Buyers - The Buying Process

Home Buying Process – Simple Guide

 

As we all know buying a home is a big financial commitment and it is a stressful process. Getting it just slightly wrong can be costly but being prepared will make the ride much smoother.

 

Here is our simple steps to buying your home.

 

  • Figure out your budget: 

Before embarking on a property hunt, work out how much you can afford. If you are a first-time buyer you will need to put down a certain deposit % of the property value to put down plus extra savings for legal costs. Seek professional advise if you are not sure how big a mortgage you are likely to be eligible for.

 

  • Find a property:

Search the area, estate agents and websites.

 

  • Put in an offer:

Inform the seller of how much you are willing the pay and of any conditions. Do not rush in and offer the asking price however much you love the property.

 

  • It is accepted:

Arrange a survey to check the property’s condition. Legal issues will be carried out by your solicitor.

 

  • Exchanging contracts:

Once your solicitor receives all the information they require from the vendor and the mortgage lender provides you with a firm offer, you should be ready to exchange contracts. Once this happens you will be bound to buy the property.

 

  • Completion:

This is all about releasing the funds required to buy the property and will be arranged by your solicitor on your behalf as well as any Stamp Duty owed which you have 30 days to pay.

 

 

Here at Sandton Management limited we will guide you throughout this exciting process.

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