Buying a property is one of the biggest investments you will make so it’s important to get support and advice. Whether it’s for yourself, a family member or as an investment, purchasing a new property can be exciting yet at the same time it comes with a lot of planning, preparation and worry.
As the economy recovers and with the prospect of higher interest rates on the horizon, the demand for properties is high especially in London and the south east.
Here at Sterling De Vere, with over ten years’ experience in buying, selling and letting properties, we have written this post to help you avoid the stress and worry of buying a property and even make it a more enjoyable experience.
The first step in buying a new home is to visit and register with estate agents in the area that you’re interested in. You can also look online on popular property websites as most reputable agents list their properties online. It is important to make sure you have your finances ready as you will be asked to show proof of your deposit when you arrange a mortgage. After you’ve seen a property that catches your eye, you will be recommended to head out to a viewing.
Sterling De Vere’s top tips on what to watch out for:
- How much is the property and what is it actually worth?
- How long has the property been on the market for?
- Have there been any other bidders?
- When does the seller need to move out by?
It’s important to make quick decisions when dealing with a competitive market so after viewing a few properties in your target area you should consider making an offer.
When making a bid, we highly recommend the following guidelines:
- Be confident in your bid by doing thorough research.
- Know the value of your property by checking what similar houses have sold for recently.
- If you are part of a group viewing, establish your financial credentials and avoid making an inflated offer. Sealed bids are becoming more commonplace so try to avoid making an over inflated offer.
- The seller and estate agent will then make a decision based on the bid, which buyer is chain-free, or is a cash buyer.
If you are fortunate enough to have a bid accepted, here at Sterling De Vere, we recommend that you have a survey carried out on your new home so that you can ensure everything is in good condition and that there are no serious faults in the property.
Once your offer is accepted there are a number of financial and legal tasks that must be completed before you move in. These can take some time and the wait can be frustrating as you prepare to move. Finally, you can celebrate your move on the day completion takes place and you are handed the keys to your new home.
At Sterling De Vere, we are here to help you every step of the way.