Buying a Property
The first stage in buying a property is establishing your budget. For most people the budget will mean a deposit and a mortgage. The budget should allow for the purchase price, legal fees, stamp duty if applicable and moving fees if you are using a removal company.
Once you have an idea of your budget then the search can begin; location is usually the primary consideration. However, it may be helpful to write an 'essentials list', a 'wish list' and a 'deal breaker list' to keep you focussed on finding the right property and not getting sidetracked by something unsuitable.
Register with local agents in the area you are interested in. Payne & Co specialises in homes in Oxted and the surrounding area but if you are looking for property in a slightly wider area visit www.connect4property.com or nationally Home Sale Network.
Once you find a suitable property contact the estate agent handling the sale to arrange a viewing.
If you like the property you may decide to make an offer which you do via the estate agent who then discusses it with the vendor. The vendor may accept your offer straight away or there may be some negotiation.
Once your offer has been accepted you will need to organise your finance (if you are taking out a mortgage this may require a building society survey of the property) and appoint a solicitor.
A draft contract will be supplied to your solicitor and, once any issues arising from this have been resolved, a completion date (a date when the sale will be completed and full ownership will pass to the buyer) will be agreed between you and the vendor.
Contracts are then exchanged and you will be required to place a deposit on the property. This is generally 10% of the agreed price and is non-refundable if you withdraw from the contract.
On the date completion takes place the balance of the price is transferred between solicitors, you collect the keys and take possession of the property.
Your solicitor organises payment to the Inland Revenue if stamp duty is applicable.
If you would like to register to receive details of properties for sale please complete our registration form or contact our office; we look forward to hearing from you.