WHAT TO DO NEXT
To enable you to unravel the complexities of buying your home, we have set out below an overview of the various procedures involved.
REGISTRATION
The first step is for you to register your details and property specifications with us. This can be achieved in a number of ways, either pop in and visit us in the office, phone us and speak to one of our sales team and explain what you are looking for, email us your thoughts or click here to simply complete our registration form and ensure you are notified of new property first.
Once registered, you are then in a position to receive details from us directly in person, via mail or email or download and print these out from our website.
VIEWING
Our friendly team are available to arrange those all important viewings of your selected properties. Our offices are open Monday to Friday from 9am to 6pm, Saturdays from 9am to 4pm and Sundays by appointment. Please contact us to arrange a mutually convenient time on 01923 773 616.
MORTGAGE
In order to speed up your house buying process, it is advisable wherever possible, to get a mortgage agreed in principle before any final decision on your new property is made. This has the advantage of providing you with a clear indication of what is affordable and the fact that you have a mortgage agreed in principle is also attractive to sellers. You can also use the online mortgage calculator for approximate guidelines to affordability, click here.
MAKING YOUR OFFER
Once you have located your ideal property, your offer will be submitted by us to the vendor for their consideration. This is done both verbally and in writing.
NB: Please note that all offers are “subject to contract” and therefore neither party is legally bound until the contract is actually signed.
ACCEPTED OFFER/INSTRUCTING SOLICITORS
As soon as your offer has been accepted by the vendor, you should instruct a solicitor to act on your behalf. Your solicitor will handle all legal requirements of your purchase (property conveyancing).
At this point, you also need to formally proceed with your mortgage application and instruct your mortgage consultant/broker accordingly.
SURVEY
The next step is to obtain a Mortgage Valuation or Survey if required. Please see our detailed section on Surveys for further information to assist you at this stage.
SEARCHES
These are conducted by the Buyer’s Solicitor who submits a local authority search to the local borough council. Its purpose is to ascertain if there is any planning consented previously granted on the property or if there are any other local issues which may have an impact on the purchase. In some instances, the search may also include an Environmental and Drainage search.
DRAFT CONTRACTS
The draft contract is drawn up by the Seller’s Solicitor and is forwarded to the Buyer’s Solicitor for consideration. Any additional queries or questions will be asked and answered and the contract amended accordingly, subject to final approval.
MORTGAGE OFFER
The Lender is now in possession of the Mortgage Valuation survey and, subject to the findings of this report; receipt/approval of the mortgage application and provided all references and checks have been conducted satisfactorily, the Lender will send a formal mortgage offer to the Buyer and their Solicitor. The document is then signed and returned and funds requested by the Buyer’s Solicitor.
EXCHANGE OF CONTRACTS
Once the contract has been signed by both parties, a deposit (normally a small percentage of the purchase price) is paid by either bank transfer or banker’s draft. At this stage, the parties agree on a date for completion.
COMPLETION
Completion usually follows a few days or weeks after exchange of contracts. The balance of the purchase price is transferred by the buyer’s solicitor to the seller’s solicitor and the keys released. CONGRATULATIONS - YOU ARE NOW THE PROUD OWNER OF YOUR NEW HOME!