Everyone dreams of buying a property in his or her lifetime. Some may buy many properties but most vie to buy that one dream property, where they will live their lives happily. Finding such a property usually takes time. The right property usually takes an average of eight to twelve weeks to find.
The eight to twelve weeks to find a property can be minimized by using the services of a local real estate & letting agency such as Walton Robinson etc. Once you have decided on the property of your liking it will take another eight weeks approximately to conclude the purchase. You can however speed up the buying process by following the below mentioned steps:
Get the money ready:
The financing of the property is the most important part. It takes time and hence you should start this process early so that you can close the sale too at the earliest. It is ideal to meet you lender and get a lender’s agreement, which will specify how much they are willing to lend. Having this agreement in hand means you will be able to check the best places on offer as the agents and sellers know that you are a real buyer. Having an agreement will also ensure that other processes start earlier and this will mean a faster close on the sale.
Hire the services of a surveyor:
Your lender will have a surveyor who will value the property that you have chosen. Based on the surveyor’s report the lender will provide the necessary finances. The surveyor chosen by the lender will value the property to benefit the lender and hence you need to hire the services of an independent surveyor who will value the property and provide a comprehensive report. There are many types of surveys that a surveyor does, so speak to your surveyor and get the right survey done, one that values the property too. If you can come to an understanding with your lender you can get a combined evaluation done. The survey can reveal problems and you can then look at those and plan remedies in advance.
Hire the services of a solicitor:
The real estate agent would need the details of your solicitor so that the conveyancing process can start. If you can use the services of a solicitor who is also approved by the lender then the conveyancing process can be done faster. The conveyancing process usually takes the most time so coming to an understanding with your lender and hiring the services of a solicitor from their panel is a good decision.
Check the chain:
Check if you are in a chain. It is better to buy a property that is not a part of a chain. Check with your agent regarding this. A chain is not under your control and this is the reason many property purchases take a lot of time.
By following the above mentioned steps you can easily speed up the property buying process.