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Must Know info CRG PROPERTIES Real Estate Buyer


Exciting times, buying a property. There’s a lot to think about, though.
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 your buyers.

Are finances in order?

Before you do anything else, we say do your research and find out how much you can 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 have 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 some views. When looking around a property, use the estate agent and ask questions. You might want to think about things like:

The number of years left on any lease (if it is a leasehold property)

Does the property have things like gas central heating, modern insulation, and double glazing? If not, these are big-ticket items to get fitted for.

The council tax band the property falls in. Any service charge. Local transport links .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 on a property

You have found a property you are sure you want to buy. Call the estate agent and let them know how much you are 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 several people keen to buy the property, you might be invited to take part in a sealed bid. Or highest and best.

Is everything in order?

  • When your offer is accepted, you will need to employ a conveyancer. This legal specialist will manage any negotiations related to the purchase of the property on your behalf. They will check that all the paperwork is in order and look after the details of the contract for you.

    Most people hire a chartered surveyor, too. The surveyor will do a full survey of the property, highlighting any potential problems that might need looking at. There are two types of survey you can buy: a homebuyer’s report and a building survey.

    Mortgage arrangement fee.

    Mortgage indemnity fee

    Lender’s valuation fee


    Land Registry fee.


    Stamp duty land tax.


    Contingency fund (there are always unexpected costs along the way)

    Building and contents insurance



Buy-to-let properties are often great investments, but you must look at it as a medium- to long-term investment and not the means to a quick buck. Buying property to rent out is an extremely popular income generator. There are the prolific investors with their massive portfolios, who make a living out of buy-to-let and there are those of us who invest in a particular property as a sideline, or canny pension. It is important to research the area you are thinking of buying in and the type of tenants you are likely to attract. We will help you with that and advise you on the rental income you can expect, assessing whether that balances out with the investment you could be about to make.

Understanding the Formulas of analyzing Investment property

  1. As you would with any business, you need to plan and figure out what kind of money you could make from the property before committing.

    To calculate the percentage gross rental yield on your investment,

    (total income per year ÷ the value of the property) x 100 = % gross yield

    To calculate the percentage net yield

    ([total income – total costs] ÷ the value of the property) x 100 = % net yield

    To calculate annual running costs

    mortgage repayments + estimated refurb costs + vacant time (estimate 30 days per year) + service charge and ground rent (if the property is leasehold)

    And our last piece of advice…

    Set a realistic rent. Setting a high rental value will put off tenants and could well increase the amount of time your property is vacant. This means you will be forking out money, but there will be none coming in.

    This is our super-quick guide to buy-to-let. Of course, there is so much more to the process and every case is different. So, we recommend you speak to your local Winkworth lettings team and seek independent advice. Call or text CRG PROPERTIES CRG HOMES NJ at 347 433 5473 with your real estate needs and we will help. Email: Click Here 

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