Home & Property Buyers Guide
Working out a budget
Before you begin your property search, it is advisable to arrange your finances and, if required, have a mortgage agreed in principle. This will confirm how much money you will have to fund the purchase, which will ultimately influence your property search.
Our recommended Mortgage Broker has access to the entire market, as well as exclusive deals and rates to help find you the best mortgage available.
Register and begin your search
Once we have a clear understanding of your requirements you will receive a selection of properties that match your criteria. We can also keep you constantly up-to-date via email and SMS alerts when the latest properties become available.
In order to secure a property we recommend an early viewing appointment. Take some time beforehand to consider questions you may have and while reviewing, its a good idea to take a note of the key features. It’s a big decision but you will know when the property feels right.
Making an offer
Once you have identified a suitable property we will put your offer forward to the seller both verbally and in writing stating any special conditions that may apply. You will be required demonstrate that you are able to proceed (e.g. provide evidence of your mortgage agreed in principle).
There are no legal obligations on either side until contracts are signed.
Once your offer has been accepted you will be required to confirm your solicitor’s details and complete your mortgage application.
When your offer is accepted we will do the following:
- Prepare a Memorandum of Sale
- Write to all parties to confirm the agreed price
An efficient solicitor and mortgage advisor can save you months in the conveyancing process.
A survey of the property will be booked by a surveyor on behalf of the mortgage lender to identify any structural problems and advise on the property’s value.
After the Mortgage Valuation Report is received, a formal mortgage offer will be sent to you and your solicitor which will need to be signed by you before it is returned.
At this point it’s a bit of a waiting game with regards to the conveyancing process, but we are on hand with regular updates.
As part of the conveyancing process, your solicitor will do the
- Raise any preliminary enquiries on receipt of the draft contract from the Seller’s solicitor. This will include fixtures and fittings to be included in the sale.
- Request their own local searches.
- Ask you to sign and return the Mortgage Valuation Report.
- The mortgage is in place when your Mortgage Broker receives your Mortgage Offer.
- Agree a date for exchange of contracts and propose a date for completion.
There are no legal obligations until contracts are signed.
Exchange of contracts
Exchange of contracts occurs when all enquiries have been confirmed and agreed.
Once the contract has been signed by both parties the deposit (usually 10% of the purchase price) will be telegraphically transferred or paid in the form of a banker’s draft from your solicitor to the seller’s solicitor.
The completion date is then set by mutual agreement.
Completion is when the residual monies (usually 90%) are transferred from your solicitor to the seller’s solicitor’s account. We will release the keys once the money has cleared in the seller’s account.
Congratulations, you are now the legal owner of your new home!
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