Buyers

BUYERS GUIDE

STAGE 1

• Your first port of call when buying a property is to ask yourself how much you can realistically afford to borrow (Speak to one of our Mortgage Advisors)
• Location Location Location find which area you would like to live in
• What type of property am I looking for? An older property, new build, land to build your own
• What size of property for example the number of bedrooms, reception room, gardens etc etc
• What amenities are nearby, school catchment area, local transport, distance to motorway networks

STAGE 2

SEARCHING FOR YOUR PERFECT HOME.

IDEAL HAVE SOME FANTASTIC SEARCH FACILITIES TO HELP YOU NARROW DOWN THE SEARCH RESULTS TO FIND EXACTLY WHAT YOU ARE LOOKING FOR

• WEBSITES: www.rightmove.co.uk, www.zoopla.co.uk, www.primelocation.co.uk
• Being able to search by your current location
• Searching by you price range
• Searching by property type
• Number of bedrooms
• Enter your own key features

STAGE 3

VIEWING A PROPERTY

• Arrange a viewing, ideally in the daylight.
• Take a friend or a member of family with you for a second opinion
• Check the property internally and externally
• Take notes
• Ask questions about the neighbours, area
• Do homework on schools, crime rating, public transport and amenities
• It's always a good idea to have a second viewing

MAKING AN OFFER

When you are ready to make an offer check how long the property has been on the market, what similar properties in the area have sold for and what the current demand is, that way you will be able to make a realistic offer which is most likely to be accepted. 

The estate agent will ask if you are a first time buyer or chain free as this will mean you can move quicker and could appeal to the vendor, putting you in a more favourable position.

ONCE THE OFFER HAS BEEN ACCEPTED

Once the offer has been accepted, it is worth asking the seller to take the property off the market to hopefully avoid other potential buyers from making offers. The estate agent will usually ask for details of your solicitor and mortgage offer in principle in order to action this.

It is now time to get all the legal work and necessary surveys completed. Unless you are a cash buyer, you will need to complete the lenders application form and forward on any documentation required such as:

• Proof of address (for the length of time specified by the lender);
• Proof of identification;
• Your P60 and Proof of earnings (for the length of time specified by the lender);
• Bank statements (for the length of time specified by the lender);
• Utility bills (for the length of time specified by the lender).

A mortgage valuation will be carried out on the property. To have a more detailed survey carried out, take a look at the different property surveys available. Once the valuer has completed the survey and sent the reports to the lenders, provided they are satisfied with the price agreed, you should receive your formal mortgage offer along with the square footage of the property and the re-instalment costs that you will need for your building insurance. 

Your solicitors will be busy progressing the draft contract of the house purchase and running searches on the property. You will also need to start looking for buildings insurance, as once the property has exchanged, you are then liable for the property.

Ideal will keep you up to date throughout the whole sales process and are here to help every step of the way.