Previously I discussed tips on how to sell your home quickly for the best possible price but what if you’re in the other boat? How do you ensure you have the best chance of securing a home in the current market?
Firstly you have to be organised; it’s quite likely that the first thing you’ll have to do is to visit your bank manager and secure a mortgage. This is where organisation is key and holds up many mortgage applications. You’ll need to bring government identification (a passport or driving licence) and proof of address. You’ll need to have your finances in order and ready to be presented, bring; your latest P60, the last four or five payslips, details of any savings or loans, a full breakdown of your current account (ideally showing regular rent payments) and sometimes a letter of reference from your current employer is a bonus. Hopefully at this point your receive ‘approval in principle’, house hunting before you have this in place is generally is a fruitless exercise.
Now you know your budget and have approval in principle you can get out there are see what’s available. However it’s best to be extra organised at this point too. Think ahead and act like you’ve already found the perfect home within your budget. What will you need next; well, you’ll need a solicitor to represent you and a surveyor to check the home. Just because in reality you haven’t found your perfect home quite yet doesn’t mean you can’t go about securing the services of a good solicitor and surveyor. Like every service it pays to shop around and ask advice from friends, colleagues and others in the business to get the best insight into who will do the best, quickest and most economical job for you. I’ve seen property sales on similar homes take anything from 4 weeks to 6 months based upon the types of solicitor and buyer involved.
So now you have everything ready to go one of two things will be happening, you’ll see the perfect house on the market or at this moment in time the right house won’t be available for sale. Either way at you should talk to a trusted local auctioneer. Advise them you are in the market and discuss the properties they have now (or coming available in the future). It’s a very good idea to let them know how organised and ready you are to buy as it makes you stand out in the crowd and will have them working hard on your behalf to either find you the right property or suggest you as a good purchaser to a vendor when there’s plenty of interest in a home. When there’s a large amount of interest in a property and not a huge difference in bids the quality of purchaser can make a huge difference in the vendor taking one offer or another.
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DigiPerson on Tuesday, June 7, 2016 in buying a home in waterford, current market value, mortgage repayments, organisation when buying a home, property investment, Property News and Advice, Property Value, waterford property prices