5 Steps to buying a home
1. Initial Steps
- Let us know as soon as your offer is accepted and provide our contact details to your estate agent who will then send us details of the property and the sellers' solicitors.
- We will send you our initial pack which will include our costs estimate and general information to assist you.
- If you are buying with the aid of finance, speak to your lender or financial advisor so that your mortgage offer is issued as early as possible.
- Consider what type of survey you require (full structural or homebuyers). Information to assist you with your decision is included in our initial pack.
2. Legal Aspects
- We will let you know as soon as we receive paperwork from the sellers' solicitors.
- We will submit all the necessary searches on your behalf.
- We will review the title of the property and raise necessary enquiries.
- Once we have received all the necessary information, we will send a report letter to you with information relating to the transaction. The legal documents will also be sent to you for your signature in readiness for exchange of contracts.
3. Exchange of Contracts
- Once we have received replies to all of our enquiries and searches, your mortgage offer has been received and you have returned your signed documents and deposit - we will be in a position to exchange.
- On exchange of contracts the moving (completion) date is fixed (this is the date you will become the legal owner of the property). You will then be legally bound to purchase the property on the agreed completion date.
- You will need to put your buildings insurance on risk on exchange.
- Prior to the completion date, we will request the mortgage money from your lender and will have sent you a completion statement showing the sum required from you to complete. This sum must be received by the working day before completion to ensure there is no delay in completion taking place.
- We will send the money to the sellers' solicitors and will advise you as soon as completion has taken place so that you can collect the keys from the Estate Agents.
5. Post Completion
- We will pay stamp duty (where applicable) and will register the transfer of ownership of the property at the Land Registry. We will send you confirmation when this has been finalised.