The House-Buying Guide – Part 2

Last week, we released Part 1 of our step-by-step guide to house-buying and looked at the topics of:

  • Organising your finances, and
  • Finding your perfect home

You will find the second installment below.

Part 2 of the House-Buying Guide


3. Make an offer on your next home

Once you discover the property that you want to purchase and as long as you have completed Step 1 (released last week), you’re now ready to make the sellers an offer that (hopefully) they won’t be able to refuse.

The offer is generally made via the estate agent instructed to sell the property. They will let the sellers know what price you are offering to purchase the property for and the sellers will decide to either accept or refuse that offer. Sometimes, the sellers will come back with a counter offer if they believe that the price they have been offered is a little low. These negotiations can sometimes take a little while but hopefully they will result in a positive outcome for you.

4. Get a home survey

Once your offer has been accepted by the sellers, you are ready for the next step which is to confirm your mortgage application. In order to do this, your mortgage lender will need to do a property valuation to ensure that the property you wish to purchase is worth the offer you have made to the sellers.

As soon as you have an offer accepted by the sellers, let your mortgage advisor know. They will then inform your mortgage lender so that a property valuation can be arranged. It is common practice to get a home survey done at the same time as the property valuation and this can be arranged through your mortgage advisor and mortgage lender. The home survey will look at the property condition and will highlight to you any repairs or maintenance that are needed.

Once the property valuation has been confirmed and as long as you are happy with the survey report received, your mortgage lender will then be able to confirm your mortgage application.


The third and final part of our House-Buying Guide will be released next week.