Our step-by-step guide to buying property
Step 1 Register your interest
The first step is to register with us either by calling us on 020 7791 1678 or you can visit our office where you can discuss your property requirements with one of our local agents.
You can even register online if you are short of time.
Step 2 The search begins
With a clear understanding of your requirements you will receive a selection of properties that match your criteria.
You will then receive all relevant property information within a few days by post and email. This pack will include all contact details for your dedicated property negotiator, a selection of suitable property details and our latest property magazine for the area you are looking in.
In order to secure a property, we recommend an early viewing.
Step 3 Mortgage
It is advisable to get your finances, including your mortgage, agreed in principle as early as possible, as having to organise finances after you have found a property can result in losing out to another person who is ready to go.
Our recommended broker, has access to every mortgage on the market and can search the entire market to find you the best mortgage deals and rates.
Step 4 Viewings
We're open at times to suit you, convenient for viewing after work and at weekends:
43% of our viewings are carried out during evenings and weekends.
Our phone lines are open 8am to 8pm 7 days a week, while our offices are open 9am to 8pm Monday to Friday and 9am to 5pm Saturdays, Sundays and Bank Holidays.
Step 5 Making an offer
Once you've found a suitable property, we'll put your offer forward to the seller, both verbally and in writing. Any offer is subject to contracts being signed.
There are no legal obligations on either side until contracts are signed.
Step 6 Legal
A solicitor will be required to handle the legal paperwork involved (known as conveyancing).
It is preferable 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 transactions who we would be happy to recommend.
Step 7 Sale agreed
Once your offer is accepted, you will need to instruct your solicitor to proceed immediately.
At this stage it is a good idea to discuss exchange and completion dates.
This is also the time to instruct your mortgage broker to proceed with your mortgage application and make arrangements for a survey.
Step 8 Searches and Surveys
A draft contract is drawn up by the seller's solicitor and sent to your solicitor, who will raise some preliminary enquiries.
Your solicitor will either request their own necessary searches or will use the information already provided in the seller's Home Information Pack.
A survey of the property will also be booked by a surveyor on behalf of the mortgage lender to identify any structural problems and advise on the property's value.
Formal mortgage offer
This document will be sent to your solicitor for you to sign. Once signed and returned, your mortgage is in place and you are ready to exchange contracts.
Step 10 Exchange of contracts
The contract then needs to be signed by you and the seller.
The deposit (usually 10% of the purchase price) is telegraphically transferred or paid by the buyer's solicitor in the form of a banker's draft.
The completion date is then set.
Step 11 Completion
This is generally set a few days to a few weeks after exchange of contracts, depending on each party's personal requirements.
Residual monies (usually 90%) are now transferred from your solicitor to the seller's solicitor's account.
Congratulations, you are now the legal owner of your new home!
|
