Buying UK Property Through an Agency/ Agent

A buyers agent is termed as the buyers advocate who are licensed companies and who are the professionals in searching, evaluating and negotiating on behalf of the buyer.

Seller agent are agents who have been instructed by the seller and they deal with all the sale process and also if you make an offer that is different to the one advertised the sellers agent takes this to the seller for negotiation.

Most Agents/ Agencies give an initial free assessment. They also help you in time and financial saving if you engage with them. You can also hire UK property buying advisors if you want to buy expensive property. 

Reason being if you do not want the hassle to do paperwork., but this does not come at a low price. They charge you a percentage of the property price as fees. You can also ask to be given a UK property buying guide through agency information.

( Learn more: Buy UK property through an offshore company )

Comprehensive details for buying UK Property through the agency

Agencies help to market and sell properties; they also:

1. Deal with paperwork.
2. Monitor the chain (of buyers selling their homes and sellers buying their new homes)
3. Please make contact with your Solicitor and liaise with them.
4. Negotiate with buyers and sellers.

Remember estate agents do not do Surveys of the property, you need to engage a surveyor to survey the property you want to purchase. 

This is a very important part of the diligence that needs to be done to avoid any issues at the final stage of the deal as if there are complications then the exchange can be delayed till the matter has been resolved.

Terms and conditions

The buyer must read the Terms and Conditions of the estate agent, and these must be followed to Buy UK property as this can take you to court if you fail to adhere to them. You must read the small print.

Documents required

Below is a simple UK property buying guide through agency and you must adhere to the laws in the UK

1. Energy Performance Certificate.
2. A buyer should make an offer (this is not legally binding)
3. Estate agents should promptly let the buyer know the outcome. If the offer is accepted then
4. Transferring of ownership (Conveyancing)

The seller is responsible for drawing up a legal contract to transfer the ownership.

The contract should have the details of:

1. Sale prices
2. The property boundary
3. What fixture and fitting (e.g. carpets, cupboards etc.) is included in the sale price?
4. Any legal restrictions or rights, like public footpaths or rules about using the property.
5. Any planning restrictions or planning approvals.
6. Services to the property, e.g. gas, electric and drainage. 
7. How long will the sale take? Time guideline.

Usually, both parties engage solicitors and will deal with the buyers and seller's questions and answers in order to negotiate the contracts.

After that, after both parties are happy, the contracts are exchanged, and completion is done.

1. The monies are transferred
2. All legal documentation for transfer of property is giving to the buyer
3. The seller moves out of the property as per contract.
4. The seller hands over the keys of the property.
5. The property is now the buyer's property.

Costs

The cost for the estate agents is payable by the seller; the buyer pays all the other payments such as:

1. Stamp Duty land tax
2. Survey's

Processing Time

There is no specific time frame for completion of any sale. Buyers and sellers have different circumstances, and issues can crop up, and this can cause unwanted delays. 

If complications do arise during the sale, then it can take some time before the matter has been resolved. The estate agents usually determine these.

Benefits of Buying UK property through an agent

Most buyers get in contact with estate agents who have properties for sell. The buyers register with the estate agents and wait for the estate agents to send them information on properties that are in accordance with or close to the criteria of the buyer. 

The property buying agents fees are paid by the buyer and is usually negotiated before the buyer's agent starts looking for the property, the buyer's agent represents you the buyer and looks after the interests of the buyer.

The buyer can negotiate the price through the estate agent who represents the seller.

Your agents for buying UK property is the person who will look for the dream house you want to buy, and they also help in advice on further details you might consider. Often a buyer misses some of the important elements of the property which are seen years later.

Buying a house rarely goes without complications as surveys, mortgage appraisals, price negotiations, home inspection etc. These are resolved on your behalf buy the Estate and buying agents.

That is why people are advised to use Professional Agents to avoid financial pitfalls. Contact Stephen M S Lai &CO. CPA Ltd for all your requirements and assistance. Contact us via www.onlinecompanyregister.com or info@onlinecompanyregister.com. 

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FAQ's Related to Buying UK Property Through an Agency/ Agent

Q: Which is the best agency for buying UK Property?

A: You have to be doing a bit of research and talking to get the best agent for your requirement. Look in the local newspaper or online, also speak to friends and neighbours who can recommend a good agent.

Q: How to contact the best agency for buying UK Property?

A: You can contact the agents online, by telephone or email. You can introduce yourself to them and give them the requirement you have and how much you can afford, to invest in buying a property and the area you want the property to be around or if the property I listed on their website then you can ask them some questions. 

Q: Is it safe to buy UK property through an agency?

A: Using agents for buying UK property is the best practice as if there are any complications at later stages, they are in a position to be able to resolve the matter. Agents will have full knowledge of the property and the local area. agents for buying UK property

Q: Who are trusted agents for buying UK property?

A: There are approximated 500 top-rated Estate Agents in the UK. To name a few:

1. Manning Stainton
2. Bradley's Estate Agents
3. Northwood
4. Ludlowthompson
5. Ryder and Dutton
6. Choices
7. Reeds Rains
8. Townends

The list is not exhausted, but it all depends on who you choose.

Q: Name of UK property buying advisors?

A: There are many advisors in the UK to name a few, namely:

1. Henry Pryor
2. Alex Goldstein
3. Investment property
4. Knight Frank
5. UK Property Advisors Ltd