Buying Tips
Points to Consider when Buying a Home
Affordability
Your budget will determine what and where you can buy. Before you start the process, you should check your “spending power” with your bank, Mortgage Broker or lending institution.
Location
What are the most important factors for you:
- how good are the local amenities such as schools, transport, shops?
- what leisure facilities or recreational opportunities are nearby?
Which property?
- Use our search facilities to see what is on the market for sale.
- View a number of houses before making any offer as you will then have made some comparisons and be in a better position to judge values.
- Remember location is the main factor affecting valuation.
Viewing a property
There are many things to consider when viewing a property and often the most important questions are forgotten. Ensure you ask the relevant questions such as:
| Asking price of the property? |
| Current Offer? |
| How close is the property to facilities such as schools, shops and leisure facilities? |
| Are there safe places for kids to play? |
| Are there any transport options, such as school buses etc? |
| What direction does the garden face? South or southwest is best! |
| Is the garden easy to maintain? |
| Does the property have a garage or off-street parking? |
| What fixtures/fittings if any are included with the property? |
| How quickly would the owners like to move? |
Making an Offer
The offer should be made to the estate agent who will pass it on to the seller.
Here are some helpful pointers:
- Remember the three most important valuation factors are location, location and location!
- On occasion, the price of a property may have a small amount of leeway built into it so you might initially offer less than the asking price, unless you want to agree a deal quickly.
- Your offer is made subject to contract; this means that neither party will be legally obligated until your survey has been done and both purchaser and vendor have signed a binding contract.
- Make clear whether your offer includes carpets, curtains, blinds, light fittings, integrated applianc or other contents.
- Sellers do not always necessarily take the highest offer. Some sellers like to be reassured their home is going to someone they can rely on to complete the purchase.
- The seller and agent will be reassured if you are able to:-
- confirm that your own house is sold,
- pay an agreed deposit,
- show that your mortgage arrangements have already been approved.
If your offer is accepted and you pay a Booking Deposit, you will get a letter from the estate agent confirming the agreement reached on a "subject to contract" basis. You now need to employ a solicitor and finalise mortgage arrangements. Your solicitor will then advise you on the progression of the purchase.
Disclaimer: while every attempt has been made to ensure the accuracy of the information provided in the above, P F Quirke & Co Ltd accepts no liability for any errors or inaccuracies which may arise. When buying, selling or renting a home you are strongly advised to seek professional legal advice.