references.
- Ensure you read and understand the tenancy agreement. The Citizens Advice Bureau may check this for you. Clarify what is NOT included in the rental fee, such as council tax, utility bills, ground maintenance etc.
- Examine the inventory and keep a copy.
- Check restrictions: sub-letting, pets etc. Can you redecorate?
- Notify defects in writing as soon as they become apparent (even if you do not want them remedied).
- Establish what is covered under maintenance (boilers, refrigerators, radiators etc.).
- Usually, you will not have to deal with the landlord directly. Should you have any problems or queries, direct them to your agent first.
- Other issues to consider are, parking, public transport availability etc.
Action to rent a house or flat in Docklands
Register with Benjamin Caine Letting Agents' with your requirements. Do it now!
TIPS ON LETTING OUT YOUR PROPERTY IN DOCKLANDS
Choose a letting agent that is registered with:
- Ombudsman for Estate Agents (OEA)
Get a good contract which will be the Tenancy Agreement. Think about any restrictions you wish to place on the tenant and the use of your property.
Try not to be too tough - if you exclude smokers, pets, students, small children and short term lets, you will narrow the market for your property considerably.
Ask for a rent that is realistic and affordable to your potential tenants. The big difference in profit at the end of the year will be dependent upon how long the property stood empty - reduce the voids! At Benjamin Caine we know how far Letting Agents will go to ensure your property does not remain empty for long. As a Landlord, you need to make sure that you feel the same. Telling your Letting Agent that you would rather leave the property empty for 6 weeks, than take an offer which is 10% lower than the asking price makes no sense. It works out to be the same amount of money in the bank at the end of the year. So do your sums and listen to your letting agents’ advice.
Action to let property in Docklands
Notify Benjamin Caine that your property is going to become vacant as soon as you find out, even if its 8 weeks before the tenants will move out. This helps us to avoid gap periods for you.We will give you a free valuation of your property in the Docklands and let you know what the likely rent will be for your property. We are always happy to try to achieve a little more but all agents you use should be advertising the property at the same price.
Energy Performance Certificates (EPC)
Energy Performance Certificates, or EPCs, are set to be available to all new tenants from October 1st 2008. Outlining the energy efficiency rating and the environmental impact rating of a property, potential landlords will be able to gain access to both the estimated running costs of a property, the carbon footprint created by the property and also show any recommendations that could be made to improve the energy efficiency of a property.
The rating offered by the EPC will range from A to G, where A is very efficient and G is very inefficient, with the typical rating for a home being either D or E. These simple ratings will allow potential tenants to compare homes of interest to gain an insight into the difference in potential running costs.
EPC Advice for Tenants
- Be sure to check the EPC rating before agreeing to rent a property, a house with a poor rating could be liable to greater running costs compared to a similar house with a better rating.
- Be aware that landlords are under no obligation to improve the EPC rating of their property.
- Look into the possible grants and schemes offered by the Government to help tenants improve the energy efficiency of their home.
- Make sure that the EPC assessment has been made by an accredited Domestic Energy Assessor (DEA) - details can be found at www.epcregister.com
- Check how long the EPC has been in effect for, EPCs will be valid for up to 10 years.
EPC Advice for Landlords
- Commission your EPC now: an EPC will have a shelf life of 10 years so if you have a high turnover of tenants, don’t wait until the current ones are about to leave - commission your EPC now to save time and hassle further down the line
- Use an accredited DEA: ensure you use an accredited Domestic Energy Assessor (DEA) - details can be found at www.epcregister.com
- Be prepared: before the DEA arrives make sure you have all the information they will require, ready - date of when the property was built, info on whether the property has been extended or double glazed, whether walls have been insulated etc.
- Follow the recommendations: take time to review the recommendations in your EPC - if your property has received a relatively poor rating (F or G) then take steps to improve its energy efficiency such as cavity wall insulation
- Get help: There are Government schemes available which will allow landlords to work with tenants to improve the EPC rating of their property.
- Get advice: if you’re not sure on what changes will provide the greatest energy savings contact the Energy Savings Trust who will be able to give you impartial advice - www.energysavingtrust.org.uk
For more information on Energy Performance Certificates go to http://www.communities.gov.uk/ , and view the Government released booklet that helps to explain EPC’s in even greater detail.