It’s really hard to know where to begin as a buyer, undoubtedly you will have alot of friends, family and work colleagues around you all giving different opinions and ‘ways’ to do it. So we have decided to create our top tips to give you a head start, compiled from over a decade of experience.
Finding a Property
Finding a property sounds easy, but it isnt.
Firstly you need to establish what it is you ‘want’ from a property and what you ‘need’. The best way to do this is to compile a list. the list needs to have 5 things you ‘need’ and 5 things you ‘want’
For example, you may ‘need’ three bedrooms, and for the property to be maximum 20 min walk from the station, you may ‘want’ and downstairs wc, or a study. – Then when your looking, if a property has 5 of the 10. go and look at it, if it have 7 of 10, then offer on the property (it is highly unlikely to find something with 10 of 10).
But where to look? of course you have the potals like Rightmove, Zoopla, Primelocation (also part of Zoopla), On the market, Property heads and the soon to launch Homesearch.
However, they are not the only places to see property, follow local Estate Agents on Facebook and instagram to see what they are up to, and what they are photographing (to get ahead of the crowd).
Also, speak to the agents, call them weekly to ‘check in’ and see if they have anything coming up, you’ll be surprised what you will get to see before it goes on the portals by trying this tactic.
Choosing a Lawyer/Conveyancer/Solicitor
This is Really important, a good solicitor will be the difference between a quick and easy transaction, or a slow and painful one.
A Good proactive solicitor will be worth their weight in gold. A Bad solicitor could mean you are waiting a lot, lot longer to move in, or worse cause the chain to fall apart. It’s wise to also stay local, that way if the solicitor is not responding to calls or emails, its difficult for them to ignore you sat in their reception.
I need to get a mortgage…
Thats fine, most people tend to go straight to their bank, as they feel they may get a ‘deal’… but it may not be the best deal.
You would be shocked if you knew how many lenders there were in the UK, and infact its more then you or I could name!
Thats why its so important to speak to a independent mortgage broker, and no, i dont mean one sat in an Estate Agents (as they likely need to give the agent commission) i am talking about someone separate to any Estate Agents.
Often, they charge a fee, recently we have heard anything from £295-£2000. however there are some out there who will do it for free, as they get paid by the lenders instead of you.
always be sure to check them out on Facebook, and google to check reviews then get in touch, we are aware of a number of local brokers who provide a free service, get in touch for their details.
Negotiating a Purchase
This part could save you £10,000’s.
Negotiation is an art, why else would the army and police have trained negotiators? or the UK government? it’s because there is a way to do it correctly.
It’s very rare that a buyer attempt to negotiate without letting their emotion dictate where the negotiation leads to.
It is really worth considering an agent to negotiate on your behalf, it may cost you a few hundred pounds, but it could save you thousands. they, like us have decades of experience negotiating prices on property, along with not being emotionally connected meaning you stand the best chance to get the best price on a property.
the experience is there, use it to your advantage.
The Purchase Process
This is a complicated one, so we have created this nice diagram to help explain the steps from a sellers & buyers perspective.
We are here to help….
if you are not knowing where to start, and have questions please give the office a call where one of the team will happily help you.
Alternatively, if you would like quote or a chat with our recommended Mortgage Broker, Conveyancer/Solicitor or buying agent specialist, please give us a call on 01268 500988
And don’t forget to check out our advice and tips page where you will find a ton of helpful ideas – http://nestinessexestateagents.co.uk/journal/