Using a Buyer’s Agent for your Property Purchase
Utilising the services of a buying agent can greatly benefit property buyers who seek clarity and confidence in their home acquisition process.
While it is widely acknowledged that estate agents assist sellers in obtaining the best price for their property in a timely manner, the advantages of employing a buyer’s agent are often overlooked. Buying a home is typically the most significant individual purchase for many people, yet it remains peculiar that in the UK, most properties are bought without professional representation for the buyer. This leaves buyers to navigate the process on their own, without the guidance and expertise of professional property finders and skilled negotiators. Simon Kyriacou offers comprehensive buying agent services throughout the UK.
Should I use a buyer’s agent
Many property purchasers may not have considered using a buyers agent before, so the obvious question posed is “what can a buyers agent do that I can not do by myself?”
A sensible starting point is to consider the dynamics of a property transaction. Estate agents only look after a seller’s best interests – a fact often overlooked by house buyers. A buyer’s agent or buyer’s advocate is a property expert who solely works for the property buyer.
A buyers agent provides advice and support at the very start of the process until the sale completes. They help with all aspects of finding the best property location, including advising on local schools, transport links and access to local amenities. Their knowledge of the local property market can prove invaluable in finding the best homes and their links to local estate agents mean they can often find off-market properties before they are officially listed for sale.
Buyer’s agents do much more than helping buyers with their property search. Their local knowledge and experience can prove invaluable in negotiating the best purchase price. Buyer’s agents can also help the home buying process to proceed more smoothly using their contacts to find the best surveyors, solicitors, and removals companies.
Fee Structures
We offer a wide range of property services, each with their own fee charging structures. On a number of occasions our services can become self-funding through the discounts we may be able to achieve, through expert negotiation when agreeing a transaction for a client. The overview below explains the key elements of our fee structures, but please do contact us for further information.
Purchase
Retaining fee – Payable on instruction prior to the commencement of the search. Retaining fees are fully deductible from the final success fee.
Search length – Nine months.
Success fee – The success fee is calculated as a percentage of the final purchase price.
Payable – Upon legal completion or twenty one days after exchange of contracts, whichever is sooner.
Rental
Retaining fee – Payable upon instruction prior to the commencement of the search.
Search Length – Dependent on requirements.
Success fee – 10% of annual rent.
Payable – Upon signing rental agreement.
Overseeing sales
Retaining fee – Payable upon instruction prior to the commencement of the search. Retaining fees are fully deductible from the final success fee.
Search length – Nine months.
Success fee – A percentage of the final sale price.
Payable – Upon exchange of contracts.