Buying a house FAQs

Questions To Ask Estate Agents When Buying

Buying a property can be a really exciting time. But it can also be an overwhelming and stressful process. Asking the right questions before deciding to buy a home can help to address your concerns and avoid regrets further down the line.

To help you through the process, here are some of our Frequently Asked Questions we hear as Estate Agents.

What is an Agreement in Principle, and when should I get one?

Before getting a mortgage, you will need an Agreement in Principle (AIP). Simply put, this is a written estimate from a lender outlining how much you can borrow. While most Estate Agents will require an Agreement in Principle at the offer stage, some require it as early as the viewing stage. Especially if you have fixed deadlines, we recommend getting this sorted as soon as possible.

How long will it take to buy a house?

On average, it will take ten to twelve weeks from the offer to exchange to buy a house. However, there are exceptional circumstances. While it can take a day, it could take as long as forty weeks. Our advice is to set expectations on timelines and follow up with your Estate Agent and Solicitor to track progress.

What questions should I ask at a house viewing?

While at a house viewing, it is crucial to ask questions about the property, the contract, and the purchase of the property. This includes asking about the rent cost, service charge, parking, and neighbours. But this also extends to questions relating to the lease length, the seller’s ideal timelines, and whether there are other offers on the table.

Should I offer the asking price?

According to TheAdvisory, the national average for the difference between sale price and asking price is 95.8%. While you should consider the state of the overall property market and how much you want the house, a price reduction is more than possible if you’re prepared to negotiate.

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