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Let's Talk - The Stages of Buying a Property

Let's Talk the Stages of Buying a Property

These are the stages you have to go through to get your keys!

Here is a helpful timeline for the process any property buyer will have to go through.

If you are buying a property you can use this guide as a check sheet, save it and give it a go on your next purchase!

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1 May 2021

Source Director

8 Feb 2022 Source: Director

30 Jun 2021 Source: Director

31 May 2021 Source: Director

4 Mar 2021 Source: Director

Lockdown 3.0 and Update on Viewing Guidelines

1 Jan 2021 Source: Director

Refundable Holding deposit - Capped at 1 weeks rent per tenancy

Security Deposit - Capped at 5 weeks rent for annual rental under £50,000, or 6 weeks rent for annual rental over £50,000

Rent - The agreed monthly rent

Changes to tenancy - Capped at £50 inc VAT

Early termination charge - Not exceeding the landlord’s financial losses

Late payment of rent - Interest of 3% above BoE base rate for each day the rent is late, once it is 14 days overdue

Replacement keys - Reasonable costs or give the tenant the option to purchase themselves

Utilities, council tax, communication services, TV Licence etc Tenants own responsibility unless otherwise stated in contract

Client Money Protection Scheme Membership details The law requires your membership details

Property Redress Scheme Membership details The law requires your membership details