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Buyers – The Buying Process

The Buying Process

Buying a property can get quite detailed; it is accomplished by making a series of important decisions. Many property buyers struggle through the entire process of buying properties. Our versatile knowledge and years of experience make a good decision possible for those who want to buy a home. Below you will find the major steps of buying a home; these steps ensure you’re prepared to successfully accomplish your home-buying transaction.

Please call us at 020 8980 3000 to get answers to your property questions and address your specific property needs. Make the most important decision when buying a home by hiring us to represent you during the home-buying process.

Decide What You Want:

Before you start looking, make a list of what you want. According to your priority, make a scale of preference. Some areas to consider are:

  • Location?
  • Type of home?
  • Age of the home?

Determine Your Price Range:

The first step for a home buyer is to determine his/her realistic purchasing ability.

Purchase and Sale Agreement:

Once an offer on a property has been made by a buyer and accepted by the seller, they enter into a legal contract known as a Purchase and Sale Agreement. This document outlines the specific terms and conditions of the transaction and is acknowledged by both parties by the signing of the document.

Negotiation/ Make an offer:

Once sellers receive an offer, they decide whether to accept, counter or reject the offer. Negotiation is the key to getting the best deal. This involves everything from the sales price to concessions and financing. Allen Goldstein has professional negotiators who represent your interests during the entire process of a property transaction.

Financing:

You’ll need a loan if you’re not paying cash for the home. Finding the right lender or mortgage broker is not an easy task. You may work directly with a specific lender on your final loan approval or investigate the mortgage broker you wish to work with (who represents various lenders).

Closing:

At closing, all the paperwork is signed by the buyer and seller at the title company’s office; each signed document will be explained to you. When documents are officially recorded, both parties will pay any settlement fees. Before closing, you’ll receive a settlement document outlining any fees for which you apply. After closing is finalised and recorded, you will get a deed, transferring ownership rights to you and the home is yours!