First Time Buyers
Before viewing properties, speak to an independent Mortgage Advisor,
who will let you knowwhat you can borrow and therefore your budget.
From this you
will know which properties to view. Although some
vendors may accept a lower offer
not all will, so be honest with
Estate Agents as to your budget, it will save you
time in the long run.
If your budget is tight, consider buying with a friend or contact
the
local authority to enquire about shared ownership schemes in the area.
Finding
a Property
The internet is a great tool for searching for properties but register
with agents as well. You may not be able to log on until the evening
to see that
New Instruction, but if you register you could be one of
the first to know, either
by phone, email or text.
Viewing
View as soon as possible and try and be flexible.
If you are buying
with someone else nominate one person to "do the weeding out"
viewings.
Don't be afraid to revisit properties and always provide
feedback. If you have sold
a property yourself you will know how
frustrating it is not to get any feedback.
Keep in regular contact
with agents and build a rappor.
Offers
Everyone wants a bargain,
that's natural so it's always tempting to
make a low offer, but if you think you
have found your ideal property
and don't want to lose it, offer sensibly. The closer
you are to the
asking price the less likely to be gazumped. If you're offer is
accepted
always check that the property will be marketed as under
offer or Sold STC.
Gazumping
This
is when someone else comes in with a higher offer than the one
already accepted.
Unfortuantely Estate Agents are powerless to stop
this as we legally have to put
forward every offer we receive. But you
can help prevent it from happening by being
sensible with your offer,
by being flexible - be prepared to work to their timescale
not yours,
by building a rappor with the vendor via the agent, this will mean
that
they are more likely to be loyal to you.
Chains
Chains can fall through for a variety
of reasons, including finances
not being in order and nasty surprises arising from
surveys.But to
reduce the risk of it happening to you, keep in contact with your
Estate Agent and Conveyancer regularly and respond to enquiries as
quickly as possible.
Try and be as flexible as possible and where
possible be prepared to break the chain
by moving in with
family/friends or taking a short term rental.