Looking to make your first property purchase soon? Then it's time to get prepared!
In today's increasingly fast paced world, the domestic property market is not immune to the high paced expectations of vendors and estate agents who want fast completions. If you are a first time buyer and can proceed with a property purchase quickly, then you may be in a position that could help you negotiate a lower purchase price on your chosen property.
Channel 4s TV program ‘Location, Location, Location’ often feature ‘proceed-able’ buyers being able to secure the property of their dreams sometimes at a lower price, primarily because they are able to move quickly through the buying process. Looking at this from the vendor’s point of view, a quick and proceed-able sale means they can get on with planning their move ahead with confidence and some certainty.
From the estate agent’s point of view, they receive their sales commission all the sooner! Of course there are exceptions to the rule when both vendors and estate agents will hold out for a higher offer and this is particularly so in a sellers’ market where demand materially outstrips supply.
If you are likely to need a mortgage, it might be a good idea to start talking to a mortgage broker sooner rather than later so you can prepare ahead as much as possible.
At cherryFind we have a free search function tool that will help you locate a mortgage broker close to where you live. By typing in your postcode and selecting the service you need, you will be presented with a list of mortgage brokers. You may also find our section on preparing your documents ahead of talking to a mortgage broker helpful.
Published: 03 February 2020