Property For Sale Leeds
Below is our residential property for sale in Leeds. In case you’re new to buying property, read our 5 steps for finding the right property, and how to go about buying a residential property.
5 steps for finding the right property for sale in Leeds
1. Find out your budget. Get a decision in principle to find out the amount you could borrow for a mortgage and check any fees/brokers fees. Remember to use your prospective new outgoings like cost of travel to work, buildings insurance, council tax for your budget/area. Factor in purchase and moving costs too – surveys, solicitor fees, removal quotes, any stamp duty land tax. Later, once you see a property you want to make an offer on, ask to see current bills so you can work out more precisely if you can afford to live there.
2. Before you look at property for sale, think about how far away, and from what, you want to live. Do you want to be near work, or near your friends or leisure activities? How will you get to work?
What type of property, location, and facilities, within budget, are the most suitable for your long term plans? Is there scope for alteration so it might fit with your long term plans.
Do you want a ‘doer upper’, a bit of redecorating, or to live footloose and fancy free? If it’s a ‘doer upper’ and particularly if you’re a DIY novice, get a builder to accompany you on your second viewing to offer further advice on what needs doing, and an estimate for the works.
3. Try to keep an open mind to property for sale that meets your criteria but isn’t in your preferred areas. There is rarely such a thing as a perfect property. It can help to write all the pros and cons of potential purchases down to help form a clearer picture of whether the property for sale presents a realistic compromise for you.
4. Look at property for sale to understand which areas are within your budget. Visit those areas to see if you like them or not. If you need any help or advice on which areas of Leeds have the most scope or are right for you to buy your residential property in, we grew up in Leeds and know it well, so just give us a call.
5. If you do see a property for sale which you want to make an offer on, check the Land Registry house price data for recent selling prices of similar properties in the area to get a good feel for what it’s worth. You can also speak to us to see what price the seller is looking for.
What Happens When Your Purchase Offer is Accepted?
1. We will ensure you have the funds agreed to support your offer. You also need to formally apply for your mortgage against the particular property.
2. You then have an opportunity to have a survey done on the property. If you need a mortgage, the lender will at least procure their own valuation survey. However, you may want a bit more information depending on the type and condition of the property for sale.
3. A Condition Report is a basic survey for homes in good condition. A HomeBuyer Report looks at the general condition of the property including visible structural defects. The Building Survey is a comprehensive survey which looks under floorboards and behind walls and is recommended for older homes or ones in need of repair.
4. You need to hire a solicitor and let us know their contact details. We will liaise with them and the seller’s solicitor to kick off proceedings. The solicitors will then communicate with each other on the legal conditions of the sale. Your solicitor will also do conveyancing work such as commissioning searches with the local authority, and legal checks for any issues with the area or property.
5. Once you are satisfied that you wish to proceed, your solicitor will send you the contract to sign. This will contain the date for completion (when you pay in full and get the keys). You usually have to pay a deposit at this point. The buyer will also sign a contract, and the solicitors will send these to each other. This stage is called exchange of contracts, and it’s when the purchase becomes legally binding. Lenders normally require you to have proof of buildings insurance arrangements before releasing the funds at completion, and since you’re legally committed to the property from exchange, it’s a good idea to insure from this date.