THE BUYING PROCESS
At Hyde Park Residential, we make every effort to ensure that the often arduous process of scouting for property is as easy and successful as possible. We do this through a rigorous series of steps that have been proven to maximise results.
1Determining the objectives of the client
Prior to agreeing to a mandate, we’ll discuss your expectations and requirements in detail. This is especially important if you’re an overseas investor and may be less familiar with the spectrum of properties and locations available in central London.
2Detailed analysis of the investment
If required we perform an investment review of the property. This provides investors with an indicative cash-flow projection of the property being considered and a gauge of how the property could perform financially prior to making a commitment to purchase. The analysis includes purchase costs, rental income, mortgage repayments, and on-going running costs, including letting and management fees.
3Agreeing the terms of engagement
Having discussed your requirements and having ascertained the feasibility of your objectives, the terms of business are signed and the search is triggered.
4Initiating a search
Finding the perfect property for you will involve carrying out independent searches through an established network of contacts and liaising with various estate agents operating in the targeted area. As matching properties are identified we only view those that meet your exacting standards, while providing you with up-to-date observations and recommendations.
Where possible we always advise clients to view the property before placing an offer. However this may not always be possible. In such cases, alternative arrangements are made.
6Selecting a property
Once negotiations with the vendor begin and a purchase price is agreed the property will be placed ‘on offer’ and this marks the beginning of the contracting period during which all work involving searches, surveys, banks and solicitors will be completed.
7Reviewing of documentation
Solicitors of both parties conduct the exchange of contracts and completion. We’ll facilitate this process by acting on your behalf, ensuring a seamless conclusion to the transaction.