Need to Know: The process of Buying a Property

I’m always on the hunt for relevant info and I loved this - one of the best articles I’ve seen on this topic for a while. Here are a few paragraphs as a taster... 

So you’ve looked everywhere to find the right place, found a potential property that suits your needs, and you are looking to put an offer to the seller. But you’re still scratching your head about how the buying process will work.

Here’s a brief rundown of what to expect in a smooth and straightforward purchase.

Pre-Contract

Before signing the contract you should obtain advice from a solicitor, as well as any other expert you require (ie. a financial adviser). This is because pre-contract is the best time for you and your solicitor to review the purchase, including:

• Carrying out investigations, including searches, into the property to ensure that it is appropriate for your needs. This is also to ensure there are no issues with the property that could later bite you (ie. issues that may restrict the intended use, or impact on the value of the property);
• Discussing and negotiating the aspects of the contract (ie. price, deposit, settlement date);
• Discussing and negotiating any special conditions you may require in the contract (ie. a condition for the seller to undertake work on the property prior to settlement);
• Obtaining advice regarding the contract, and particularly any rights or liabilities you have under the contract.

Pretty valuable stuff, I’m sure you’ll agree! Why not check out the whole article here and share your thoughts with me afterwards: call (0295) 686 266 or email me at [email protected].

Thanks,

Alex