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Buying a property may be one of the largest financial commitments you will ever make. We have put together this step by step buying guide as a helpful reference to assist you with the purchase of your next property.
Mortgage in principle
It is always good to have an idea of how much you can borrow before you start looking at properties. A good mortgage adviser will help you find the most suitable mortgage for your individual financial circumstances. We can put you in touch with a mortgage expert.
Viewing
Arrange a viewing as soon as you have found the ideal property. Before you view the property get to know the local area, this will give you a chance to consider any questions you may have for the vendor. Have a good look around the property and take notes. Always try and go back for a second viewing. It can be beneficial to have someone accompany you. View several properties so you can compare and form your own judgement with regards to price and suitability.
Most vendors make every effort to ensure the accuracy of the details in their schedules and advertising but you cannot always guarantee that they are correct. Always verify the details, particularly the asking price, room sizes, ownership and the tenure of the property before you make an offer
Negotiating offer
This will involve a discussion with your solicitor about details of the offer you want to submit, which will include not only the price you want to pay for the property, but also the entry date and the fixtures and fittings to be included in the sale.
Submitting Offer
A written offer will be submitted to the seller through their agent. We will ensure that where a closing date has been set, your offer is lodged on time and in the most relevant format.
The selling agent will advise your lawyer whether the bid has been successful or not.
Formalities
Once your offer has been accepted it will be necessary to make arrangements for your property to change ownership, this involves the preparation of the transfer document.
Financing/Activating Mortgage
It is important to arrange your mortgage and life insurance as soon as your offer is accepted.
This will ensure the appropriate finance is in place to enable you to purchase your new property. Blackadders can arrange this for you.
Keys
Once the finance goes through on the date of entry agreed your solicitor will hand over the keys to your new property.
Will
As a property owner it is important that you have a Will.
