Surely one of the most exciting times and it should be! There's a lot to think prepare for though.
There's nothing quite like a face-to-face chat with us, but if you can’t make it to the office here's a summary of useful tips and reminders for you buyers.
Get your finances agreed in principal.
Before you get out and about and stuck into house hunting, do your research and find how much you can actually afford to spend or borrow. The best advice we can give to you is to speak to an independent mortgage broker to survey the market for the very best deals that are suitable for you in the marketplace.
Richard Horsnell of Foremost Financial (St James’ Place) is your man here. He’ll listen to your needs and provide you with helpful no-obligation options.
Call him on 07500 069647 or email him at firstname.lastname@example.org and get that ball rolling!
Once approved, make sure the lender puts their ‘in principle' offers in writing as you’ll need to provide this as proof of affordability when you make those offers.
Don't forget, you'll need to factor in things like stamp duty fees, solicitor fees and removal costs into your budget.
Get out there!
No, 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.
|Day 1||We’ll launch our properties to our registered buyers first|
|Day 2||Property launches on ChurchwoodStanley.com|
|Day 3||Property launches on OnTheMarket|
|Day 4||Property launches on Rightmove and Zoopla|
Register with us to stay ahead of the crowd.
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.
When we’re qualifying buyer’s positions we really need to know as much about you as possible so prepare yourself for the Spanish Inquisition!
Here’s what we’ll need and if you have it all to hand we can get stuck straight in to the negotiation!
Who are the buyers?
We’ll need everyone’s names, their current addresses, telephone numbers (and email addresses) plus a copy of photographic ID for everyone.
What is your exact purchase position?
Are you a first time buyer? Do you have nothing to sell? Are you buying with the proceeds from a property sale? Is that property sold (great!) or still on the market (not so). If your purchase is dependent on your sale, have to hand your estate agents details, the person that you are dealing with there and provide us with as much information about your buyers position as possible. We’ll check all this information out with your Estate Agent to understand your purchase position.
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.
We’ll have to see this to ensure affordability.
Have you got a solicitor?
Just like in estate agency (!) industry standards can vary wildly and, over the years, we’ve worked with most. Of course, we can recommend the very best and we highly recommend you talking to us about who is hot (and who is not) as a good solicitor can help keep those levels of anxiety under control and ensure that your sale runs smoothly. We’ll need the case handler’s name, the name of the firm and all of their contact details.
Money laundering regulations!
Have a suitcase full of cash? Whilst you may be a sellers dream we can’t get as excited as we adhere to stringent anti-money laundering regulations. When you offer we’ll provide you with an anti-money laundering form and we’ll be wanting to know not only do you have the money but what is the source of that money and is this proposed purchase legitimate. It’s down to you to prove this to us and we’ll need to be completely satisfied to be able to book the sale for you and remove the property from the market.
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 make you’ll need to make the arrangements yourself. You’ll either want a homebuyers report or a full buildings surveyor.
Dates, dates, dates. We get it! You’re excited!
Be wary though, the average sale takes about 12 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.
Whether it’s a man with a van or a professional moving firm you’ll need to plan ahead and make sure your possessions are in safe hands. You can only really book a removals when you have exchanged contracts, often they ask for a holding deposit and it’s only on Exchange of contracts that you have a moving date set in stone and the confidence to book these professionals.
There are plenty of great movers out there but we’ve had some really great feedback from clients who have used Weston and Edwards.