Buying Guide
Before
01
Know Your Budget and What Kind of Home You Want

Before buying a property it’s important you know how much you want to spend and exactly what kind of home you’re looking for. For instance, is there a particular part of town you want to live in? Are you looking for a specific amount of bedrooms? These are the kinds of key points that will narrow down your search, helping you to find the property that’s exactly right for you.

02
Start Your Search

After you’ve decided on your budget and have a good idea of what you’re looking for, a member of the Crown Home Buying team will recommend a selection of homes and developments that best suit your requirements. They will provide all the relevant information on each property, allowing you to come to a decision that absolutely fits your specific criteria.

03
Select Properties

Once they understand your needs, your budget and exactly what you’re looking for, our team will create a detailed real-estate handbook for you to reference. This will include detailed information about new developments, property rights, local amenities, schools, transportation links and estimated rents so as to help you make the decisions that are right for you. 

04
Viewings

On site viewings: If you’re travelling to the UK to view a property or development, do let us know. We’d be happy to give you a guided tour, including the surrounding area, so as to give you a real insight into what’s on offer in that particular neighbourhood.

Video viewings: If you’re not in the UK, we can conduct a video call at each property or development, whilst showing you everything you need to know in regards to the surrounding area.   

05
Negotiation

After you choose your home and have ensured all the finances are in place, we will negotiate with the developer on your behalf, making sure you get the best possible deal and all discounts you’re entitled to. 

There are times when real estate prices can be negotiated with the developer. This discount rate is determined by the demand for the development, the type of apartment, the level of competition between buyers, and the current market conditions. 

06
Finalise Purchase and Pay the Deposit

Once you’ve decided on the property or properties you wish to purchase, you’ll need to make a reservation so they’re held for you. Ordinarily, a deposit of £500 or £1000 is required by the developer. This deposit will automatically be deducted from the down payment.

07
Entrust a Lawyer With the House Purchase

Unlike in China, buyers and sellers who are purchasing property in the UK will not have direct contact with each other. The entire transaction is instead conducted by the buyer and seller’s individual lawyers. This includes housing qualification surveys, approval of contracts, exchange of contracts and the transfer of real estate funds. This is the UK’s real estate model and one of the fundamental reasons British estate agents are so trusted by international buyers. With this in mind, we’re able to introduce you to a team of reputable and highly professional lawyers who’ll make your transaction their absolute priority. 

After
01
The Contract Exchange

Buying completed properties that are currently available. 

The time-limit for buying an existing UK property is quite short, and the entire home purchasing process is completed in 2 months. ‍

If You are Buying in Cash: As soon as you and your lawyer are satisfied with the results of the property survey, you are required to transfer a 10% down-payment to your lawyer. They will then exchange the contact with the developer’s lawyer within 21 days and agree on a final delivery date. This is usually within 2 weeks. The remaining 90% will be paid in exactly the same way on the delivery date. 

If You are Buying With a Loan: Buying with a bank loan means acquiring the first part of the loan before a booking is made. 
The payment time is the same as stated above.

 

Buying Off-plan Properties (Properties that won’t be available for a few years)  

If You are Buying in Cash: Purchasing off-plan properties in the UK means you are not required to pay the full price when the contract is exchanged. Depending on the specific project and expected time of delivery, a periodic payment plan is often used to buy an off-plan property. For example, within 21 days of a booking being made, a 10% down-payment is required. Once this happens, the contracts will be exchanged. The second payment is made 1-to-2 years after the contact has been exchanged. When the third payment of 5-to-10% is made, the final payment of 70-to-80% is then required at the time of delivery. This means any pressures caused by the currency exchange can be mitigated in the short term. 

If You are Buying With a Loan: We’d advise securing a loan 6-to-12 months before delivery, to ensure there’s plenty of time for the process to go as smoothly as possible.

02
Mortgages

Should you require a mortgage, we’re happy to introduce you to a prominent UK bank (HSBC, Bank of China London Branch, UOB, ect.)  The loan given will depend on your current financial situation, and banks may ask for paperwork. For instance, a personal tax-certificate or proof of payroll. 

03
Final Steps

After the remaining payment is settled, the lawyer will then complete the transaction and you will be able to collect your keys. The lawyer will then pay tax-stamp on your behalf, register the property and transfer the rights to you. Your real-estate certificate will be available within 3-to-6 months.

04
Follow Up Service

After the transaction is completed, we provide our clients with a comprehensive follow-up service. This includes key collection, check-in, handover, an inspection of the house, furnishing, leasing of the property, property management and a resale service.  

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