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Buying Guide

Are you thinking of buying a property? Then before you undertake this important decision, Paris has devised an important guide for would-be buyers before they carry out a purchase.

Firstly, we advise buyers to consider factors that they consider to be important before purchasing a new home. This could be one or all of the following:

 

  • Size and number of bedrooms
  • Spacious kitchen or a separate dining room
  • Big garden
  • Conservatory
  • Time you wish to spend redecorating
  • Parking spaces in your property

 

We also advise buyers to fully inform their agent of their needs and wants in a property. We also feel it is important to find areas that you are willing to compromise to find your ideal property and the properties you do not want.

Location

The location is as important as the house itself. Choosing an area that is suitable for your lifestyle will ensure you stay in your property for years. We advise buyers to research house prices, transport links, amenities and if they have children, the schools before settling on an area. Ask your friends, colleagues, family or one of our letting agents.

How do I get the most out of every viewing?

Research the property thoroughly to ensure you have as much as information as possible. Get photographs, brochures, floor plans and other detailed information to help build a picture of the property. Then arrange a viewing with our agents.

We advise that you pack a camera and measuring tape for all viewings. This will allow you to take pictures and help jog your memory about things you liked/disliked in the property. We advise that you ask permission before taking pictures. By using the tape measure, you will be able to measure the rooms in accordance to the furniture you own.

Negotiating and making an offer

Once you have found your ideal property, the next logical step will be to make an offer for the property. You will have to ensure that your bid is done in accordance to the right price level for you and your finances. We also advise buyers to know what would be their maximum limit from the very start of buying a house and stick to this.  If the property seller refuses to budge from their set price, we advise that you think very carefully about the added costs and the effect this will have on your long term finances. If the property needs repairs or maintenance work, we advise you to use this during the bidding process and lower the actual bid.

Buyers who are buying for the first time and those with pre-arranged mortgages will have a head start on the competition. This will enable you to have a great advantage in the process, and we advise that you make the agent aware of such details.

After you have purchased a home, inform the seller that it will be subject to a contract and a survey. If buying from a developer, you could see if they will do a part exchange on your existing property.

What happens once my offer is accepted?

After your seller has accepted your offer, inform them that you would like the property taken off the market which will shut out potential buyers. Avoid delays in getting surveys, and legal legwork completed. We advise that you have your lender’s application form and the relevant documents completed (ID, income slips, address proof, and bank statements).

Your lender will arrange a valuation on your property. For those lucky enough not to require a mortgage, we advise that you still have a survey carried out on the property. This will enable you to fully gauge the repairs and maintenance work required on the property whatever the age.

Conveyancing and its legal aspects

This is the name for the process in which legal ownership of property or land from one person to another person. The whole process can take up an upwardly process up to 12 weeks. To help buyers understand what a conveyance does, we have devised a quick guide of their responsibilities:

 

  • They will gather responses on questions posed by the buyer such as who owns which boundaries, which fittings and furniture are included, etc.
  • Check if the seller is the actual owner of the property and have a Report on Title prepared
  • Check property guarantees, planning permissions and building regulation certificates
  • Check local authority searches and plans for the local immediate area
  • Have stamp duty payment on the property
  • Ensure registration of title is in your name

 

How to select a conveyancer

 

  • Do thorough research and have at least two quotes from different Conveyancing firms before searching for a property. Ask friends, family colleagues or our agents for recommendations.
  • Inform the conveyancer any questions that you wish to be answered in advance
  • Inform the conveyancer exactly how you wish contracts to be completed and that you will require regular updates on the progress of the deal
  • Negotiate a no-sale no fee deal, so you do not have to pay for their services
  • Compare quotes very carefully and decide if you want an environmental search conducted for details like flood risk, radon levels and presence of mines

 

How can you help the Conveyancing process?

Provide the conveyancer with basic information such as your mortgage lender details, seller’s details, ID and your specific questions for the property

Complete mortgage application forms in good time and respond to all solicitor queries as soon as possible; we advise using registered post/delivering by hand to save time

Check all seller’s responses carefully and ask your conveyancer if you do not understand anything

The next step

Once the contracts have been exchanged, this is the last stage in England and Wales, which you will not be able to pull out of without losing your deposit and the subsequent legal costs.

Before contracts are exchanged, a deposit may be required, and if you pull out after this stage, you are liable to lose your deposit and could face legal action from the seller. We advise you have Building’s insurance cover from this point onwards and as a buyer consider life insurance.

After contracts have been exchanged, a date for completion will be set two weeks after this, and you will have enough time to move into your new home.

Your conveyancer will inform you by telephone once your money has arrived in the seller’s account and after this will allow you to get the keys and move into the new property. A completion will then be sent by the conveyancer and read this carefully as it should reflect the original quotation.

Moving into your new property

  • Every move is stressful, but there are steps to take to ensure your move goes smoothly and has minimal stress. We have devised a little list of tips below:
  • Use a good removal firm and seek recommendations from friends, family or colleagues
  • Choose a removals firm that is associated with the British Association of Removers
  • Spread out moving in days so that everything is not moved in one day
  • Following the above tip will allow you to clean effectively and do decorating before belongings arrive
  • Avoid Mondays/Fridays as they are the busiest days on the road
  • Packaging your belongings in strong boxes and wrapping will save time and money
  • Scout the market for the best value utility in advance and read the meters soon as you move in and out of a property
  • Redirect post in advance
  • Download manufacturer guidelines for any appliances left behind for instruction manuals