Day in the life of an agent

How to be organised when buying a home

Buying a home can often take longer than you may think! That’s because the home buying process consists of various stages and the length of time involved is often elongated if you have a mortgage or are part of a chain.

Of course, the process all starts with finding the home of your dreams. This leads to making an offer, usually made through the estate agent, which will always be subject to a survey and written contract.

In anticipation of your offer being accepted, speak to a mortgage broker or lender as early as possible to organise your mortgage application. This will involve quickly showing them evidence of your income or cash in your account.

A solicitor is required to conduct a number of searches with the local council to uncover any planning issues. This is important due to the saying ‘buyer beware’. Always take the time to understand any issues you may face later on.

Further checks include a property survey to value the property, which can be completed by your mortgage lender and another survey to determine the condition of the property.

If there are no problems at this stage, contracts can be signed and exchanged with the seller and a deposit on the house of at least 10% will need to be paid to demonstrate your commitment. Bear in mind that this deposit is non-refundable.

The final stage of the process is known as completion, when your new keys are handed over. The timing of when you can move in will depend on several factors, such as giving notice on a rental property or waiting for the current occupiers to move out.

The entire process can take over 6 weeks in total but as long as you act as quickly as you can to help your mortgage lender and solicitor, as well as ensure you have finances organised, you will be moving into that dream home before you know it!

Here’s Redstones overview of the buying process and further information on how we can help during this time, to make the process as quick and stress-free as possible.