So you’ve found a property you really like. It’s practical, pleasant and - here’s the best part - you can afford it!
So what do you do now?
Finding a property is just half the battle, now you actually have to buy the thing.
The physical purchase of the property is where things can get a little overwhelming, with many things that you need to consider.
These include estate agents, bidding for the house, getting a survey, dealing with solicitors and finalising the sale.
The articles on this page have been created to help you transition from property bidder to property owner as smoothly as possible, so let’s get started.
Picture this. You’ve found the ideal property that suits all your needs, and you are now imagining yourself living in your new home.
So how do you make it a reality?
The first step of the purchase process is making the offer.
Now, making an offer is not as simple as bidding on an antique vase at an auction, you have to weigh up your deposit size and what mortgage lenders are able to offer you.
Also, you have to decide whether or not to offer the asking price that has been set by the seller to make sure you’re not paying any more than you need to.
These guides cover everything you need to know about making an offer on a property.
Once you’ve made your offer, you have to wait to hear what the seller thinks.
While you’re waiting, other potential buyers might be putting in their offers.
If a property is popular, you may find yourself involved in a bidding war.
This is where two or more parties compete with each other to purchase a property, each offering more than the previous offer until someone gives in.
A bidding war can be a challenge if you’re heavily invested in a property, and can cause issues if you don’t know when to stop bidding.
These guides cover everything you need to know about bidding wars.
Once your offer has been accepted by the seller, the next step is to make sure that what you’re paying is the correct amount.
A property survey serves to determine an accurate value of the property in question, and should be done BEFORE any contracts are signed between the buyer and the seller.
A survey can be a precautionary measure, (as most properties will have undergone valuation before the sale even began) but not getting a survey can result in not knowing the true condition of the property that you’re purchasing.
These articles cover all you need to know about property surveys.
Now that everything is in place to finalise the sale, all you have to do is secure the sale, sign contracts and get the keys to your new home.
Now that everything is so close to being finalised, it’s crucial to ensure that everything is as it should be to avoid any last minute disasters.
Don’t leave anything to chance, and get clued up on how to make your purchase go smoothly with these handy guides.