Q:
How long does it take to buy or sell a property?
A:
Because buying and selling property is a legal, as well as financial transaction, there are a number of different parts to the process. If one or more of the buyers is taking a mortgage then appropriate applications must be made, and solicitors must arrange the legal transfer of ownership. For these reasons, the average sale and purchase will take around 10 weeks, but it could be longer if there is a chain of transactions involved. Fortunately, Robinson-Jackson provide you with your personal 'Sales Progressor' to speed up the transaction.
Q:
How much can I borrow?
A:
Most mortgage lenders will work on a multiple of your income. This will take into account joint incomes if you are buying with a partner. Lenders vary depending on your circumstances. The amount of deposit you put down also can have a radical effect on the amount you can borrow. Robinson-Jackson have our own qualified mortgage advisors to ensure you get the best deal from over 2500 schemes on the market.
Q:
When should I put my house on the market?
A:
The sooner you can ask for a FREE valuation, the better. It will help you decide how much you can spend on your new home, and if you need to move by a certain date, (e.g. for schools or a job) then the longer time you allow, the greater the chances of success.
Q:
Who decides the asking price?
A:
Our experienced valuers will give a good indication of a selling price, based on other properties in the area and current market conditions. Ultimately however, the decision as to asking price (and the eventual price accepted) rests with the owner of the property (the vendor).
Q:
When should I view a property for sale?
A:
Properties can sell very quickly so if something catches your eye you should contact us to arrange a viewing as soon as possible preferably during daylight hours, but even the same evening if you think it is just what you are looking for. Remember, Robinson-Jackson are open till late, 7 days a week.
Q:
Should I put in a lower offer?
A:
If the property seems good value and you really like it, by offering the asking price you will be taken more seriously by the owners with much less chance of them considering other offers; particularly if the property has just come onto the market.
Q:
Do I need a solicitor?
A:
Yes. In theory it is possible to buy or sell a property without a solicitor or conveyancer but if a mortgage is involved this becomes even more difficult. We can recommend a good solicitor or our own Conveyancing division. Robinson-Jackson Conveyancing will speed the transaction by keeping everything under one roof and can also provide a free quotation.
Q:
Why are flats sold leasehold?
A:
The residents and owners of a flat in a building must have some way of enforcing essential maintenance on other residents and this is done with an agreement signed by all called a lease. All mortgage providers insist on a lease for a flat or maisonette of suitable wording and length as a condition of granting a mortgage.
Q:
What is a Home Information Pack?
A:
This is a range of legal documents and an energy assessment relating to the property which will be arranged by the estate agent on behalf of the seller and made available to potential purchasers. We arrange these via our own HIPs provider.
From 14th December 2007 this applies to all properties put up for sale and current legislation states that from 1st June 2008 the document must be available before the property is offered for sale.
Legislation on this is constantly being reviewed so please contact us if you need further information.
Q:
Will the estate agent help with viewings?
A:
We are happy to accompany viewers to properties for sale via us (subject to appointment) if the vendor in residence would prefer this. When we hold keys this makes our job of showing people round a lot easier.
Q:
What happens if an agreed sale is cancelled?
A:
At any point prior to exchange of contracts both buyer and seller can pull out for whatever reason or change of circumstances. If the property has been surveyed or had a mortgage valuation carried out this fee will have been committed. Solicitors may make a charge (some work on a no sale no fee basis) as disbursement fees may be incurred. Robinson-Jackson Conveyancing work on a No Sale - No Fee basis. |