Buying a home overseas is one of the biggest purchases most of us will ever make. At a time when you’re spending a considerable sum of money, forking out for a building survey – which isn’t mandatory in the UK – might seem like another expense you could do without.
As one of the most vibrant and iconic cities in the world, London’s popularity with property buyers is guaranteed. Add high salaries, a lack of development space, strict planning laws and a penchant for a garden to this demand and it’s easy to see why property prices are so high.
In many countries auctions are the main way of buying property. In the UK, however, despite the TV show Homes Under the Hammer being a mainstay of daytime TV, it is still relatively rare. For buyers from overseas, property auctions can make particular sense.
Buying property in the UK has its ups and downs. One upside is the low cost, but the downside is the nightmare of gazumping. Here is how you normally buy a home via an estate agent in the UK.
