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Buying a home

 

Steps to Buying a Home, Simplified

If you are new to the property buying market, we have simplified the steps of buying a home below. Remember, there is always someone to talk you through the jargon and legal requirements. No question is ever a silly one. One Agency Country to Coast are here to facilitate your real estate experience.

 

Know your limit, talk to your bank or broker

Make sure that you have enough cash to meet deposit requirements (normally 10%). Engage a mortgage broker or bank to talk you through this process. You need to be clear about deposits, finance, and lending to submit an offer on a property.

If you are raising finance for your property via a loan, your solicitor or conveyancer will need to supply certain documentation to your lender.

 

Do your research

Finding a new home is an important one, so take your time in researching and shortlisting properties that tick the boxes. Narrow down where you want to purchase your new home. Research properties on the market and recently sold properties to gauge market prices. Once you have your shortlist, attend open homes and/or private appointments. One Agency Country to Coast are here to answer your questions if you have a query.

 

Engage a solicitor or conveyancer

Once you have found a property you are interested in purchasing, request a Vendor Statement (Section 32) from the agent and understand what is in it. This document contains all the information about the property that is required by law that the seller must provide to the buyer.  If you need anything in this statement clarified, ask questions, or seek solicitor or conveyancer opinion.

 

What are your conditions?

Discuss your conditions of making an offer. Things to consider are;

·       Finance, how much will you be lending?

·       Building inspection? Do you require an inspection at your cost?

·       Pest inspection? Do you require an inspection at your cost?

·       Sale? Is your offer dependant on your current property selling?

·       Or is the offer unconditional, meaning you have secured finance and do not require inspections as above.

 

Making an offer

Some real estate agents collect offers differently, know how the selling agent will submit your offer to the vendor. You will know your conditions and what you are prepared to offer for the property for sale. Discuss with your agent.

At One Agency Country to Coast, we submit all offers to the vendor as a written offer. This enables the vendor to see exactly what is being offered in a formal way. This will assist the vendor in deciding on their best option when more than one offer had been submitted.

 

Signing contract of sale

Read and understand the contract of sale. This will provide the conditions of the sale and what dates deposit and settlement amounts are to be paid. Seek legal advice from your conveyancer or solicitor if unsure before signing.