Investing In Real Estate
Buyers Guide
Are you looking to purchase your first home or next investment, this is one of the biggest purchase you are going to make in your lifetime and for first-time time buyers, it's an even more daunting process.
It involves lots of money, legal processes, requires a lot of energy and involves lots of people. No one wants to make a mistake while buying a property as it has huge consequences. To make things easy for you we have listed a step by step guide.
=========================
1 Pre-Plan
A ‘smooth’ transaction is considered to take between 6 to 8 weeks to complete. However, anything can happen during the buying process often, transactions can take longer.
You need A good estate agent, a mortgage advisor, a solicitor and a surveyor.
It is imperative that you pre-plan for any unforeseen circumstances.
2 Choose Right Estate Agent.
Your estate agent will advise you on the current market, help you with the search, arrange viewings. On top Estate Agent will refer you all the professional people you need to complete the transaction.
Warning... Not all estate agents stay up to date and have access to the full market.
3 Agreement in Principal
Working with the right mortgage advisor and lender is important to your success in completing the buying process. Lander will verify income and do credit checks. Getting an agreement in principle at this stage is your ticket to play the game.
4 Set the RIGHT Budget
To avoid any disappointments when looking for your perfect HOME, only look for properties which fall under your budget.
5 If you already own a property
Keep in mind that when buying additional properties, you will have to pay an extra charge in stamp duty on top of current rates for each band, so if you want to sell your first property to avoid extra charges, do so now.
6 Location, Location, Location
It’s important you decide the right locale that suits your needs, whether it needs to be close to a station for an easier commute to work, or close to local amenities. Whatever your preferences, you need to decide what area is right for you.
7 Choose a specific property
Once you know the area you want to live in, you should start searching for properties in that area, be specific, what kind of property do you want to buy? E.g. leasehold or freehold, end of terrace or detached.
8 Make an Offer
Once you find your dream home make sure that the offer is reasonable and keep in mind to leave yourself room to negotiate.
9 Finances in Order
Get your funds together, and ideally put them in one account, at this stage you want to choose the best mortgage deals.
10 Offer Accepted!!!
When your offer is accepted it’s the first sign of relief, however, be aware, the seller is not legally bound to sell at this stage, not until exchange of contracts.
11 Take property Off Market
Always ask the estate agent to take the property off-market as soon as your offer is accepted. It increases your chances of completing, as the likelihood of competitive offers drastically decreases.
12 Arrange a mortgage
Once your offer is accepted, you need to go back to your mortgage company with the agreed offer and complete the mortgage process. Be sure to look at all your available options, you can potentially save thousands depending on the deal.
13 Property Valuation or Survey
14 Legal Process
15 Mortgage Offer
16 Completion Date
17 Arrange Funds
18 Buying Extra’s
19. Complete the sale
On the day of completion, the money is transferred, and usually, you pick up the keys from the estate agents, you are now free to move into your DREAM home… CONGRATULATIONS!
20. Last Bits and Pieces. Cheers
Your solicitor will send you an account statement, covering all their costs and disbursements, now is the time to pay the stamp duty and any outstanding invoice.
Book A Free Valuation For Let :
https://realestateagentslondon.co.uk/...
===========================
You know the Social media drill friends:
============================
SUBSCRIBE - Your Subscription Is A Big Motivation For Us:
/ @realestateagentslondon
============================
Also, Follow Us on Facebook :
/ estateagentscanningtown
============================
Also, Follow Us on Facebook :
/ remaxstarestateagents
============================
Follow Us on Twitter :
/ remaxstarestate
============================
Or Please Feel Free to Call us at
Tel : 0207 055 0441
Email: [email protected]