A guide to buying


Register your details with us!

It is well worth-while registering your details with us so that we can keep in touch with the latest new instutions to the market.  It may be that we could call you before the property is visible on the property portals!  Register your details here…. (Hyperlink to register for buying page)

 

Viewings

Where possible, we will accommodate your requested viewings at the earliest possible opportunity.  We would recommend booking your viewings at least 2 days in advance to ensure that you are getting the time required to take a proper look!  Where possible, we will allocate 30-45 minutes per viewing, giving you a good amount of time to scope the suitability for you.

 

Like what you see and want to make an offer?

Every property and the vendors situation is different, so negotiating a sale is different for all homes.  We would recommend that paying particular attention to the most reliable source of information regarding the housing market, which is the Land Registry House Price Index (hyperlink), this is much more accurate than other sources such as the major property portals as registers actual sold prices rather than asking prices.  To make an offer, simply phone the office and speak to one our representatives, we will be delighted to take a little bit more information to get the ball rolling!

 

My offer has been accepted, what’s next?

Congratulations, your offer has been accepted, you may be wandering what happens next!  We will now require a few things… Firstly, we will ask for proof of identity in order to comply with the Anti-Money Laundering Regulations Act 2007, we will ask you to bring this to the office at the earliest opportunity.  We will then start talking about conveyancing, we offer a range of conveyancing solutions including no move, no legal fee options.  For a FREE conveyancing quotation, please fill in this form (hyperlink to conveyancing page).  Finally, we will talk about the financing of the purchase, if you are buying with a mortgage don’t forget to arrange a chat with Mortgages Direct (hyperlink to mortgages page)

 

Progressing the sale

Where possible, we will stay in touch throughout the buying process to ensure that all stages are being completed.  The first stage will involve communication between the estate agent, vendors solicitor and your solicitor.  As a buyer, the first steps are to arrange your survey or mortgage valuation, followed by paying for the search package.  It’s these two elements that can take the longest, so it is strongly recommended that these are taken care of within the opening days of the sale.  Once the solicitors are satisfied with all answers to any raised enquiries, they will start to talk about completion dates.  Once all have agreed on dates and contracts have been signed, your solicitor will then request the payment of a deposit.  The solicitors will then exchange contracts, which is the point of no return, and usually there will be a week to go until the agreed completion date.  It is at exchange of contracts that you need to make arrangements for your removals.  For a FREE removal quotation, please click here (hyperlink to removals page).

 

It's moving day, what’s left to do?

Congratulations with the purchase of your new home!  Get in touch with the energy suppliers for your new property and submit your own meter readings.  In the evening, sit down on the living room floor with a beer or glass of wine and a takeaway and enjoy!

 

Jargon words

IFA (independent financial advisor) – This is someone or a company that deals with a wide range of financial products including mortgages, insurance, wills etc.

AIP (Agreement in Principle) – This is a document stating that an amount of money has been agreed to be loaned, subject to the submission of the information that has been mentioned already, and mortgage valuation.  For example, the lender will want to see actual pay slips and bank statements along with a surveyors report for the property.

Survey or valuation – There is a slight difference between these two.  There are generally three levels of survey, these are a straight forward mortgage valuation, a homebuyers report which is more in depth than the valuation or a full building survey which is an intense survey aimed at properties requiring major improvement.

Mortgage Offer – This is when all of the above has been satisfied by the lender and they have agreed to a loan of money for a specific property.  This is much different to an Agreement in Principle.

Searches – A conveyancer will ask you for money for a ‘search pack’.  These searches are done by third parties to locate various things such as waterways near to the property, flood risks, any proposed developments close-by etc for your protection.  The mortgage lender will need to be satisfied by the results of the searches in order to publish a mortgage offer.

Exchange of contracts – This is when the conveyancers are satisfied that all information has been gathered and things can proceed to a completion.  The conveyancer will have your signed contract and deposit money, and they will ‘exchange contracts’ meaning that no-one can now back out of the sale.  There is usually a week in between exchange of contracts and completion, but this can be a longer period of time upon request prior to exchange.

Completion – this is when you can have the keys, once the money has been received by the vendors solicitor.