Guide to Buying

Before viewing any properties you must be prepared to make an offer and have the required documents ready, whether that be proof of funds or a mortgage in principle. It is beneficial for you to tell the agent a bit about you and your background, for example if you are a first time buyer with a mortgage in principle, cash buyer or investor. This way the agent is able to understand your situation further and provide appropriate advice where required. Having your documentation / funds at the ready will allow you to place an offer straight away and avoid the possibility of another offerbeing accepted beforehand.

Finding your dream property can be difficult, before you start the search it is important to know what you are looking for. What type of property would you like? How many bedrooms do you need? What areas are you interested in? Having all of these boundaries set will allow you to filter results for properties in your price range making the search a lot easier. It is recommended to set property alerts on Rightmove as well as agents websites, being the first to know about new properties or even price reductions will allow you to get a head start on other potential buyers. The next step is to arrange viewings for all of the properties which caught your eye, viewing multiple properties will allow you to see what it is that you like and what you don't like.

Once you have viewed you dream property it is time to make an offer. It is important to remember that the asking price of the property may not be the final price that the seller will accept. Be sure to make an offer lower than your final budget to allow movement for price negotiation. Once the offer is accepted by the seller you will receive confirmation in writing and your property search is complete.

As soon as you’ve agreed a price for your property you will need to choose a solicitor, the role of a solicitor is to manage the conveyancing process and ultimately transfer the legal ownership of the property. It is important to research prices, average completion time and suitability of each solicitor. Most solicitors will charge a fixed fee which you will need to take in consideration alongside your budget. Once you have appointed your solicitor you are ready to go!

A survey is required during the conveyancing process before the purchase of your new property can be completed. A survey is used to identify any structural problems at the property and to provide advice on the property’s value alongside any recommended price reductions. Once the survey report has been received by the lender, a formal mortgage offer will be sent to yourself and the solicitors which will need to be signed and returned in order to move onto the next step of the sale.

In the final stages of your purchase, the survey and the searches have been completed and your mortgage has been approved. You are now ready to exchange contracts. At this stage both parties will agree to a completion date which is the date that you will receive the keys for the property. You will now need to pay your propertydeposit / funds and the contracts can then be signed by both parties.

Congratulations! You have completed the purchase of your new property! At this point it may seem like it has been a waiting game for that one telephone call. Once the funds have been processed, the estate agent will await a call from the solicitor to advise that the purchase has completed. Once your agent has confirmed with you that the purchase has completed you are able to collect your keys to your new home and move in. Happy new home day!