How to Buy a Property

About this guide

The house buying process comes with many important steps. You need to prepare for each step to avoid delaying the process. From doing your initial research to learning the type of mortgage that’s best for you, every stage is just as vital as the next.

Compare My Move want to make buying a house as stress-free as we can, that’s why we work hard to prepare you for every stage of the buying process.

  • 1. How to buy a house? The process explained

    Buying a house can seem daunting, especially if you’re a first-time buyer. With conveyancing, surveying and mortgages to think of, it’s difficult to know where to begin. If you set yourself a budget and create a moving plan, then you’ll have peace of mind that you’re fully prepared for the home buying process.

    Compare My Move work with property industry experts to bring you the most accurate and reliable advice for buying and selling a property. This guide features an in-depth look at the buying a house process. We cover 15 important points to help you prepare for every step of the way.

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  • 2. What are the Different Ways to buy a House?

    There are many different ways to buy a house with no one method that suits everyone. The most popular way to but a house is known as ‘private treaty’, where a house goes for sale on the open market with an asking price that’s usually negotiable.

    Compare My Move work with the best property experts in the game to help keep you informed throughout the buying process. This guide will explain in detail the many ways to buy a house. From buying a house at auction to using a Shared Ownership scheme, we cover it all.

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  • 3. How to make an offer on a house?

    When you’re ready, you will need to make an offer on the house you plan to buy. Spend time to work out a realistic offer. Research how much similar properties in the area sold for, and base your opening offer on that. It should be noted that most buyers’ first offer is between 5-10% below the asking price.

    Be prepared to negotiate your offer. You’ll also have to give valid reasons if you’re putting in a low offer. If your property survey returns poor results, you can use that to try and negotiate a lower offer.

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  • 4. What is sealed bidding when buying a house?

    A sealed bid is a type of auction that is used when there is significant interest in a property from competing buyers. It is most often found when the housing market is strong, and is a way for sellers to receive multiple offers before settling on a final price and choosing a winner. Despite the sealed bid process encouraging a quick sale, there are issues for buyers to consider before submitting an offer.

    To help you make an informed decision, Compare My Move has worked alongside property experts to create an article explaining the sealed bidding process and what it means for both the buyer and seller. From how it works to the pros and cons, we have everything you need in one useful guide.

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