Guide to Buying Property

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1. Sell your home first (if you need to)

In our mind, there's no doubt - SELLING FIRST puts you in the strongest position to find and secure a property and helps you:

  • Avoid selling under pressure.
  • Achieve the best possible price.
  • Be in a much stronger position to negotiate on the one you want.
2. Focus on your needs and not what you want from the property

I often hear buyers say, “I’ve been looking on Rightmove but I can’t find anything!” Not all properties at the upper end of the market go on to the property portals.

We work closely with our buyers taking time to understand exactly what they need from their next home. This means as soon as we take on new properties we know exactly who will be interested in that home.

Building a relationship with your estate agent is vital! Allow them to get to know you really well. Meet them for a coffee or pop into their offices for a relaxed chat. The more your agent knows what you need, the better they can help you. An example of your list of WANTS may be:

  • 4 Bedrooms minimum
  • Double Garage
  • Ground floor bathroom
  • Must be in XYZ

We look at your ‘WHY’. Your NEEDS list based on your ‘WHY’ might look like this instead:

  • Open plan living space because we like to entertain
  • We value our privacy
  • Relevant school catchment area
  • Parents will be living with us in 5 years so future proof for multi-generational living
  • We are or will be running a business from home

It’s also worth widening your search radius. It is a fact that the upper end of the market has less properties in smaller geographical areas so ensure you have as much choice as possible by considering other locations. If the property meets your needs, then your dream home could be only a few extra miles away.

3. Get your finances agreed in principal

Make sure you have your financial arrangements agreed before you start to look at properties. If you need a mortgage, start the arrangements. Work with a trusted financial advisor who if you are accepted will arrange a ‘mortgage agreement in principle certificate’ which supports you as a serious buyer!

If you have cash, prepare a letter from your bank/accountant or solicitor to show the estate agent when you offer. The agent has to check this and it will remain confidential.

4. Use recommended Solicitors or Conveyancers

Look for a recommended local solicitor who have the experience, the personal communication service and the desire to help you to reach your goal of buying your new home. A good relationship between your appointed legal representatives and your agent are vital for a swift sale and for any problem solving which may arise.

5. Get out there and VIEW!

Not all agents just list on Rightmove, good old fashioned Estate Agency is still going strong so speak to your local agent, register with them and keep in touch so that you’re always on their mind. Popping in to the branch is highly recommended as people are visual and more likely to remember your face than a phone call.

6. Making an offer

So you've found a property you're sure you want to buy – fantastic news. Now the nerve racking part of getting it secure begins. You should Establish the seller’s circumstances and timeframes, to ensure expectations are set from the start.

Regular communication between all parties will reduce assumptions and avoid disappointment when an offer is made. Be clear with your offer, be clear on why you need the property and be available to help answer any important questions in order to place you in a great position to be considered.

How are you funding it?

Cash buyer has to be the most misunderstood term in Estate Agency. Be clear on your position. Are you paying the whole purchase amount 100% in cash or is it cash from sale, perhaps you have a cash deposit but are getting a mortgage? Make sure you know the difference and are prepared to provide us with proof of funds (the source of those funds) and any written agreement of lending.

7. Establish a clear plan when your offer is accepted

Congratulations! You’re buying a house! Fantastic news, this is where the hard work starts.

There are two things we ask our buyers to do as soon as the sale is agreed. The first thing you must do straight away is instruct your solicitor, fill out their forms and return them in the first week. Get them working on your purchase as soon as your offer is accepted and ensure that you pay them the fee for ‘searches’ right away. Searches are obtained from third parties (either councils or third party search providers) so don’t be delayed by their timeframe, get these underway as soon as you can!

The second, if you need a mortgage is to formalise your mortgage application on the home you are buying. Get this done early and make sure the lender is instructed as soon as possible to carry out their valuation survey. If you’re a cash buyer and not reliant on a mortgage, you’ll need to make the arrangements yourself. You’ll either want a homebuyers report or a full buildings surveyor.

8. Dates

Dates, dates, dates. We get it! You’re excited!

Be wary though, the average sale takes about 12-16 weeks to complete. This can be faster (say for example there is no chain) but it can also encounter unforeseen delays. This makes completion dates very difficult to target in the early stages.

Unless you have a very specific requirement to consider, say you’re coming towards the end of a tenancy, concentrate on exchanging contracts and, once you’re there, that’s the time to start providing some potential dates when you can move.

When you’re at the later stages of the purchase, that is the best time to sound out potential moving dates to everyone else that’s related to your purchase and/or your sale.

…and if you have a holiday booked, make sure everyone knows when you are unavailable well in advance.