Valuer Neil Fyall lays out what 4 key points buyers should consider before making that all important offer.
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Property Valuer at Pagan Osborne discusses four key points for homebuyers to consider before making that all important offer.
If you’re considering purchasing a property, then your perfect home could be out there - but are you ready?
Being ‘ready’ to buy means being in a strong offering position. We see lots of clients who have found their perfect property and want to get started straight away. However as the market grows, so too does the competition.
So how do you boost your ‘buyer appeal’? Below is a simple checklist to help get everything ready so you can proceed to purchase at the right time and stand out from potential rivals.
1. Get the technicalities straightened out
There can be a lot of more technical aspects involved in a purchase which can hold things up later, so it’s best to think about them early on. For example - what name the title should be in; should it be bought in joint names or a Trust; are you purchasing in the most tax efficient way; should you consider a Power of Attorney to allow someone else to sign essential documentation on your behalf if needed?
2. Do you need to obtain a mortgage?
If you need a mortgage to buy your next property, it’s vital that you have an offer in principle (a provisional agreement to a mortgage loan), as selling parties may deal only with buyers who have their finances in place.
3. Need to sell before you buy?
If you need to sell before buying, you should obtain a detailed marketing valuation and seek pre-sales advice from a trusted and knowledgeable agent. It’s also beneficial to use an agent with a specialist conveyancing department, which can be ready to take over the legal aspects of the transaction straight away.
4. Do you have the backing of a quality agent?
The market is getting more competitive, so you need an agent with real fire in their belly! Make sure that whoever you choose has a clear passion and enthusiasm for what they do. The agent that will get you the result you want is the one who takes each purchase and sale personally. Make the right choice early on and the rest should all fall into place!”