Property to Buy
Buy a property
A Step-by-step guide to buying a property
Buying property can be complicated and daunting. This step-by-step guide has been designed to guide you through the process.
Step 1 - Arranging a mortgage.
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, Moneysprite, has access to the entire market, as well as exclusive deals and rates to help find you the best mortgage available.
Step 2 - Register your interest.
The first step to finding the right property is to register with us either by calling us on 01256 321777 or by visiting our office in the Town Centre where you can discuss your requirements with one of our local agents. If you are short of time, you can register online by clicking here.
Step 3 - Finding the right property.
Once we have a clear understanding of your requirements you will receive a selection of properties that match your criteria. We will also keep you constantly up-to-date via email and SMS alerts within 1 hour of the latest properties becoming available.
Step 4 - The key to successful viewings.
On the day of the viewing a member of staff will meet you at the property, accompanying you throughout your visit, ensuring that we are on hand at all times to answer any questions you may have or to advise you where necessary.
Step 5 - Making an offer.
Once you have found a suitable property we will put your offer forward to the seller both verbally and in writing stating any special conditions of the offer. You may need to demonstrate, if requested, 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.
Step 6 - Instructing a solicitor.
The successful purchase of a property can be reliant on the instruction of an efficient and experienced solicitor. It is a good idea to use a solicitor who knows the area that you're moving to and specialises in conveyancing. We have a selection of tried and tested solicitors that are experts in property who we would be happy to recommend.
Step 7 - Offer agreed.
Once your offer is accepted we will do the following:
•Prepare a memorandum of sale
•Write to all parties to confirm the agreed price
•Ask you to confirm your solicitor's and mortgage broker's details
You will now need to instruct your solicitor to proceed with the conveyancing process and your mortgage broker to proceed with your application.
Step 8 - Conveyancing.
As part of the conveyancing process your solicitor will do the following:
•Raise any enquiries on receipt of the draft contract from the seller's solicitor
•Request their own local searches
•Liaise with your Mortgage Lender (where necessary).
•Agree on a date for exchange of contracts
We will assist your solicitor and negotiate throughout the process, keeping you informed every step of the way.
Step 9 - Survey and mortgage offer.
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 you will need to sign before it is returned.
There are no legal obligations until contracts are signed.
Step 10 - 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 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.
Step 11 - Completion
Completion is when the residual monies 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!
