There’s a lot to think about when it comes to
buying a property. There’s nothing quite like a
face-to-face chat with an expert, but here’s a
quick summary of useful tips and reminders for
you buyers. Follow this steps:

YOUR FINANCES SHOULD BE IN OTHER.
Before you do anything else, we say do your
research and find how much you can actually
afford to spend on a property. Take into
account any available cash you have for a deposit
and then speak to a mortgage broker, or a
selection of providers and find out what they’d
be willing to lend you. Make sure they put their
‘in principle’ offers in writing.Don’t forget, you’ll
need to put money aside for the stamp duty land
tax, too.
LOOKING AT PROPERTIES
So, you’ve scoured the estate agents’ websites
and windows, poured over the property portals
and pounded the streets figuring out where you
might like to buy. Time to book in some
viewings.When looking around a property, use the
estate agent and ask questions. You might want
to think about things like:
1 )The number of years left on any lease (if it’s a
leasehold property.
2)Does the property have things like gas central
heating, modern insulation and double glazing? If
not, these are big ticket items to get fitted.
3)Where the property falls in
4)Any service charge
5)Local transport links
6)Outdoor space
If you like a property, be sure to get in a
couple of viewings at different times of the day
and invite friends and family along for a second
opinion
MAKING AN OFFER
You’ve found a property you’re sure you want to
buy. Call the estate agent and let them know
how much you’re willing to offer. Don’t be
surprised if your first offer is declined – that’s
the name of the game and buying a property is all
about negotiation.If there are a number of
people keen to buy the property, you might be
invited to take part in a sealed bid.
EVERYTHING IN OTHER?
When your offer is accepted, you’ll need to
employ a lawyer. This legal specialist will manage
any negotiations to do with the purchase of the
property on your behalf. They’ll check all the
paperwork is in order and look after the details
of the contract for you.Most people hire an
estate surveyor and valuer,too.The surveyor will
do a full survey of the property, highlighting any
possible problems that might need looking at.
There are two types of survey you can buy; a
homebuyer’s report and a building survey.
MONEY MONEY MONEY
Buying a property costs money; a lot of money.
You’ll be asked to hand over your hard-earned
cash throughout the process.
i)Mortgage arrangement fee
ii)Mortgage indemnity fee
iii)Lender’s valuation fee
iv)Conveyancing/Legal fee
v)Land Registry fee
vi)Surveys
vii)Stamp duty land tax
viii)Removals
ix)Contingency fund (there are always
unexpected costs along the way)
x)Building and contents insurance.

Reference: shortlet.gnbo.com.ng