When you have come to the end where you are ready to make an offer on your first home, it is key to make sure you have got in touch with a knowledgeable mortgage advisor in Durham where you can talk about your personal and financial situation.
By doing this, you are able to get the best advice you need to progress throughout your mortgage and home buying journey. Along with this, your dedicated mortgage advisor will be able to find the most suitable deal for you as soon as your offer has been made.
Majority of the time you will find that a cash buyer has more of an advantage when it comes to buying a home. The mortgage process involves time and careful handling of paperwork, which can usually be avoided by paying for a property outright.
With this, you will need to have a lot of disposable income, which you may not afford to do. If you’re going for the mortgage route, it is important to obtain a mortgage agreement in principle beyond making an offer.
By having a mortgage agreement in principle to hand you are presenting yourself as being a serious buyer and have been prepared to start the mortgage process ahead of time.
Not having this documentation to hand can show a seller that you aren’t prepared as another potential buyer who may have one. As well as this, any credible estate agent will want to see that you have an agreement in principle.
Situations like these can be the reason why speaking to a mortgage broker in Durham could help you during the home buying process.
As soon as you have found a property that you are interested in making an offer on, our team will be able to sort out your agreement in principle within 24 hours of your initial appointment, in some cases, the same day!
The negotiation process is paramount in buying a property. If your first offer is rejected, don’t worry, as this can be common and there may still be lots of other opportunities out there for you like making a revised offer.
In the case where your increased offer is also rejected, you may need to increase it even more or call it a day. As a mortgage broker in Durham, we do find that newly listed properties will come with sellers who aren’t likely to budge in comparison to a long-listed property that isn’t selling.
To get an overall idea of the price you could be paying for a property, it may be best to check property sale websites to get an insight into sold house prices from that area. You may be able to find these prices from Land Registry which means they are reliable for comparison.
On some occasions, you may find that some houses may end up selling for far less than they are actually worth, because of repossessions, being sold to a tenant for a discounted price or something else like an inter-family sale.
If you are wanting further information regarding the best ways to make an offer on a property and are looking for some assistance with starting your mortgage journey as a First Time Buyer in Durham, you may benefit from getting in touch with a dedicated mortgage broker in Durham.
Our team are available 7 days a week to answer your questions and we have appointments on offer at times that best suit you. Book your free mortgage appointment today to discuss your options with a mortgage advisor in Durham.
Last Edited: 24/01/2023