Buying

The internet will be able to provide resources on the local area, including the nearest schools and amenities. Any local estate agent can also help, as they will be experts in the local area and able to give you a more detailed summary of the region.

Consider what you definitely need in your new house. For instance, number of bedrooms or whether you need off-road parking. You can then begin to narrow down your search, according to your ‘must-haves’. Other things to consider include proximity to amenities, local schools, transport links and how well the area is served by broadband.

You can speak with your estate agent, as they will be the expert in local property prices. They will look at all the individual aspects of the property, as well as compare recently sold and on-market prices.

A property portal is a website that sells houses. Each portal brings with it its own positives and negatives. Rightmove has the widest choice of properties, but does not help with the transaction. You can use Rochills property search to find your new home, as well as access a wide range of other move services to help you.

Although this isn’t a necessity, it would be useful to know the value of your existing property before you start viewing. This will give an indication of what you can afford and will signal your intent to the estate agent. Being in a strong buying position, with your homework done, will indicate to the agent that you are a ‘hot’ buyer.

This is not essential before the viewing, as you need to know the value of your next house before you can agree on the mortgage. It is advisable to speak with a financial advisor, who will be able to give an initial idea about what you can afford.

If you do want to get a mortgage agreement before viewing houses you can get an agreement in principle which will give you the highest and lowest amount you can borrow and will once again the seller you are a serious buyer.

The only thing you need to take is a bank of questions. Think before the viewing about all the things you need to know about the house, and find out the answers from the seller.

In the majority of cases the estate agent will accompany you on the viewing. Feel free to ask them as many questions as possible, so you get a feel for the property.

By all means you can make an offer. However, we would advise that you take the time to consider your options so you don’t make any hasty decisions. Take the time to speak with the estate agent who is selling the property, as they will give you an idea on asking price and the motivation behind the sale – as the motivation of the seller may help you to get a better price.

Your solicitor will be responsible for transferring your payment from the mortgage lender to the seller. Speak with your lender and solicitor to arrange the payment, which should reach the seller on the moving in day.

You will need to decide whether this lower sale price affects your purchase, and whether you can still afford to move. Speak with your estate agent about the cause of the lower value, as it may be down to increased competition in the local market or a general downturn in house prices. This will be your decision and you should consider all your options before you think about withdrawing from the transaction.

The severity of the problem found will dictate your next move. If it is a minor, and easily repaired problem, then you should go ahead with your purchase. If the problem is more major then you may wish to reconsider or renegotiate your agreement. The surveyor should be able to tell you how much the repair should cost and you should liaise with your estate agent once you have the proposed cost.

The seller will make a decision on whether your offer is suitable or not. They may feel that your offer is not high enough, or that they prefer an offer from a more suitable buyer (e.g. cash buyer). You should be able to negotiate the offer still, so speak with the estate agent about your options.

This depends on how low you originally bid. The seller will be looking to achieve the highest price, or the one closest to their asking price. The estate agent will have a better idea on the price that the sellers will accept.

You should have time to negotiate your offer, but it will depend on whether anyone else is bidding for the property. You should be able to find this out from the agent selling the property.

If the seller pulls out after the exchange of contracts, they are in breach of that contract. This means that you are able to sue them or force the deal through. You can either go down this route or claim your deposit back and walk away.

As this will be an emotionally charged time we recommend that all negotiation and contact is made through either the estate agent or the solicitor. If they are in breach of contract then you will need to discuss your options with the solicitor.

If you have exchanged contracts then you are legally obliged to proceed with the purchase. If you are waiting on your existing sale and are unable to complete on the agreed date then the seller is likely to cancel the deal and retain your deposit. If this is before the exchange then the seller will wait depending on their other alternatives, e.g. if there is a rival buyer who has the required funds.

You could consider lowering the price to generate more interest and offers. Alternatively, think about going with a cash buyer, as they will not be relying on any property sales to go through before they can afford your property.

There are a  number of companies out there that offer to buy houses for cash. Unfortunately, not many of these businesses are reputable and we strongly advise that you speak with your solicitor and financial advisor before taking this route.

Exchange of contracts is the point at which you are legally bound to buy the house and nobody can back out of the transaction.

At this point your solicitor will have finished all the paperwork and a contract will have been produced ready to sign. Before exchanging contracts you should have carried out all surveys and searches, have a mortgage offer in writing, the deposit ready and set a definite completion date for the sale. This is usually set for two-four weeks.

You should insure the house once you have exchanged contracts. This protects you against any unfortunate eventuality.

It entirely depends on the seller. They are under no obligation to do so, but many do decide to clean or at least leave the house in a tidy state.

You should remain in contact with your solicitor, so they are aware of the completion date. They will then be able to prepare the necessary documentation ahead of this. You, or your solicitor, will then speak to the mortgage company about transferring the funds. This usually goes through the solicitor, who will transfer it to the seller on your behalf.

The selling agent should put the sold subject to contract board up within a few days of the sale being agreed. You will be able to speak with your agent about this. Although the ultimate decision is for the seller to make.

In normal house transactions you will not be able to move in until the completion date. However, you may be able to negotiate with the seller for an earlier moving date if it is absolutely essential to move quickly. The average time from exchange to completion is usually around four weeks.

This is one of the most complex parts of any transaction, as all parts of the chain need to work in conjunction for a smooth move. As you have exchanged you should have already found a seller for your existing property, so speak with the agent marketing your home about a potential completion date. Once you have this you can go to the estate agent of the house you are buying and request a similar completion date. The estate agents involved in the transactions will help you make this happen as seamlessly as possible. It is also advisable to keep your solicitor informed throughout this stage, so they can have the necessary documents prepared.

The main things that you need ahead of the exchange are:

• The drafted contract from your solicitor
• A deposit for the house, usually around 10%
• A mortgage agreement in writing
• All searches/surveys carried out

Once you have all these elements together you will be in the perfect position to exchange on time.

The estate agency fee is normally paid upon completion. This will be paid through your solicitor. The estate agent will have raised an invoice around the time of the exchange of contracts, so you know the exact amount you need to pay.

As soon as you are aware of your completion date then you can contact the Royal Mail and inform them of your impending change of address. The Royal Mail advise that it takes at least five working days to arrange this.

Consult your estate agent, as they will arrange with the seller for a potential move time. The seller will want to receive the money in their bank before allowing you to move in, so there may be some delay while this is processed.

If you have agreed on a completion date then the vendor is legally obliged to move out of the property at this point. They will be in breach of contract if they refuse to exit the property.

You can collect the keys from the estate agent that sold the house. They will arrange and carry out the handover of the keys.