The Buying Process
The Buying Process
BUDGETING AND GETTING THE CORRECT MORTGAGE
Before you can start your property search, you need to establish how much you can spend on a property. If you are not buying the property outright, you will need a mortgage.
IDENTIFYING LOCATION AND REQUIREMENTS
Choosing a next property usually involves a combination of three main factors; what you want, what you can afford, and what is available. Requirements will vary from one person to another, but most buyers’ decisions will be influenced to some degree by these factors.
INSTRUCTING A PROPERTY SOLICITOR
There are several legal documents and procedures that must be carried out when buying a property. For the transaction to move as seamlessly as possible, you will need a property solicitor or conveyancer who can handle all legal and administrative details.
SEARCHING FOR AND SHORTLISTING PROPERTIES
There are several places which you can search to find and shortlist properties that meet your criteria. These include looking online, in high street estate agents’ windows and in local newspapers.
To get the most out of your property viewings there are a number of checks you can carry out yourself, as well as questions you should ask your estate agent.
NEGOTIATING AND MAKING AN OFFER
There are several things to consider when negotiating and making an offer on a property.
AGREEING THE SALE, EXCHANGING AND COMPLETING CONTRACTS
Once your offer has been accepted, the final paperwork will be prepared ready for exchange and completion.
PREPARING FOR MOVING DAY
The day you move house is likely to be a busy one, but with some preparation you can make sure it is not a stressful one.
POSSIBLE PROBLEMS AND PITFALLS
Because of there being several different parties involved in the buying process, advanced planning will help to prepare you for any challenges and will make sure that the process is as seamless as possible.