Buying a home can be a very exciting, but equally, a pretty apprehensive and stressful time.
We have put together a guide to help explain the process, although there is nothing like having a chat with one of our friendly team, so please feel free to talk to us. The key really is to put yourself in the strongest possible position.
Are your finances in order?
An important place to start is by looking at your own finances — any savings, salaries, outgoings, any debt, every bill, every expense – even the money you spend on takeaways, annual holidays, running your car and of course, every penny you put away. It’s time to get the pen, paper and calculator out!
If you require any form of borrowing then the next step is to find out if you’re eligible for a mortgage and how much you are able to borrow. It is sensible to have a mortgage arranged in principle before you start your property search. Should you require some mortgage advice we can put you in touch with a recommended broker.
Have a property to sell?
Before you start the search for your next home, and to save disappointment, it is important to make sure you are in a proceedable position.
If you have a property to sell, it is advisable to secure a purchaser for your own property before viewing properties.
Start by arranging for a carefully selected estate agent to visit your home and provide information on the potential value of your home and advice on improvements to add value prior to selling. We would be delighted to provide this information and visit your home in any of the local areas.
Even if you are out of the area, do have a chat with us as we may be able to put you in contact with another reputable agent in your area with our association with The Guild Of Property Professionals.
Steps to getting you on the market
Arrange a free, no-obligation, market valuation from Park & Bailey. Our dedicated local experts have specialist knowledge in the local market, access to market-leading research and a wealth of marketing strategies and experience.
We will assist you in the entire process of selling your home. From advice on how to present your home ready for marketing, the use of professional photography and floorplans, to launching your property onto the open market, arranging and assisting viewings. Once a buyer has been secured, we have a dedicated Sales Progression Team on hand to chivvy things along, keeping communication flowing with solicitors, brokers, buyers and sellers alike, making the whole process as stress-free as possible.
Find your next home
Whereabouts are you looking to move to? What is it you are looking for? What requirements are an absolute must and what are you willing to compromise?
As you begin, it is wise to do a bit of research, whether it be schools, public transport, golf courses or local amenities. It is very likely that your requirements will alter slightly as your search evolves. It is also good practice to be open minded and always bear in mind that nothing beats actually getting inside a property.
Photos, floorplans and videos are all excellent tools but physically viewing is always worth the effort. We have lost count how many times clients have moved into a property that they initially disregarded and almost didn’t view!
We cover Caterham, Coulsdon, Purley, Warlingham, Sanderstead,Wallington, Woldingham and surrounding areas.
Register with us to receive a selection of properties that instantly match your criteria and keep constantly up-to-date with new properties that come on to the market. We pride ourselves on matching people to property therefore occasionally we secure a buyer before the property appears on Rightmove and Zoopla. It is always worth registering with us.
Making an offer
Once you’ve found a place you love, it’s time to talk to us. First and foremost, let us know what price you would like to offer. We will then talk through your buying position including how you are intending on funding the purchase.
At this stage, it is prudent to have to hand proof of finance, contact details of your agent and any other evidence to support your offer.
Going forward, there may be a process of price negotiation. Our friendly team will work hard to facilitate an agreeable outcome to everyone’s satisfaction.
Selecting a Conveyancer
Shortly after the initial celebration of having your offer accepted, we swiftly move onto the next stage of the buying process. The successful purchase of a property is reliant on the instruction of an efficient and experienced solicitor.
We work closely with a few firms of solicitors which we can put you in contact with.
Once your Conveyancer is instructed, you have applied for your mortgage (if required) or arranged your finances, the conveyancing process begins to gather pace.
With our dedicated Sales Progression Team, Park & Bailey really do stand out from the crowd. The team has a huge amount of experience in getting properties from offer stage through to exchange. They understand the common pitfalls as well as the intricate and often frustrating process of conveyancing. They are here to help guide both purchaser and seller alike, keeping communication at the forefront.
Arranging a survey
If you are getting a mortgage, then a basic mortgage valuation survey will be booked by a surveyor on behalf of the mortgage lender to advise on the property’s value.
You may also want to independently instruct a Home Buyers or Building survey. Property surveys are carried out by licensed professionals. They will inspect the property and in a written report will highlight any structural damage, faults such as damp and give ongoing maintenance advice.
We have several contacts of local recommended surveyors that we can put you in contact with if required.
Exchange
This occurs near the end of the conveyancing process, when the terms of the sale have been agreed and becomes legally binding.
At this stage, you usually release your deposit to your solicitor, who then transfers it to the seller’s conveyancer. Once contracts are exchanged, a completion date is set and you can now book removals and finish off your packing!
Moving day
The day you have been waiting for has finally arrived. It is the day when the remaining funds are transferred and ownership is moved from seller to buyer.
Make sure you’ve rounded up your pets, read your meters and have all the essentials to hand including the kettle, cups, tea, coffee, toilet roll, and a screw-top bottle of wine!
Once we have had confirmation from the seller’s solicitor that they have received the money you can collect your keys - it’s time to move in and get settled in your new home!