Mind the Gap

It all comes down to your personal situation, lifestyle and other preferences, and financial criteria. Naturally, the more members in a household, the more considerations there will be.

Central London is already a big pot of characters. Broadening the scope to Greater London can jumble up the decision-making.

Do your research carefully to sift out the wheat from the chaff.

How familiar are you with the area you are looking? How well do you know the different property types? What are your specific requirements?

Love at first sight is entirely possible. But normally for the heads to work properly, it takes a few viewings.

If you are on the ground, we would suggest as many viewings as your time allows. Even for those that don’t tick all the boxes (and you do have to accept that the dream house may not exist within your budget), it may be worth a visit. You need a basis for comparison, to distinguish between what looks good on paper and what meets expectations in reality.

If you are roping in friends and family, do brief them on what to pay attention to beforehand. And do carry out some due diligence so it is not a random shot in the dark and they do not end up traveling from SE London to NW only to be told some obvious deal-breaker. A favour is seldom free.

From offer to completion, it can take anywhere from a couple of months to a year. The number of parties in the chain, sellers’ situation, buyers’ finances and unexpected issues found in conveyancing are common factors in the holdup. The offer or its acceptance has no legal binding power. Some of the information can be and should be cleared in advance before you make any offer, to reduce the risk of surprise and delay.

Estate agents work exclusively for sellers in the UK, unlike some jurisdictions where they have a fiduciary duty to both sides. And as such buyers and sellers (or landlords and tenants) equally split the commission payment. In the UK, buyers don’t automatically get any representation.

Using a buying agent can save you both time and money (and perhapas sanity) so you can focus on other aspects of your life.

Before committing to one, ask yourself - do you have the time and aptitude to do the job yourself? What level of result would you be happy with?

Again, it depends on your personal situation and aptitude. We are obviously biased!

Buying agents do tend to work more with overseas buyers, as distance does complicate the already complicated buying process. But they can be useful for anyone, especially those short of time and boots on the ground. As one-third of transactions typically fail to reach the finishing line, it does help to have yours in experienced hands.