When is the best time to buy?

Traditionally there used to be a ‘spring bounce’ and other peaks in activity however we find that there is not as much seasonal change now.  The best time to buy is when you are ready!  Some agents say the winter is a ‘quiet’ time but we often find December is one of our busiest months!


When should I speak to a financial adviser?

Ideally before you start looking so that you have a good idea of what your budget is.

If I buy through Pattinson's do I have to use your solicitors?

No! We have a panel of solicitors who we recommend who will offer you a ‘ no sale, no fee’ fixed price conveyancing quote but you do not have to use them, you can use any solicitor you choose. 


I’ve made an offer does the seller have to accept?

No, the seller does not have to  accept an offer on their  property unless it is an auction and the offer is above the reserve. 


What is proof of funds?

Before a seller will accept your offer you need to be able to show that you have are actually able to buy the property.  If you are buying with a mortgage you will need to provide evidence that you can obtain a mortgage and that you have a deposit. If you are selling a property we will also speak to your estate agent to check that there is a complete chain. 


What is stamp duty?

Stamp Duty Land Tax is a tax which is sometimes payable to the government when you buy a property.  The amount of tax you pay depends upon the amount of money you are paying for the property. You can check the current rates online https://www.gov.uk/stamp-duty-land-tax/residential-property-rates


What is offers over?

Using an ‘offers over’ strategy encourages buyers as your property is more attractively priced than similar properties in the same area. 

What will be left in the property?

The sellers solicitor will send you a list explaining what will and won’t be left in the property, double check this carefully.  Some items may be left if you pay an additional amount.  


What is a chain?

A chain is the name used to talk about the people who are buying and selling from each other, it may be that the only people in the chain are you and the people you are buying off or there may be lots of people buying and selling. 

The bottom of the chain is the person who is not selling a property to buy (first time buyer/ cash buyer etc) the top of the chain is where someone who is selling is not buying a new property or they don’t need to sell their property to purchase another).

Only when all of the sales in the chain are ready to complete can the chain move forwards. 


How long will it take for the sale to complete?

Again this is an impossible question to answer, it depends on your financial position if you are a cash buyer it could be days, if you have a house to sell then you will have to wait for your chain to be complete and ready to move.  

Your solicitor will keep you updated as to a likely completion date, but it will also depend if the person you are buying from is buying another property and the situation of the chain above them. 


What happens after the survey?

A surveyor’s job is to look for potential  problems and if anything of concern arises from the survey a you can ask to have someone who is experienced in the area look into this further, you may also ask to reduce the price you are paying or for the seller to have work carried out to correct any issues.  The seller does not have to accept a reduced offer or to have work done. 


What is Gazumping?

Gazumping is where a new buyer offers a higher price for a property when a sale is already underway to a different buyer.