How the Acquisition Process Works

A typical acquisition process consists of the following steps:

  • The client will provide us with their requirements such as location, type and style of the property, number of bedrooms and other facilities, as well as the desired pricing range.
  • We will agree the timeline for the acquisition and the method for reporting back to them.
  • We will source properties through our network of partners and by utilising our customised software application that will narrow down the list of properties available on the open market.
  • We will pre-view the initial selection of properties on their behalf. We will report our findings back to the client and then compile a shortlist of suitable properties.
  • We will further comment on costs relating to property ownership in the UK relating to the type of tenure (short and long leases vs freehold), ground rents, service charges and other matters that may affect the future value of the property.
  • The client will view the shortlist of properties we identified and will give us instruction to proceed with one or two selected properties, subject to the price offer being acceptable to the seller. We will make an offer and conduct negotiations of the purchase together with the client or on their behalf.
  • We will comment on market conditions in the area of purchase and provide financial appraisal of the investment potential and arrange for valuation and property survey if needed.
  • We will recommend solicitors for conveyancing purposes, as well as mortgage lenders and insurers if required. Barnes & Hogan will work closely with the client or on their behalf with all parties in the transaction to enable a smooth completion of the purchase.

In summary, you, as a client of the firm, will decide with regard to how much involvement you would like to have in the formalities. In many cases, our clients' presence is limited merely to viewing the shortlist of properties and selecting one, with the rest of the process being fully co-ordinated by Barnes & Hogan.