Frequently Asked Questions

Quick answers to common property questions

Buying FAQs

How long does buying a house take?

Typically 12-16 weeks from offer accepted to completion, but can vary significantly.

How much deposit do I need?

Minimum 5%, but 10-15% gets better mortgage rates. First-time buyers often need less.

What's the difference between survey and valuation?

Valuation is for lender only. Survey checks condition and alerts you to problems.

When do I need buildings insurance?

From exchange of contracts, not completion.

Can I pull out after making an offer?

Yes, until exchange of contracts you’re not legally bound.

Do I need an EPC before marketing?

Yes, it’s a legal requirement before any marketing begins.

Should I accept the first offer?

Not necessarily. Consider buyer’s position, not just price.

How do I choose an estate agent?

Get multiple valuations, check fees, local knowledge, and marketing plan.

What must I disclose to buyers?

Any material information affecting the property – disputes, flooding, building work.

Do I need a solicitor?

Yes, for the legal transfer of property ownership.

What are searches?

Checks revealing information about the property and local area.

What's the difference between exchange and completion?

Exchange makes it legally binding, completion is when you move.

What if my buyer pulls out after exchange?

They lose their deposit and you can claim additional losses.

When do I pay stamp duty?

Within 14 days of completion. Your solicitor usually handles this.

Are there hidden costs?

Yes – searches, surveys, removals, insurance. Budget 2-5% above purchase price.

Can I negotiate estate agent fees?

Yes, especially in a competitive market or for higher value properties.