Guide to Buying
Here at HPS we understand how confusing and stressful buying a property can be, whether you are a first time buyer or an experienced investor the process can still be confusing and unfamiliar.
That is why our dedicated team is here to help you, from preparing for your purchase right thought to the day of completion and beyond our experienced team are here to help you every step of the way.
To help you understand the process from start to finish, we have prepared a step-by-step guide to walk you through the buying process.
1. Preparing to Buy
The first step for anyone looking to purchase a property is to prepare your search criteria, you need to decide exactly what you are looking for in a property. We would recommend however, that you are open minded to the fact that every specification you wish for in your dream home may not be out there ready made for you. You may find when you start your property search that you find something you originally did not require, equally you may decide that the garage you wanted can be added at a later date.
You also need to discuss funding your purchase, whether you are looking to purchase using cash, mortgage or the proceeds from the sale of a property you need to assess your financial situation and decide a budget for your next move. There are specialists in this industry, to help you discuss your options and choose what is best for you - do not be afraid to seek further advice.
If you are a mortgage purchaser and would like further advise we have an independent mortgage advisor you can speak to, give our office a call today on 01964 533 343 and ask to be referred to our mortgage advisor. For more information please visit our 'Mortgages' page.
2. Finding the Right Property
Now you are prepared for your purchase, you know your budget and you have and strong idea of what you are looking for in dream property. The next step is to start your property search, there are many ways to find properties. You can still find properties in your local newspaper a more traditional method of advertising properties or you could start your search online through agents websites directly or through the many property portal like Rightmove, Zoopla or OnTheMarket!
Take your first step in your search for your dream home today, click here to view our available properties!
Why not register with our office, we will then save you time in your property search. Complete our online registration form here and we will contact you directly to let you know when a property that matches your criteria becomes available!
If you would prefer to speak to a member of our friendly team give our office a call on 01964 533 343, we look forward to hearing from you.
3. Viewings
When you find a property that catches your eye, we recommend arranging a viewing appointment as soon as possible to avoid disappointment. The last thing we would want to happen is for you to find your dream home but, to miss out because someone else beat you to it.
We recommend that you consider any questions you may have prior to the appointment and write them down; we aim for one of our friendly team to accompany all viewings wherever possible. We are there to help you and we will endeavour to answer any of your questions. If we cannot answer your questions there and then we will find out for you.
Another thing to consider is taking a camera or a smart phone to the appointment with you, it is becoming ever more popular for viewers to take additional photographs at the appointment (with the owner’s consent) to refer back to or to show extended family.
4. Making an Offer
Often buying a property is the biggest purchase you will ever make; you have now found the property that ticks all the boxes and are ready to make your offer. We are here to negotiate the sale on behalf of both yourself as the purchase and the owner of the property, to help achieve the desired sale/ purchase by all parties involved.
All offers submitted will be financially verified and full identification and money laundering checks will be completed as a matter of course. You will be required to provide proof of funding, whether that be proof of cash funding, an 'Agreement in Principle' or confirmation of chain details from you agent on your property sale. Providing proof of funding will best help the owner of the property understand your position and ability to proceed forward with the purchase and the offer is more likely to be acceptable.
You have had your offer accepted and all required documentation has been provided to the estate agent, we are proceeding nicely with your property purchase. The next step is to find yourself a Conveyancing Solicitor, again we understand that there are many companies offering this service and they all offer different packages.
It is important that you are confident in your solicitor, they will of course be handling possibly the largest purchase of your life. They will be gathering information from a range of different sources to ensure that you are best informed throughout your purchase.
Do not worry, we are still here to help and we can of course help you with your search for an honest, trustworthy and most importantly competent Conveyancing Solicitor. As a long-standing local agent, we have built up a good working relationship with a number of local solicitors and we are here to guide you throughout the processes.
6. Conveyancing
Once you have chosen and instructed your solicitor, the conveyancing process has started.
The role of your solicitor is to ensure the conveyancing processes runs smoothly; they will handle the transfer of the property from the current owner to yourself. This is a key part of the processes and can be the most confusing and stressful part of the transaction. There are a number of legal procedures to follow and documents to complete however, with a dedicated conveyancer on your side you have nothing to fear.
Your solicitor will raise any enquiries you may have or that may prove necessary following the receipt of the draft contract from the vendor's solicitor, they will carry out local searches on your behalf and agree dates for exchange and completion.
Both your solicitor and the estate agent involve will relay vital information between all parties involved throughout the conveyancing process, ensuring that you stay up to date on the latest developments.
7. Arranging a Survey
We strongly recommend that anyone looking to purchase a property has a survey conducted, after all this is most likely going to be the biggest purchase of your lifetime - this is an extra step that you can take to protect your investment.
There are three types of surveys available -
- A mortgage valuation - if you are looking to fund your purchase with a mortgage then your mortgage provider will arrange a mortgage valuation on your behalf.
- A home buyers report - this is a visual inspection of all aspects of the property which are visible to the eye and should be conducted by a qualified building surveyor.
- A structural survey - this is the most detailed of all available surveys, it is recommended that a full structural survey is conducted of older properties that are more likely to request structure work.
We completely understand that a survey report can be complicated, it is often a lengthy document full of unfamiliar terminology. This is not a problem, give our team a call or visit our office and we can go through the report with you and help you raise any concerns you may have with the owner of the property or your solicitor.
8. Completion
This is the day we have been waiting for, completion day is the final day of the transaction and you will become the proud owner of your new home!
Dependent on the circumstances around your purchase, completion usually happens around midday. You will receive confirmation from your solicitor and your estate agent that the purchase has been completed and that the keys will be released. Where possible will always make arrangements for the transfer of keys in advance of the completion day to help the day go smoothly. Often the keys are either collected from our office or personally delivered by one of our team.