Here's some pointers to help you along the way
The buying process begins with viewing properties which are of interest to you
Once you’ve found a home which measures up to your requirements you need to consider how much to offer
Many things need to be taken into account when making an offer
Properties are priced usually with a prefix eg: Offers Around, Offers Over, OIR or in the case of auction properties Bids Over. Ultimately there is no set rule. Just keep an eye out for the price prefix.
If a property attracts many buyers, it may well achieve its asking price or even more.
Once your offer or bid is "on the table", the sales negotiator will contact the owner for a response. Your offer may be accepted immediately or the owner may indicate what offer he/she is willing to accept. Negotiations will continue until your offer is accepted or the owner and/or you decide not to proceed further.
Once your offer has been accepted if you don't have cash, you will need to quickly arrange a mortgage.
At Dowen we will not proceed further until we have proof of cash or proof of your mortgage
If you are a cash buyer you may well decide to commission a Private Survey. Dowen can assist you with this. See I Need A Survey on the home page of this website
Once you have applied for your mortgage the lender will initially obtain various references, eg: from your landlord, current mortgage lender, employer, etc, then appoint an independent surveyor to inspect the property. The surveyor will produce a report and in most instances the lender will provide you a copy of the report.
The surveyor may recommend that additional inspections are needed, eg: for damp proofing, wall ties, electrics, etc. Dowens will assist in obtaining such reports on properties being sold by ourselves
When buying or selling a property you will need a solicitor to carry out the conveyancing. This, in layman's terms, being the legal work required to transfer the property from the seller's name to the buyer's name
There are many solicitors practicing in most areas. You may already have a family solicitor or prefer Dowen to recommend one.
Dowen will write to your solicitor on your behalf advising them of the details of your purchase along with the seller's name and solicitor
Conveyancing involves a considerable amount of work by the solicitors concerned.
The following gives a brief outline of what is involved.
On completion day if you have not already paid a deposit you will now need to do so, along with your solicitor's fee. Your solicitor will obtain any mortgage monies from your lender and transfer this and your deposit to the seller's solicitor.
Once the sellers solicitor confirms that funds have been received the sale is completed and you can collect the keys to your new home. Often these will be held by Dowen, but ensure you check before the completion date what arrangements have been made for the keys.
As soon as you know your completion date make sure you book a removal firm, if you need one, and arrange for telephone, broadband and TV transfer or a totally new connection.
Simultaneously with moving in try to arrange for :
METERS TO BE READ in your new home and previous home if you are moving out. Advise the utilities
MAIL TO BE REDIRECTED
ADVISE The Local Authority & Water Company, etc that you have moved in (and moved out)
WRITE TO/E-MAIL ALL THOSE who you have regular contact with, eg: friends, relatives, bank, etc. to advise of your new address