Dealing with Estate Agents
As a first time buyer one of the aspects of the house buying process that you'll quickly need to be accustomed to is dealing with estate agents.
When we came to buy our first property we found that dealing with the estate agent was something that we didn't give an enormous amount of thought before but which we soon realised was pretty important and not quite as simple as we might have imagined.
Having previously rented properties I had been used to some dealings with agents. Like most tenants, I think it's fair to say that many of my experiences with estate agents had been pretty negative. It had always been clear to me that agents represented the landlord, rather than the tenant.
When it comes to buying a house, the situation is strangely similar! Never lose sight of the fact that the agent is essentially working on behalf of the seller rather than the buyer.
When you enter an estate agents office you'll quickly be asked what sort of properties you're looking for. As part of this conversation, you'll be asked how much money you are looking to spend. I'd advise giving quite a wide range of prices at this point. The reason being is that if you provide very exact details of your upper spending limit then it may count against you when you come to negotiating a price later in the process.
The other thing to be aware of is estate agents "tricks of the trade". Some will attempt to arrange a mortgage on your behalf. Be careful on any such arrangements - they may be in the financial interests of the estate agent rather than yourself.
It's also worth checking on anything that is said to you by an agent that you're not sure of. If you aren't very clear on the geography on an area then make sure that you buy a decent map. If you take an estate agent's advice on how close a property is to amenities and facilities then you do so at your own risk - it's definitely better to check everything yourself.
Once you have a mortgage agreed in principle you can approach estate agents with more confidence. You'll also be able to avoid getting offered mortgages direct, as is the case with a number of agents.
See Also:
First Time Buyers, Finding Estate Agents, Winchester Estate Agents