You’ve seen the house you want to purchase and you’re ready to make an offer, but just what documents do you need to be in a position to make said offer?
We’ve put together a handy blog that will hopefully help you feel more confident about purchasing the property you have your eye on, so why not take a read?
Proof of affordability
This is one of the first things an estate agent will ask for, it’s their way of ensuring you have the capital available to afford the house you are interested in. Without this, you could say you want to buy a luxury home but there’s simply no way of proving if you could afford it. Not only is it a waste of yours and the estate agents time, but it will be a real bugbear of the homeowner, who will only want genuine buyers looking at their property.
We can provide proof of affordability at Warrington Mortgage Centre. We’ll look at your finances, and then be able to come up with a budget that we are confident you’ll be able to afford. This will then allow you to narrow down the properties you have in mind.
Before looking, either through email or in person, you will need to send over the following to the estate agent:
- Decision in principle
- Agreement in principle (or mortgage in principle)
- Proof of deposit (this can either be a bank statement, savings account or a written and signed letter from a family member who is willing to be the guarantor)
- ID, usually two forms. (These can be driving licences, bank statements, council tax, passports etc)
At the offer stage
Once the estate agent is happy with all of the above, and you’re also happy with the property you’ve visited, then you will move on to offer stage.
The estate agent will ask you what you believe the property is worth, now be realistic, as you are unlikely to get £20,000 knocked off the listing. Instead, you may feel that the price is justified, or if you feel you want to offer slightly less than of course go ahead and submit that offer.
It depends on the property and the market, however. If a property is in high demand, then it will likely sell asap for the asking price, so haggling may not be the best choice if you don’t want to miss out.
On the other hand, if you have a property that’s been on the market for a while, needs a lot of work or isn’t perfect, then, of course, see how low you can go.
The above is just a snippet of how you can get yourself more prepared to make that offer, if you feel you need more information, or would like help with the process, then give our team a call on 01925 573328 and we’ll get back to you straight away.