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Three Top Property Buying Tips

February 2020

What are the three best tips when buying a property? This discussion will help guide you along the right lines, to ensure you buy from a position of strength and aims to dispel some common myths!

Three Top Property Buying Tips

Full transcript below:

Alex: When you’re looking to buy there are three key top tips to get right every time. Firstly, you need to get yourself into the best possible position. I know people often think they know what this means but ideally this actually means you’re in rented accommodation. Being under offer is still considered relatively risky by the estate agents as there’s an additional chain involved which they don’t have much control over. Going into rented when you sell means you are chain free for this part of the transaction. When you go on to buy it means that you are purchasing from a position of strength and this is seen as very low risk. Overall, it also takes the stress completely out of your sale and purchase. Appreciate look, I know it’s two moves but honestly it really is well worth it. The other point when buying is to have your mortgage lined up. Due to the current financial regulations getting mortgages through takes so much longer and to prove that your part way down the line and more reliable than most, go through your lender and get what’s called an agreement in principal or a decision in principal lined up. This is effectively just a signed paper saying that your lender is going to give you a mortgage for such and such amount subject to a couple of conditions. To get this will mean a bit of work for you and your lender but it really does show good intent from your part when your buying. The third and final point is to have your solicitor instructed and ready to go, and this means getting them to open a file for you, sign off client identification checks and possibly have some minor funds on account to get the searches undertaken ASAP. You really would be amazed how long these couple of points can take, so it’s best as I see it to get underway when you’ve got time on your side and you’re not under intense pressure from the seller, estate agents and their solicitor pushing you for answers on other matters. If you need to talk these points through further, you only need drop me a line.

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