Buying Process

Congratulations. You’re looking to buy. Pick up all the tips and inside info here. Buying a property is a very exciting journey. At M & L Estates we’re here to help make that process run as smoothly as possible. Here are our top tips to hand hold you through the various stages.


1Pick an area

Do your homework on the area you want to live in. Plan a visit in the daytime and during night hours so you get a real feel for the neighborhood. It’s important to check transport links and distances to schools, local amenities, green spaces, shops and restaurants. Click here for area guide.

2Pick your type of property

Think about what you want and need from a property. New build or period, flat or house?  Work out how many bedrooms, bathrooms you need. Is outside space, or the size of kitchen important? Make a detailed list and keep it as a guide before deciding whether to view a property. You’ll save a lot of time by being decisive.

Star Tip:  Look at how much storage space there is. So many people forget that they need extra space to put extra bedding, ironing board, a mop, suitcases, golf clubs, and high chairs, even a musical instrument!

3Work out your budget

Set your budget at a realistic level. Can you afford a deposit? Once you have a figure in mind its time to arrange a mortgage. Either go online or directly to a lender or get a financial adviser to arrange your finances for you. Having a mortgage lined up puts you at a huge advantage as it enables you to move quickly. Mortgage Lenders

4Make an offer

Once you’ve found a home you’re interested in you should make a realistic offer to us that you can afford. There’s no point going over and above your means, as you will only regret it later. Don’t forget to factor in stamp duty and solicitors fees. Once the buyer has accepted your offer you should instruct a solicitor to kick off the process.

5Once your offer is accepted

Once your offer has been accepted then there’s roughly a 6-8 week countdown until contracts are exchanged. This is where the solicitor starts the conveyance process. We will liaise between your solicitor and the buyer’s solicitor to ensure that your purchase goes through as painlessly as possible.

6Book a survey

Your lender will need you to book a survey before they can offer you a mortgage. This is to protect them and you.
Although there are different types of surveys, a full structural survey is the most thorough option especially when it comes to a period property as it highlights any potential problem.

7Exchanging contracts

Up till this point either party can withdraw from the sale without incurring any losses, but once contracts are exchanged both buyer and seller are legally committed to the deal. If the buyer pulls out he will lose his deposit.
Your solicitor will need: -
* Replies to all their searches and enquiries
* A copy of a mortgage offer
* A signed contract
* The paid deposit so then they can proceed to exchange contracts
* From this point the seller and buyer are legally committed to the deal so if the buyer pulls out for whatever reason they lose their deposit.
Both you and the vendor sign the sales contract and the deposit is transferred and paid by your solicitor to the vendor’s solicitor. At that point the date is then set for completion.

8Moving Day Must Do’s

*Book a removal firm
*Redirect post
*Inform all your utility companies and give up to date meter readings
*Notify people of your new address.

Property Valuations

A lot of expertise goes into valuing a property. We have an extensive database of properties in the area backed up with statistics and price comparisons. We offer a free, no obligation valuation service and advise you on an achievable asking price based on sound local knowledge..

Smart Marketing

Technology gives you a wider and more complex range of marketing tools to advertise and search for the right property. Things move fast in property, which is why we ensure that our photos are processed and uploaded to key websites within 2 hours of being photographed. We use Rightmove, Zoopla, Twitter, Instagram and Facebook as well as running features in the Evening standard, Time Out and local papers.

Financial Advice

Getting the right financial advice is crucial when it comes to buying a property whether you’re letting,_ buying or selling. We have a range of tried and tested financial advisors as well as huge expertise on lenders and what they offer

Assistance

We know that acquiring a property can be daunting especially if it is your first purchase or you are buying with someone else. We are familiar with the latest help to buy schemes. See our mortgage table below to work out what you can afford. Click here.

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