Although deciding on making a new move is not easy, here are three things to consider mortgage and insurance costs, stamp duty and land tax charges, and the upfront costs if any. Also, you will find it very helpful if you have a mortgage and put in place your finances before you begin searching. We have reliable mortgage brokers who access exclusive rates and deals and the whole market as well. They can help you come up with the best possible mortgage.
When you begin searching for a property for sale in east London, you can register with major property portals or Home Wide which allows you to get property alerts in your preferred location and within your specified price range. This eliminates the chances of you missing to book a viewing. You should get in touch with the branch that is marketing your property to register you as soon as possible to prevent having a missed request. Avoid any delay even if by milliseconds as that could result in your losing a purchase.
Viewing & offer
Because you do not know when you will make the biggest purchase ever, you have to ensure that you don’t miss the opportunity to make an offer. Before viewing, you could drive by to see what social amenities there are in the area. You can do this more than once if you can and think about how you will feel living in that environment.
Having found a property that you are interested in, you can go ahead and make an offer after carefully thinking it through especially if it is your first offer. Find out the position of the seller before making an offer because sometimes if the property has been on the market for a while, the seller may be willing to take a lower offer. Conversely, if the property has not been on the market for long, the seller may be willing to wait for a higher price. Striking a balance is very integral to getting the best purchase possible.
Accepting an Offer
The fact that you have made an offer and it has been accepted by the seller does not mean the purchase is complete. An offer is deemed accepted when you are given a notification of sale by your agent. Being aware of the transaction, your chosen solicitor will then give out some forms to be filled and the process of funds transfer begins.
At this point, you should let your broker or mortgage company know that you have found a property. After that, you will be required to fill important forms and provide the funds for a surveyor to conduct a valuation and survey exercise.
You need to have an experienced and efficient solicitor to have a hitch-free purchase. All legal aspects of the conveyancing and completing important checks like local and land authority searches. The solicitor is responsible for establishing the property’s boundary any potential local development or restrictive covenants that will hinder your comfort in your new home.
Home Wide has highly experienced and reliable consultants that are ever ready to help speed up the transaction process, thereby saving you all the hassles involved.
A surveyor will be booked to come and survey the property on behalf of the mortgage lender usually to pinpoint any problem with the structure that may affect the property’s value. After receiving the mortgage valuation report, a mortgage offer will be formally sent to you and your solicitor and you are required to sign it before returning it.
Exchange of contracts
Upon agreeing and confirming all inquiries, the exchange of contracts is then done and after signing by both parties, a deposit of 10 per cent of the buying price will be made to the seller’s solicitor by the buyer’s solicitor in the form of a bank draft. After that, a date is mutually agreed upon for completion. The terms of purchase are then finalized which then makes the transaction legally binding on both buyer and seller.
On the day of completion, all monies are transferred to the seller’s solicitor through the online banking system. As soon as we receive a confirmation of completion of the transaction, the property officially becomes yours as the buyer and arrangements are concluded on handing the keys over to you.