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Guide to Buying

Buying a home, particularly for the first time can be daunting. The decisions you make along the way can either help to save – or cost you a lot of money. At Clarendon Hill, we will assist you with finding the perfect home for you and also prevent you from falling into costly traps.

Here is a guide on the selling process filled with tips to assist you on buying your first property.

Understanding the costs

When buying a house, it is important to understand that along with the purchasing price there are also associated costs that you will need to factor in when planning a budget for your new home. Additional costs can include the deposit, valuation fees, mortgage fees, legal fees, stamp duty, electronic transfer fee, broker fees and surveyor’s fees.

Checklist

Once you have an idea of your budget, you can start thinking about where you would like to live in terms of what type of property you can afford. Make a checklist of what are the main priorities that you are looking for when it comes to the property and location. This is a very important decision and you must do the research thoroughly to know what is perfect for you.

Property hunting

The fun part has arrived! Once you have created a budget plan and checklist for your new property, you are ready to start the hunt for your property. It is useful to create a list of as many properties that you would like to view and to keep an open mind when searching. We will also keep in close contact with you and help in finding the perfect property for you.

Viewing

Once you have found the properties you would like to view, you would have to register and put in a request to book a viewing. If it is your first time viewing, this can be quite daunting to make the most of the 15 minutes viewing time. At Clarendon Hill, we make sure to support our clients during this process by attending the bookings with them and making sure that all needs are being met.

Here are a few things you can look out for when going to your first viewing:

  • First impressions: If you have time, you should drive by the property and get a feel of the neighbourhood. This can often be enough to know whether the property is suitable for you.
  • Checklist: Bring along your checklist of what requirements you are looking for and any questions you may have.
  • Check the outside of the property
  • Be thorough: Take your time and check as thoroughly as possible.
  • Ask questions: You should ask as many questions as you want during the viewing time.
  • Be friendly: A good relationship with the vendor can make the sale smoother.

Making an Offer

Once you have found the property you would like to buy, we will put in an offer for you. If you really like the property and it suits your budget, you may choose to meet the offer at the asking price. It’s then time to wait for the seller to decide whether he will accept the offer that we have submitted.

Mortgage

Your offer has been accepted and now it's time to officially begin with the finances. Ideally you would have looked into and sorted out your finances prior to viewing. If you are buying a property through mortgage, you now need to go back to the mortgage company with an agreed offer and complete the process.

Surveyor

Once your mortgage is officially agreed, we advise you to get a survey carried out on your new property as this will inform you of any major issues and the condition of the property. There are several types of surveys, ranging in how thorough you would like your property assessment to be. You would then be sent this assessment and can begin planning out work on the new property.

Agree a completion date

At this stage, you should be ready to set a completion date. This will be the date that you choose to move in.

Exchange Contracts

Once the legal work is finalised and mortgage is in place, it is time to exchange contracts. When you exchange contracts with the seller you become legally committed to buying the property – and they are legally committed to selling the property. This is also the point where you will pay the deposit to the solicitor (usually 10% of the purchase price).

Move in

On completion day, your money is transferred to pay for the property, and you are now officially ready to collect the keys and move into your new home. Congratulations!

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