Let’s help you move home
Before you start looking for a specific property, it makes sense to choose a defined area and check it out. Try to visit a couple of times, look at all of the transport links, investigate local schools if appropriate, and look up other amenities that are important to you.
Please contact us and the first instance and we will access your situation to identify the price range within your budget. We will give you an acceptance in principle to enable you to be ahead of the competition. We then recommend you contact a number of local estate agents and give them a brief description what you want. Tell them what your maximum budget is (they will almost always try to get you to view properties which exceed your budget, but remain firm). Tell them exactly which area you want to live in and what type of property you want i.e. number of bedrooms a garden ext.
Viewing property is a time-consuming business, and you do not want to waste precious time being dragged around properties that don't interest you.
The golden rule is: take your time. Do not be rushed or pressured, or put off if the current owner is hovering. Try to visit the property a number of times, at different times of the day.
Keep your eyes open for any obvious defects, such as damp, and don't be afraid to ask the owner for utility bills to get an idea of how much the property costs to run.
Remember that the sale price is what the seller hops to get, not what they realistically expect. Many buyers will put under the asking - you can always increase the offer if they reject you at first. But your second offer should be a final and a serious one.
Also, bear in mind that popular properties may go for asking price - or even above asking price - when the market is booming.
Make your offer subject to contract and subject to survey, so you can withdraw if problems arise.
If the vendor is looking for a deposit please remember you are not obliged to pay it at this stage. (Exception new houses)
Once you have your offer accepted contact us or your appointed financial adviser to start processing your application. Do not instruct the survey unless you have your mortgage agreed first. Once agreed the lender will send out a valuer or carry out an automatic valuation, to ensure that the property is worth at least the amount they are lending. You often have to pay for this valuation (typically about £300 on a £100,000 property). There are various surveys that can be carried out so please ask the adviser to explain them to you.
Buying a home is a legal process, and a solicitor or conveyancer is usually used. The legal process of transferring property is called conveyancing.
The solicitor or conveyancer checks all the legal documents such as the title deeds. They also check with the local authority that nothing will impact on the value of your property. They will also check the lease of a leasehold flat, and what is included in the sale.
Once everything is in order, you sign a contract, which is exchanged with the seller, who signs an identical contract. You have to pay a non-refundable 10% deposit on exchange. You are now responsible for insuring the property, so you must arrange buildings insurance, unless you are buying a leasehold flat in which case the freeholder is responsible for the insurance.
A date can now be set for completion, which is usually within four weeks. On completion day, the legal ends are tied up, you collect the keys and move in.
Home Information Packs (HIPs), also known as sellers packs, were conceived with the intention of speeding up the house-buying and selling process by giving the customer more information up front.
The packs contain an Energy Performance Certificate with green advice on how to cut carbon emissions and reduce fuel bills. The certificate itself shows the energy efficiency of a property by measuring its average energy use per square metre of floor area. Other documents include a sale statement, standard property searches and evidence of title.
HIPs were introduction in June 2007 and implemented for four bedroom houses in September 2007. They are now compulsory for any property which is put on the market after November 2007.
Although fairly expensive, the upfront cost of a pack may be less than quoted from estate agents, mortgage lenders. We have a number of contacts for these reports so please ask for further information.