The following is a step-by-step guide to the process of buying your property. If you are either buying for the first time, or if you have purchased many times before, you may find it helpful as a refresher.
To do this you can call us, visit our office, or register through our website. The more information you give us about the type of property you are looking for, the more accurately we can help find the right property for you.
With a clear understanding of your requirements we will access all properties that match your criteria. Full details of this selection will be sent to you. These can also be printed from this website. However, in order to secure a property, we recommend an early viewing.
It is advisable to get a mortgage agreed in principle as early as possible, as this will speed up your mortgage application. Our recommended broker, has access to every mortgage on the market and, unlike most brokers, they won't charge you commission. Their advice is free.
We conduct appointments at times during office hours which are Monday to Friday 9am to 6pm, Saturday 10am to 4pm (some vendors will allow evening and Sunday viewings which can be arranged with at least 48 hours notice).
Once you've identified a suitable property, we'll put your offer forward to the seller both verbally and in the form of an offer letter. Any offer is subject to a contract being signed and at this stage there are no legal obligations for the buyer to buy, or for the seller to sell, until the contract is signed.
A solicitor will be required to handle the legal paperwork involved (conveyance). It is preferable to use a solicitor who knows the area that you're moving to and specialises in conveyancing. We can recommend a selection whom we trust to provide good advice and value.
Once your offer is accepted, you will need to instruct your solicitor to proceed immediately. Always ensure that exchange and completion dates are agreed at this stage. This is also the time to instruct your mortgage broker to proceed with your mortgage application and make arrangements for a survey.
This is drawn up by the seller's solicitor and sent to your solicitor, who will raise some preliminary enquiries and make a Land Registry search.
Your solicitor will submit a local authority search to the local borough council. This will reveal, for example, planning consents granted for the property and other local issues.
A survey is carried out by a surveyor on behalf of the mortgage lender to check for any structural problems and advise on the property's value.
Once results of the local search and answers to the preliminary enquiries are received, the draft contract is approved by your solicitor providing there are no further enquiries.
This document will be sent to your solicitor for your signature. Once signed and returned your mortgage is in place and you are ready to exchange contracts.
Now the contract is signed by both buyer and seller, and the deposit (usually between 5% - 10% of the purchase price) is either telegraphically transferred or paid by the buyer's solicitor, by banker's draft. The completion date is set at this stage.
This is generally set anything between a few days and a few weeks after exchange of contracts, depending on the sellers and your personal requirements. Residual monies from your mortgage company (usually about 90%) are now transferred from your lawyer's to the seller's lawyer's account. Finally Congratulations, you are now the legal owner of your new home!