The Buying Process
With over 20 years experience in Lettings and Sales we have quickly gained a reputation as one of the most professional and innovative estate agents in London. We provide a personal and dynamic service only employing the highest quality staff ensuring an efficient service to all our clients.
Here are a few points to consider before buying a property. We hope that it helps but please feel free to give us a call with any questions.
What are the steps involved in buying property?
- Speak with an IFA to secure a mortgage (Ensure they are whole of market)
- Find a property
- Appoint a Solicitor (conveyancing)
- The mortgage company will carry out their valuation on the property
- You instruct a surveyor to do a home buyers report or full survey (you decide)
- The Vendor’s Solicitor supplies draft contract, title deeds on the property to your Solicitor
- Your solicitor will check the HIP and raise any enquiries with the vendors solicitor
- Once your solicitor is satisfied you proceed to sign contracts and agree a completion date
- You provide the Vendor with the deposit via your Solicitor
- Signed contracts are sent to you from the Vendor via your Solicitor
- Contracts are exchanged and you arrange buildings and contents insurance
- Completion takes place on agreed date
- Your solicitor pays remainder of purchase price to Vendor’s solicitor
- The Vendor’s solicitor confirms completion of sale and arranges for keys to be handed over
What house buying costs do I need to consider?
When you buy a property you will typically incur these costs:
- Solicitor’s fees (including stamp duty, local authority searches)
- Part payments on council tax, ground rents, service charges
- Purchase deposit (typically 10-25% of purchase price)
- Property insurance and house contents insurance
- Mortgage (including indemnity premium and fees – often added to the loan)
- Surveyor’s fees
- Removal firm
- Services (any utilities that need to be reconnected, mail redirection)
- Life assurance and mortgage insurance (if relevant to your requirements)