What steps do you need to take now that you are thinking of buying a property?
Step One: What are you looking for?
Decide what type of properties interest you and in which location..
Think about your budget - what are willing to compromise or not on as the case may be if your desired property is not within your budget?
How many bedrooms do you need? Do you need a garage or off street parking?
When do you need to move? A property that has 'no chain' for a quicker sale process may be important to you, or you may be prepared to wait longer for long for your perfect property.
The important thing to remember is to decide what works for you. Buying a property is a huge investment, and so it must be right for you!
Step Two: Finances
Once you have decided on the basics, it is important to have your finances all worked out to move forward with choosing a property you wish to purchase. You do not want your perfect property to fall through your fingers, because you have left this until the last minute! Midcornwall have an independent financial and mortgage advisor that we recommend, if you would like some help and advice.
Step Three: Looking Around
Now you have decided on the basics, and worked out your finances, it's time to start searching around for your ideal property! Keep an eye on our website for all the latest available properties. Register with the My Midcornwall section of the website to receive emails when new properties matching your criteria become available. Alternatively keep popping into our office or phoning the sales team to see what is on our books.
If you find a property you wish to view, get in contact with us at your earliest convenience to arrange a viewing.
Step Four: The One!
When you've found the property for you, and want to make an offer, we will need to ask you additional questions for the seller to make an informed decision on whether to accept the offer, or not, you wish to make. These will include
- Do you have a property to sell? Have you a buyer for your property? Are you in a chain? Are you a first-time buyer?
- Is it a cash purchase or are you getting a mortgage? Are you able to prove that you can afford the property? (Either proof of bank statements or proof of acceptance from the mortgage company)
- When are you thinking you would you like to move by?
- Do you require the carpets, curtains or any other items you have seen previously in the property?
If the seller accepts your offer then we will confirm to you in writing the acceptance with the terms and conditions still to be negotiated.
Step Five: Sale Agreed
Once your offer has been accepted, it is then necessary to instruct a solicitor. If you are unsure who to use, Midcornwall can recommend one for your area. Just contact us.
The solicitor will ensure that the property is legally transferred from its current owners to you. This process is known as conveyance.
Step Six: Finalise your mortgage
It is usually necessary for your mortgage lender to conduct a mortgage valuation at the property you are hoping to purchase. This is to ensure that the property is worth the amount of money you are looking to borrow.
After the valuation, and the mortgage company are happy with the results, you will be sent a mortgage offer, with further details and terms for you and your solicitor.
Midcornwall, as your agents will be the main point of contact throughout all the stages, between all the parties involved, until the final contracts are 'exchanged' and then finally 'completed.'
Step Seven: It's Yours!
The solicitor has completed all of the legalities, the monies have been transferred to the seller, and now it's time for you to pick up the keys to your new property! We will arrange a time convenient for you to come into the office.
If you require any further information on any aspect of the buying process then contact us. We will be happy to help!