At BIG Property we often guide first time buyers who are looking for a first home. We understand it can seem quite daunting, which is why we're always at hand throughout the whole process, offering advice and round the clock support.
We're equally practised with helping our more experienced property buyers, be it an investment property, a new addition to a portfolio, a second home, or just the next BIG move - you can depend on our experienced services, working with you through the whole process.
Below we have broken down BIG PROPERTY'S very own guide on buying, step by step, to help you understand just how simple it is, and what to expect going through the buying process with us.
The First Steps to Buying a Home
Finding a place to live can be challenging but BIG Property are here to make your property search successful and as quick and easy as possible.
Our local expertise enables us to identify the best locations to meet your individual needs and aspirations, and we are able to advise on the types of property available in your specified area, from period gems to modern state-of-the-art residential developments.
BIG Property have unrivalled contacts in the property sector, often enabling us to alert our clients to properties coming onto the market before they are advertised. We can often make discreet approaches to property owners even if it is not formally on the market.
We give straightforward, honest advice on the true value of properties under consideration and point out any negatives that are not necessarily mentioned in the brochure.
Our clients can entrust us with negotiations in full confidence that we will endeavour to obtain the best terms.
FINDING THE RIGHT MORTGAGE
Most people buying property will need a mortgage and it's good to get the ball rolling early in the process. A good independent mortgage advisor will work out what you can afford and will have access to the very best home loans from the whole of the market.
Don't forget, lenders will look at all your outgoings to assess your financial health, so be prepared to provide proof of income, savings and deposit.
The first step to finding the right property with BIG Property is to call us on 01202 070 007. A member of our local team will take your details and carefully match those with our advertised stock. When registered you will be privy to new properties before they appear online. We're proud of the fantastic selection of properties we offer and we'd love to give you first refusal. Tell us about your dream home and if we don't already have it on our books, we'll make it our mission to find it.
You can also register your details online using our contact form.
Selling? Request a free valuation so you have an idea of what you can afford.
Call us on 01202 070 007 for a free market appraisal or complete our online valuation form.
The web is a great place to look for properties but the choice can be overwhelming, therefore the BIG Property team would be delighted to personally assist you. Give us a clear brief and we'll present you with hand-selected homes that meet your requirements. Check out our great Property Alert function too - it's easy to use and ensures you never miss a new opportunity.
We understand the demands of our clients. Our opening hours are designed to ensure that we can show properties at times to suit you.
It's always best to view a property at the earliest opportunity. Good properties, priced correctly and in desirable locations will always sell quickly regardless of market conditions. Our staff will be armed with local knowledge should you have any questions you would like to ask.
It's easy to be overwhelmed when you step inside a home so take a list of questions prepared in advance. Don't forget to ask about running costs, council tax rates and what the current owners have done to improve the property during a viewing.
We suggest two viewings at different times of the day for properties that you're considering making an offer on.
"Dear BIG Property.. I love my new flat! Thank you for all your help and support during the legal stages, and for being so patient with me. I won't hesitate to recommend your services to friends and family in the south coast. Keep it up!"
Daniel - Boscombe
Making An Offer
Once You Find The Right Place...
MAKING AN OFFER
Once you have an offer in mind, we'll contact the seller and make your best offer official - by law we are bound to notify the seller of all offers received. There may be a period of negotiation before a price is agreed but we'll let you know as soon as an offer has been accepted. BIG Property understands communication at this stage is crucial. We'll keep you informed every step of the way.
At this stage you must determine whether there are any special conditions of the offer. You may be required to provide financial evidence to support your proposed offer and to show an ability to proceed. Please note that neither party has a legal obligation until contracts are signed. Once your offer has been accepted, the team at BIG Property will facilitate the next step by:
Writing to all parties to confirm the agreed price and any special conditions.
Asking you to confirm details of your appointed solicitor and mortgage broker.
Preparing a sales memorandum to be distributed to the appointed solicitors.
You will need to confirm the details sent in the Memorandum of Sale and formally instruct both your chosen solicitor and mortgage broker.
A good solicitor is worth their weight in gold. When appointing a solicitor ensure that they are a conveyancing specialist. Remember that value is not always determined by price. The success rate of property purchases can be significantly increased by the instruction of an efficient and experienced solicitor.
We'll assist your solicitor in their enquiries and we'll manage the process through to completion.
BIG Property has a selection of proven solicitors who would be happy to oversee your property transaction. Please ask for further details.
Your solicitor will need to ensure that there are no legal reasons as to why you should not proceed with a purchase.
DOCUMENTATION, CONTRACTS & DEEDS
You can expect all the necessary paperwork from the vendor's solicitor via your own solicitor. After reviewing the documents, your solicitor will send preliminary enquiries to the vendors.
You will need to make sure your solicitor has been provided with funds in order to carry out local authority searches. These will clarify matters such as flooding, covenants, boundaries, restrictions, contamination, planning permission and rights of way.
THE MORTGAGE OFFER
If you are not a cash purchaser, you should already have a 'Mortgage Agreement in Principle'. In most cases this agreement in principle is made subject to a survey of the property. The mortgage lender will appoint a surveyor to attend the property who will advise on structural concerns and determine the property's value.
There are different types of surveys:
Home Buyer Report
Building or full structural survey
New-build snagging survey
Normally the age, construction and condition of the property you want to buy will determine which survey is best.
Following the mortgage valuation and on receipt of the valuation report, your lender will formalize a mortgage offer which will be sent to you and your solicitor. This will need to be signed and returned at the earliest opportunity to ensure that funds will be transferred to your solicitor's account in time for completion.
EXCHANGE OF CONTRACTS
Once the legal searches have been completed and enquiries satisfied, you will proceed to exchange of contracts. This is one of the most important milestones in any property purchase. The exchange is when the signed contracts binding the buyer and seller to the deal are swapped and a buyer's deposit is transferred to the seller's solicitor's holding account.
The exchange is co-ordinated by the two respective solicitors and is a legal transaction. At this point you'll need to make sure your funds are ready, the relevant people are in the right place to sign the contracts and that your solicitor is happy with the details pertaining to your purchase and/or sale. Once the exchange has taken place, a mutually convenient completion date is then agreed between both parties. This means you can book a removal company and put the Champagne on ice!
Don't forget to arrange the parking to the front of your property for the removal van.
COMPLETION & MOVE IN
On the day of completion your solicitor will need to transfer the balance of any outstanding monies. Once we receive confirmation from the vendor's solicitor that the transaction has been successfully processed then we will release the keys to your new property.
Congratulations are now in order. You are the legal owner of your new property and you can move in as and when it suits you.
PREPARING FOR THE MOVE
To help you start your new chapter here are some things to think about:
Notification of change in address: Ensure your records are updated with your new address (Bank, DVLA, Insurance companies, etc).
Utilities: You'll need to inform them of your completion date. Meter readings will also have to be taken on the day of completion.
Council tax: Apply for any refund that might apply to you and ensure payment of the new amount for your new address.
Parking: Contact the local council to apply for a parking permit if necessary.
Registered in England, No 11262185. Big Property is a trading name of The Bond Investment Group Ltd. 2018, All rights reserved.
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