Carry out your mortgage research and find out how much you can borrow | |
Write a list of your property ‘needs’ as well as a ‘wish’ list (you are likely to have to compromise on something! | |
Research the market to find areas and property types you can afford/you like | |
Budget for the cost of your move AND for the costs of living in your new home (offer to email a budget sheet) | |
Make sure you have enough saved for your deposit and moving costs | |
Choose a legal company that will help you through the purchasing process (and not ignore your calls!) | |
Research the local Estate Agents, newspapers and walk around different streets/areas to find properties you might like to view | |
Identify and brief the agents about the property you want to buy | |
Carry out viewings, making sure you check on the property’s condition as well as working out how much you would like to live there. | |
Visit the property several times, taking notes of things that need doing, from sorting any bare wires, to having any cracks checked out | |
Work out what you think is a fair offer for the property | |
Make an offer via the estate agent, you can call, email or pop into the agent | |
Contact us to find out what to do if your offer is rejected | |
Offer accepted, this needs to be followed up via a letter from the agent | |
Organise an independent survey, ie not one offered by the mortgage lender | |
Finalise your mortgage offer and insurance so your buildings insurance is in place by exchange of contracts | |
Manage the purchase of your property via the agent and your legal company | |
File all the paperwork carefully - you'll need the paperwork when you come to sell | |
Organise your removals/packaging subject to exchange | |
Exchange contracts via your legal company | |
Organise your change of address | |
Complete your purchase and move in! | |
Pay any Stamp Duty (if required) and check the SDLT forms have been filed with the Land Registry. |
This blog follows the sales and buy-to-let markets in Bury St Edmunds. You'll find tips, guidance, and analysis that relates specifically to this town. You'll also find properties on here that may make decent investments. I manage Bychoice Estate Agents so if you're thinking of buying or selling a property in Bury St Edmunds, I'm happy to offer a second opinion.
Tuesday, 2 August 2016
Buying a Property Checklist
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