We understand that buying a property can be both exciting and overwhelming.
To assist you in making well informed decisions, we have put together this comprehensive buyers guide to help you on your way.
We provide impartial advice and practical tips to navigate the process smoothly, even if you’re not yet viewing properties with us, we are always happy to meet people and have a chat.
If your next property is reliant on selling.
We would advise 100% yes you should market and sell. You're in a much stronger position to view property and make a genuine offer, once you have a firm offer on your own property.
Also some sellers will only allow viewings if a buyer is proceedable.
However, you should always be transparent to the buyer about your position if you're not moving until you find a suitable place. This will remove pressure on you.
Considerations:
- Make sure your buyer has time for you to find something, and set realistic time parameters so everyone is happy with the situation.
- When considering the offer or making a decision on a potential buyer, if they are a mortgage buyer, they should already have an AIP (Agreement in Principle) in place, and know the expiration date. A good agent would have this information as standard.
Knowing what you want
Budget planning
It’s crucial to establish a realistic budget before diving in and going shopping for your new property. Workout all your current monthly commitments, such as your savings, utilities costs, credit cards etc. Your mortgage provider will also require this to calculate your exact borrowing capacity. Doing this will put you ahead of the game. The mortgage adviser will also help to understand any other costs like stamp duty, insurance, maintenance expenses, Solicitors fees etc.
AIP (Agreement in Principle)
AIP is a validated mortgage pre-approval, from your broker or bank. It’s always best practice to get this in advance, so you're considered serious by agents. It puts you in a much stronger position when arranging viewings and eventually when you're ready to offer. Some agents won’t even take appointments for viewings without this.
Deciding on a mortgage can be difficult
You could speak to your bank who already knows or other banks you don’t know, however they can only offer you the products they have in house, this may potentially limit your options. Alternatively you can use a mortgage broker. They generally have a much wider view of what's available in the whole market. They will offer you products that are inline with your needs, without being biassed to a particular lender. Your mortgage broker can make all the difference, when understanding the facts of how much you have to spend. Knowing all of this in advance saves you time and possibly disappointment. In the long term this can be the difference between, securing that property you want or losing it to someone more prepared.
Property what's available
Take advantage of online listings, property portals, and estate agency websites to explore a wide range of options. Always worth registering to get the properties before they hit the portals.
Before you go on viewings, it’s worth taking a drive by to see how you feel about the location. In most cases, you will know from your first impression if you could live there. Even if it’s an investment for rental you want it to be appealing for potential tenants so it would rent easily.
Once you’re happy on location, you can view properties that are real contenders.
Viewings
When booking the viewing, ask the agent what is the seller's position, with regards to chain free or still looking for a property etc. We would always make you aware of this.
However, some agents don’t give this information without you asking for it. You need to know where you stand, even before viewing, making sure your timeframe and that of the seller can work for you.
Pay attention to details, such as layout, condition, and potential renovation requirements. Take a notebook or make notes on your phone, so you can refer to them later, this may be helpful when deciding how much you would offer, or if you would rather walk away.
Make an offer
When you find the perfect property, it's time to make an offer. Work closely with your estate agent to determine an appropriate offer price and what you want it to include i.e if you want any fixtures and fittings.
Always make the offer in writing so that there are no grey areas. This will also become part of the memorandum of sale, and detailed in the sales contract.
Finalise the purchase
Once your offer is accepted, coordinate with your solicitor or conveyancer to finalise the necessary paperwork. You will need to arrange for a survey and mortgage valuation with your lender.
Ensure you have the necessary funds available for the deposit and any associated fees.
Conveyors or solicitors
Once you identify a property you like and your offer is accepted, you need to instruct your conveyancer or solicitor to do all property checks. This involves investigating the property's history, title deeds, surveys, and planning permissions.
It’s always best practice to use local and recommended conveyancing services. If you don’t already know of a good company, we could always recommend one for you.
Get a home inspection
If you have any doubts on the condition of the property, it’s worth considering a professional home inspector to survey the property and identify any potential issues. This inspection can provide you with valuable insights and help you make an informed decision before proceeding with the purchase.
Remember, buying a property is a significant investment, and taking your time to research and make informed decisions is always advisable.
We are always here to support you every step of the way. We pride ourselves on providing personalised service, expert advice, and a seamless experience.
Feel free to reach out to us with any questions or assistance you may need. Happy house hunting!
Make a list clearly outlining your requirements. Consider all the factors such as, type of property, location, size, amenities, and proximity to schools, transportation, and other essential services, does the location fit your lifestyle and budget. This will help narrow down your search and save time in the long run.