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sales@lannisterhomes.com / lettings@lannisterhomes.com 0116 326 6805

Guide to Buying

We understand that buying a property can be daunting, particularly if you haven’t done it before. That’s why we’re here to make it as simple as possible.

What do you need to know? Our team are here for you to help you through the entire buying process

 

Step One

 

Have you sorted out your finances? In the current market, there are many more buyers than there are properties available to buy, so it is important that you have this in place before offering on a property. It could make the difference between you having an offer accepted on your perfect home or missing out because someone else has their finances in place quicker than you. It will also mean that you don’t go looking at properties and set your heart on one that you can’t afford.

Approaching your bank is a great start, however, they have limited offers available as they will only be selling their products. If you choose to approach a mortgage or financial advisor, then check how many lenders are on their panel- the more lenders they have the better deal you can secure for yourself. You could save yourself hundreds of pounds by finding the right mortgage for you, which could ensure you are not burdened with excessive financial pressure.

Here at Lannister Homes, we can offer you a free one-hour appointment with your local Mortgage Advice Bureau advisor. They not only have vast experience and knowledge to help guide you through the process, but they also have over 90 lenders on their panel giving you the option of thousands of products. Please click here to see more information about our mortgage advisor, or feel free to contact us to arrange the appointment.

If you are a cash buyer, then make sure you have the documentation ready that allows you to prove that the funds are available to you.

 

Step Two

 

Register your interest in finding a property. We will ask you for details about your perfect home. This is your chance to tell us what the perfect home is for you. We will listen to your requirements and only match you to suitable properties. After all, there is no point in sending you to look at a two-bed terrace if you really want a 4-bed detached!

It is important that you take some time to consider what you want from a house. Unless you build your own from scratch, it is very rare that your perfect home is out there waiting for you to buy. Consider two categories. What are your ‘must haves’ in a property- these are things you absolutely will not live without. It could be the location, or possibly that you must have a driveway big enough to accommodate your work van. The second option is the ‘preferred’ option. Perhaps you would like 4 bedrooms in a house but could be more than happy with three if they were big enough. If you can narrow down your requirements into these two categories, then it will save you a lot of time and unnecessary heartache looking at properties that aren’t suitable.

At first, especially if you are new to buying a house, you may want to keep an open mind and view lots of houses to get an idea about what is right for you and to narrow down your requirements into these two key categories. We have seen many people change their minds about what is more important to them in the perfect home when they have started looking at what is available.

 

Step Three

 

We will organise viewings for you on suitable properties. We will accompany you around the properties and give you as much information as we can about them. We can offer viewings evenings and weekends, or any time to suit you- although some properties will be unavailable depending on when sellers allow us to show you around.

We will call you soon after your viewings to see what you thought. This feedback helps us to sell the property in question, but it also helps us get to know you better. By finding out what you like, and don’t like, about a property we are able to increase our knowledge about what would be right for you- allowing us to narrow it down and help you find your ideal home.

 

Step Four

 

When you have found the property, you feel that you want to buy then put in an offer. Our advice to you at this stage is to decide what the house is worth to you, and then offer that.

For example, if you feel the property is only worth £200,000 and you offer this- be sure that you could be OK with the decision that if someone else comes in at £201,000 and ends up buying the property. Don’t miss the opportunity to buy your ideal home because you thought you could save yourself a couple of thousand pounds. While every penny is important, is it important enough to risk losing the property over?

Once you have made an offer we will re-clarify your position. We will ask you about your mortgage, your estate agent details and solicitor details. Most sellers will only take offers from buyers that are able to move forward.

Once your offer is accepted you will need to instruct a solicitor to help you proceed with the purchase. We can help you with this.

If applicable, you will also need to instruct your mortgage advisor that you have found a property for them to be able to submit your mortgage application.

Only when we have contacted your mortgage advisor to confirm you have submitted a mortgage application and formally instructed a solicitor, will we mark the property as sold. Remember that by law, we need to do the best for our seller, and the same goes if we are selling your house too.

At this stage, we will assign you a dedicated advisor who will make weekly contact with you to guide you through the process.

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