Relevant steps to buy best property across UK

For making best property investment in UK you need to follow several guidelines. No matter what ever route you select to buy property across UK, you will always require mortgage advisor, a solicitor to accompany you in home buying journey. Buying real estate property is not straight forward nowadays and it becomes even more complex when you buy it in joint ownership. For collecting information on property investment in UK you can refer to the website Inspired Asset Management.

What are the several steps involved in making best property investment in UK?

First of all when you decide to buy property choose a locality. List vividly the sort of amenities you need.

Tot up or collect all the money you have for use as deposit. Do account for set up costs and house-purchasing costs.

Get in touch with a good mortgage broker to seek mortgage advice. You will be choosing right mortgage under his advice. Mortgage broker will assist you in application and you will conveniently receive ‘decision in principle’ on the amount to be borrowed for carrying out the buying process.

Search online property portals that cover UK and register with real estate agency in your locality.

Find out property solicitor who will carry out all the legal aspects of house-purchase process. He can also help in drawing agreements in case you and your friend is buying joint property.

With the help of real estate agent try to find out best property across UK that fits the bill.

Make the property buying proposal but you need to keep it subject to contract and survey.

If the home builder accepts your offer, ask your agent to take the real estate property off the market.

Instruct the solicitor to act on your behalf after acquainting him with the terms and conditions along with location information of property and vendor estate agent’ location.

The solicitor will automatically contact property solicitor of vendor asking him for title deeds of property. The contractual proceeding commences here.

Find out a good surveyor and get the home inspection report. Carrying out the full structural survey will offer you information about the present condition of the property. In this way, you can avoid dry rot, asbestos in the property.

The mortgage lender carries out the property valuation independently. You need to pay mortgage survey charges. Mortgage lender agrees to pay the mortgage money.

The survey report copy must be sent to solicitor. Discuss on his findings about property. Ask for the slight reduction in property price.

Solicitor checks out the property and carries out authority searches and suggests changes required. The details of the contract is then finalised by the solicitor with vendor’s solicitor.

Deposit the amount of money in solicitor’s account and he holds it till the contract is exchanged.

Solicitor prepares the property transfer deed that is signed by the seller and you.

Mortgage lender then transfers the money into the solicitor’s account which is ready to be completed.

On the day of completion you can move in and the solicitor transfers the amount to seller’s solicitor for getting the transfer deed, the home keys and Land Registry Certificate.

If you follow the above step by step guide then there would be no confusion in the home buying process.

Author Bio

The Author is an expert in asset management with focus on Property Investment in London.