What Do I Do If I Want To Buy A House I See?
If you have seen a house online, from a board or in the newspaper that interests you then these steps will help you know how to go about it.
Step 1: Contact the agent selling the property: Major website portals have a contact agent button or a request further details button. This will send the agent a direct email with your details on for them to contact you to arrange times and dates. To be really old school , call the agents phone number listed. The agent should ask your basic details aswell as your position ( ie house to sell, first time buyer or in rented accommodation ) Email is a great thing to give them for future updates. Alot will also ask how you intend to purchase the property ie cash or mortgage.
Step 2: Once you have arranged the time to see it with the agent you could either meet the agent there or the owner maybe doing the honours of showing you around the property. Either way do feel free to ask any questions you may have such as Council Tax , What fences they are responsible for or utility bill costs. These should be easy to find out if vendor is present especially.
Step 3: After you have seen the property speaking with the agent would be the next step if you are interested in making an offer. If there is interest or you suspect there will be , getting this conversation going with the agent outside the house will be the perfect time. Asking the agent about level of offer is never a bad thing and most will give you an honest answer ( They are there to sell the property after all ) What to offer is always a big question we get asked, now speaking with the agent will give you an idea if an offer is likely to be considered or get him or her kicked out the door. There are many factors that will determine what to offer, such as market conditions and length of time on the market ( See our other blog about How Much Do I Offer On a House )
Step 4: Once the offer has been made to the agent they will speak to the vendor on your behalf. At this stage it usual that they will ask more detailed questions on your position and finances, so having your AIP ( Agreement in Principle ) or broker details available at this point is wise. They may well need you to speak to their advisors to get first hand confirmation all could proceed. NOTE: Unless the owner insists ( Confirmed in writing to the agent ) you use their broker or solicitor the agent must still put forward your offer within reasonable time and can not make you use their broker or solicitor in order for the offer to be submitted or have preference. Speaking to them doesnt commit you to use them .
Step 5: After agreeing a figure it’s time to get ‘your ducks in a row’ You will need to have a conveyance/ solicitor to handle the transaction for you. Agents can recommend the ones they like and get on well with aswell as mortgage brokers have contacts. Getting service is alot more important than it being cheaper. There isn’t massive amount to choice between them costs wise but it can cost you the house of your dreams picking a bad one. If you are having a mortgage then booking in to complete the application for the property will need doing. This will start the process of getting your official mortgage offer after the bank has organised the surveyor to go round and your checks are finalised.
Step 6: Once you have conveyance / solicitor sorted the agent will send you Sales Memorandum. This confirms all details of the sale with the otherside and all parties receive this to start the ball rolling and process of purchasing the property ( See What Happens When Buying / Selling A Property )