Planning is key for success in buying the right property in London
Buying a new property can be exciting but it also needs careful preparation. Ideally, you should have an idea of how much money you can actually spend and what kind of a property you are looking for.
First step in getting a new property is to establish your maximum budget and make sure your funding is in place. If you need to consider getting a mortgage we advise you employ an impartial mortgage advisor who will help you analyse the mortgage market opportunities. If purchasing is dependent on the sale of another property you might need to start marketing your current home.
Second step is to start viewing properties. This will help you get the feel of the neighbourhood and help you crystallise your requirements.
TIPS (before making a decision consider doing the following):
- See the property several times during different times of a day
- Take your family and friends for a viewing – they might give you a fresh perspective and help you choose what works best for you
- Have a walk in the area and see what impression it gives you – do you feel safe/comfortable/does the neighbourhood seem friendly?
In searching for the right property you might want to begin with our website where every property has an extensive description accompanied by imagery, floor plans and location maps. Once you have found something that you feel could be the right choice for you – let us know and we will get in touch with the vendor immediately. You might also talk to us directly about your ideal home and we will be happy to give you some suggestions and arrange everything for you!
When you have found the right property and would like to make an offer you should contact us without delay – the London market moves quickly and often there is more than one potential buyer. We will then confirm the offer in writing to both parties (the offer will be subject to a contract being signed and there are no legal obligations on either side until this is done). If there is more than one buyer you might be asked to participate in a sealed bid.
Once your offer has been accepted the vendor’s conveyancer will prepare the contract in order to transfer the ownership of the property to you. Your conveyancer will then examine it and raise any queries based on the title deeds and related property matters. When both parties agree on the contract terms they will exchange the signed documents and you will transfer your deposit. The process will conclude on an agreed date –your solicitor will then hand over the remainder of the purchase money to the vendor's solicitor and you will receive the legal title and the keys.