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Be prepared before you offer to buy

 

When you are looking to buy a home, there is so much to take care of that it can be overwhelming. The sums of money involved and the importance of the deal are of such a great magnitude that it makes sense to be fully prepared before you offer to buy. No matter what your personal nature is like or how you approach most tasks in real life, buying a home is the one time where you really need to be as prepared as you can.

Have your mortgage decision in principle in place or be cash ready

You want the selling party to know that you are serious to buy and that you can move quickly if required. When there are a number of buyers keen to find a particular property, there is often a choice for the seller to make and the nature and intent shown by a buyer will often be a factor that helps them to choose the right person to sell to.

Having a mortgage decision in principle in place is a smart move because it gives you confidence in what you can afford to buy, it shows that you have taken proper steps to arrange your finances and it shows that you are committed to buying a home. These are all important assets to have, both for your own peace of mind and in convincing others that you are the right option for them.

If you are buying the property with cash, be ready to show that you have access to these funds and that you can transfer the money when required.

Instruct your solicitor

The right solicitor can have a huge impact on a property purchase and you want to instruct your solicitor as early on in the process as possible. There is actually a lot of work for a solicitor to do in arranging a property deal so the sooner you have a professional on board, the sooner the process can get underway.

Yes, the longer that you have a solicitor working for you, the greater their overall fee is likely to be but this is one area where laying out money can bring about a better outcome so make sure that you have the best possible solicitor on hand for the work and make sure that they are fully instructed to undertake the work that you need.

Have a timescale in mind

While every property deal is different and there may be issues that delay a buying process, you should have a rough estimate of the timeline for the work to be carried out. This is an area that your solicitor will be able to help with, and the two of you can plan ahead.

With so many legal documents and agreements to take care of, knowing what comes next and planning to take care of the work is crucial, so it helps to have a timeline in mind. There is also the fact that many external parties have to be informed of your progress or enlisted to carry out certain work, so you will find it easier to hire professionals when you have a timescale in mind.

Buying a home can be stressful but by being fully prepared, you will find that your chances of concluding the deal quickly and as effortlessly as possible increases.

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