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Property
| Buying
tips | Making an offer
Always make your offer to the estate agent and not the homeowner.
The estate agent has an obligation to check that you're able to go
ahead. They'll check your details, for example your name, address
etc, establish whether you're a first-time buyer, and whether your
own property is sold, under offer or on the market.
The agent will ask you if you have sorted
out a mortgage. He will then put the offer forward to the homeowner
and should confirm it in writing within 24 hours. The agent may tell
you what amount he thinks the owner is looking for or if he thinks
your offer will be declined.
The agent is obliged to put all offers in writing unless the owner
has instructed them in writing to reject offers below a specific amount.
Buying a home is not simply the price you pay. If you don't budget
for these extra costs, you will find it difficult to enjoy your new
home. And you certainly won't be able to afford a social life!
An overall guide is around two percent for homes up to £250,000.
For example:
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Estate agency fees: at 1.5 percent on a £100,000 home
will be around £1,500. (only if you are selling) Learn
more |
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Removals: the average cost of removals for a three-bedroomed
semi-detached house in England or Wales is just under £400. |
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Legal fees: for a £150,000 home this could be almost
£1,000. |
For buyers:
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Holding deposit. (not always necessary) |
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Legal fees. |
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Stamp duty (if over £60,000). |
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Full deposit. |
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Surveyor's fees. |
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Local authority search fees. |
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Removal and insurance costs. |
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Mortgage set up charges. |
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Buildings insurance. |
For sellers:
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Legal fees. |
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Estate Agents fees. Learn
more |
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Removal costs. |
Useful links
Selling your home
First time buyers
In-depth mortgage guide
Property news
Estateangels.co.uk
- The UK's leading estate agent directory
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