A Simple Guide to Buying a Property

Buying a property can feel overwhelming, but with the right preparation and support, it can be a smooth and rewarding experience. This guide outlines the key steps to help you buy with confidence.

Budgeting

Before beginning your search, it’s important to understand how much you can afford. Speaking with an independent financial advisor who has access to the whole market can help you secure the most suitable deal, rather than limiting yourself to a single lender. Remember to budget for additional costs such as stamp duty, legal fees, and removals.

Your Property Search

Start by identifying what matters most to you. Creating an “Essential” and “Would Like” list can help clarify your priorities, though these may evolve as your search progresses. It’s also worth considering how much work you’re prepared to take on, from cosmetic updates to larger projects that may require permissions.

Registering with Agents

In a competitive market, registering directly with estate agents is essential. Many properties sell quickly, sometimes before appearing online. Visiting agents in person and maintaining regular contact ensures you are considered early when suitable properties become available.

Viewings

Arrange viewings as soon as possible, as demand is often high. At Home Counties Estate Agents, we accompany all viewings so we can answer any questions you may have about the property, the local area, or investment potential. When viewing flats, always confirm lease details, including length, service charge, and ground rent.

Making an Offer

Once you have found the right property, submit your offer promptly and in writing, outlining your price, financial position, and mortgage agreement in principle. We may also ask you to speak with our independent financial advisor (with no obligation) so we can confidently present a fully qualified offer to the seller.

Offer Accepted

When your offer is accepted, we will issue a Memorandum of Sale to all parties and solicitors. Your mortgage application should be submitted without delay. If required, we can recommend trusted local solicitors, although you are under no obligation to use them.

Surveys and Conveyancing

Your lender will arrange a mortgage valuation, and you may also wish to instruct a Homebuyer or Building Survey for additional peace of mind. During conveyancing, solicitors carry out searches, raise enquiries, and prepare the contract. Once all matters are agreed, you will sign contracts and transfer your deposit.

Exchange and Completion

At exchange, the transaction becomes legally binding and a completion date is agreed. On completion day, funds are transferred, ownership changes hands, and you can collect your keys.

Congratulations — welcome to your new home.