A guide to buying
What are you looking - The first requirement is for you to register your details and property specifications with one of the team. Once registered, you are then able to receive details from us directly, via the communication route that best suits you. Many of our properties are sold to our database before they even have time to reach the internet, so to get the best new properties first register with us.
Know your budget - With buying a property you need to know your budget and it is important to seek advice on how much you can borrow from a mortgage advisor including, the likely deposit size you will need and what are the associated costs of purchasing. Most lenders will issue an AIP (Agreement in Principle) which helps qualify you as a buyer providing proof of funds.
Start looking – Its important to take notes, what you liked, what you didn’t and any questions you want to ask our team as they will be happy to help.
Found the one - Once you have found a property you wish to purchase, the next step is to make an offer which will be submitted to the vendor for their consideration immediately both verbally and in writing. You will then enter into negotiations until such a time an agreement is met, and a sale can be agreed subject to contract.
Get down to business - Once your offer has been accepted, if a mortgage is required you will need to inform your advisor /lender and complete a full application for a mortgage. You will also need to instruct a solicitor to act on your behalf who will handle all legal requirements of your purchase known as “property conveyancing”.
The Survey – Your lender will carry out a Mortgage Valuation before a mortgage offer can be issued to ensure the property is a suitable security for the loan. If your lender does not provide a survey it is recommended to have one. More information can be found on our Survey & Valuation page
The Searches - These are paid for by you as the purchaser and conducted by your solicitor. Their purpose is to ascertain if there have been any planning consents previously granted on the property or if there are any other local issues in the immediate areas surrounding the property which may have an impact on the purchase. In most instances, the search will also include an Environmental and Drainage search. A mortgage company will generally require all these searches, however even if purchasing without a mortgage, we would still recommend that you have the searches carried out, to ensure you have all the information that may affect the property before concluding the transaction.
The Draft Contract – This is drawn up by the seller’s solicitor and is forwarded to your solicitor for consideration. The contract details the parties involved in the transaction, the price agreed and all the relevant legal documentation on the property. Your solicitor will read through the content before asking any queries/questions they may have via the seller's solicitors about the legal title.
Almost there - Once the Lender is in possession of the Mortgage Valuation/Survey Report and, subject to the findings of this report and provided all references and checks have been conducted satisfactorily, the Lender will send a formal mortgage offer to you and your solicitor. The document is then signed and returned, and funds requested by your solicitor once a completion date is agreed.
It’s time to complete – exchange of contracts and completion is agreed mutually, this can be simultaneous on the same day or with an agreed time frame between to suit all parties.
Congratulations! You are now the owner of your new home!
