I want to buy a property but I don't know how?
Before you start looking at the properties for sale, you need to know how much you can afford and your position. To get these answers you need to get financial advice. If your a cash buyer, a financial consultant/accountant can help. If you would need a mortgage you can speak to your bank and/or a mortgage advisor, we recommend: This email address is being protected from spambots. You need JavaScript enabled to view it.
I've found a property within my budget, what do I do now?
You need to book an internal viewing and if it is still the property for you make an offer you can deliver on (you may need to negotiate if there's other offers on the table). If your offer is what the seller is looking for it will be verbally accepted.
When do I appoint my Solicitor/Conveyancer?
Once your offer has been formally accepted the next stage is to introduce the solicitors/conveyancers to each other. You should have instructed them before hand so they can get started on the sale.
How long will it take for the sale to be completed?
Every purchase is different and many factors can affect the length a sale takes to complete. On average a sale can take between 8 to 15 weeks to complete once solicitors have been instructed. It can be quicker if you're a cash buyer with no chain.
How much does a Conveyancer/Solicitor charge?
A UK average for buying a house is £1,040. It all depends on the services you require to get the property to completion and the size of the property.
Do I need to pay Stamp Duty?
On your first home stamp duty is payable on anything over £125,000. If you already own a home and the purchase would be an additional property, stamp duty is payable on anything over £40,000.
Do I need to get a Survey?
If you're buying with a mortgage, your mortgage provider will carry out a mortgage survey on the property. A mortgage survey maybe chargeable depending on your lender. If you're a cash buyer it is up to you if you get a survey done and the costs vary.
Does the Estate Agent take my deposit?
No, all money regarding a purchase is dealt through your Solicitor/Conveyancer.
What are searches?
Your Solicitor/Conveyancer carries these out. They include searches of Land Registry, Local Authority Information, the planning history and any potential developments around the roads drainage and mining near the property.
When are both parties bound to the sale?
Until the signed contracts are exchanged between solicitors either party can pull out and the sale will be aborted.
How is the completion date chosen?
This is normally an agreement amongst both parties arranged through their Solicitors/Conveyancers.
When do I get my Keys?
On the date of completion once the sellers Solicitor/Conveyancer has confirmed completion and the estate agent can release keys.
Not answered a question you have?
Please contact us on 01274 498855 so we can help!
