Buying in a buyers’ market...
It is a great time to buy despite the recent negativity surrounding the housing and financial markets. If you can buy, then now is probably the best time to buy. Generally since 2007, considered the height of the market, houses prices have fallen approximately 15% to 20% with the UK average house price at £226,887 (June 2012, BBC News) and the Yorkshire & Humberside average at £151,236 (June 2012, BBC News). It remains a buyers’ market, although the numbers of buyers are low. Buyers can still grab a bargain. The question remains, as a buyer where do you start?
The Buying Process in a nutshell...
- Knowing your budget
Here you will work out how much you have to spend on your whole move. Sorting out your finances and having them in place at this stage will put you in a good position to make serious offers on a property. Agents will ask for proof of ID and proof of finance in order to proceed with your offer.
- Knowing your criteria
From your price range to how many bathrooms you need, from search areas to timescales – do you know what you’re looking for? Your criteria may change throughout your property search as you see potential homes. The perfect property probably doesn’t exist for most of us, so it may be worthwhile remaining slightly open minded and prepare to compromise on something. The first step in your search is to register with agents and portals to keep you updated with the latest properties matching your criteria. You can register with Black Horse Property or find your next home for sale today.
- The Search
Once you have a clearer view on what your looking for you can begin your search by registering with agents, looking online at property portals, visiting estate agency offices and of course arranging viewings on properties which matches closely to your criteria.
- Making the most of Viewings
In order to find the right property for you it might be worthwhile driving or walking around the area the property is located in before booking a viewing. It will mean that you will be able to get to know what the local area offers, get a feel for the area and rule the property in or out before wasting your time and the owners’ time before viewing. Make sure you take your time and ask any questions to make your decision easier.
- Decision time!
You may want to shortlist properties or you may be in the fortunate position that you’ve found the right property for you. Decision time – this may include viewing the property for a second to making a serious offer to secure the property or asking more questions to help make the right decision for you.
- Making the offer work
Always think like a seller and make a sensible offer. Making your offer appeal to the seller is your number one priority. The best buyers are those with finance in place and will not be dependent on sale to proceed. Look at the comparable evidence including other properties for sale and those that have sold.
- Offer Agreed
After an offer has been accepted subject to contract you should provide your proof of identification and funding when requested. This will help start the progression of the purchase which will include the appointment of an experienced and efficient solicitor and prepare a memorandum of sale to be forwarded to all parties involved.
- Surveys, Mortgage Valuations & Conveyancing
At this stage you or / and your lender will instruct a surveyor to carry out a mortgage valuation for the lender or a more in-depth survey report to give you that added peace of mind. Your solicitor will continue with the progression of the sale. The estate agent will be in constant communication with you to help keeping you informed all the way to exchange of contracts and completion.
- Exchange of Contracts
This commits you to the purchase and the seller to the sale.
Congratulations! You have successfully bought and moved into your new home. The estate agent will release the keys to you upon confirmation from the seller's solicitor.
At Black Horse Property we care. We take great pride in contacting you and the tenant to make sure you are enjoying your forward move and your experience with Black Horse Property.
Wanting to learn more information on buying your next property? Visit the Knowledge Room. Start your property search today with Black Horse Property. Click one of the following to see all our properties for sale (and to let).
Buying at a glance...
- Buying requires knowing your budget, your criteria and commitment.
- It is currently a buyers' market and is a good time to buy if you are in a position to afford it.
- We’re no strangers to the Bradford & Shipley district when in comes to the property market.
- A strong reputation for results, success, personal service and professionalism for over 12 years and counting.
- The key to buying in this market is knowing your budget, thinking carefully, having finances in place, making a serious and fair offer.
- We are instructed every week to help sell properties of all types and all prices throughout the Bradford and Shipley district.
- An estate agent will be able to send you properties matching your criteria.
- The best way to see properties is to look around the area first to get a feel and then book a viewing to avoid wasting your own time.
- In this market, there are a good number of "bargains" available on the market.
Heard enough? Join our mailing list today, search properties for sale or visit our Knowledge Room.
Some Hints & Tips from the helpful & proactive property experts...
Remember when buying a property in the Bradford & Shipley district make sure you know three things before you start your property search. 1) Know your budget. 2) What is your search area? 3) Know what’s sold in your search area?
Visit our Knowledge Room to find out more about buying and / or download our Buying Guide.
Hello. We are Black Horse Property of Bradford & Shipley.
Black Horse Property is a general practice firm of property agents who are committed to being outstanding in all we do every single day. We provide a full range of property services including property sales, property management, lettings, maintenance and energy performance certificates (EPC’s). We’re here to help with all your property matters. So, whatever your needs, look no further.
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