Guide to Buying a Property
The most important thing to do is decide where you want to live, the type of home you are seeking, and to think about which features are essential and which ones you could do without. Deciding these matters in advance will not only help you rate houses when viewing, but will also help put your ideals into perspective when you come back to make the final decision of which property to buy.
You should bear in mind other costs associated with buying property including costs of any surveys, solicitors fees and stamp duty.
You should discuss your mortgage needs with our Mortgage Adviser who can advise you on how much you can borrow and the many options available to you. It is useful to us if you can obtain an agreement in principle with a lender prior to starting your search for a new home to ensure that you have no last minute delays.
“Location, location, location” is a phrase often heard when people are looking to buy a property and cannot be underestimated as to its importance. You should find out the level of crime in the neighbourhood, the level of council tax and the location and quality of local amenities available such as schools and public transport.
Once a suitable property has been found, you need to make an offer via Perry Bishop and Chambers which is usually subject to survey and contract. Once an offer price has been agreed, you will need to find a solicitor to act on your behalf for the conveyancing which means checking the legal aspects of the sale, for example, that the seller has the legal right to sell the property, that no-one has right of way over it and there are no land disputes. In addition your solicitor will carry out a Local Authority search which looks out for planning proposals, such as new roads, changes to road layouts, building developments in the vicinity and alterations to land use or public rights of way which may affect the property you are intending to buy.
Once all of the above has been completed, you will exchange contracts and you are now very close to your moving date. At this stage you have a legal commitment to purchase the property, likewise the seller has a commitment to sell so removals and utility companies can be informed. You should also remember to arrange the necessary insurance for yournew home which should be implemented at exchange of contracts.
Should you need any further assistance and guidance, please do not hesitate to contact your local office.