4. Put in an offer
Proceeding with an offer is a huge step. You won’t be doing it on your own though. We’ll be with you at every stage, offering advice on how to proceed.
In considering your offer, the vendor will want to know more about you as a buyer. They’ll be interested to know details about your buying position, timescales, what you want included as part of the purchase and how you intend to fund the purchase.
Once a sale is agreed, we will be the main point of communication between all parties, including solicitors. We will keep you updated every step of the way.
5. Instruct a solicitor and arrange a survey
The successful purchase of a property can be reliant on the use of a good solicitor. You should look to appoint one that has experience in the area you have chosen to buy, as well as knowledge of the local property market. This can be invaluable if you are thinking about extending the property.
Your solicitor will undertake all conveyancing work on your behalf such as requesting searches and agreeing on a date for exchange of contracts.
A survey of the property will normally be arranged by your mortgage lender to identify any structural problems and advise on the property’s market value. If you do not require a mortgage, the responsibility for organising a survey falls on you. We can advise you on which type of survey would be most suitable and recommend some reputable local surveyors if required.
6. Exchange contracts
When all enquiries have been satisfied, a binding contract will be agreed, this is called the ‘exchange of contracts’.
Once the contract has been signed by both parties the deposit (on average this is 10% of the purchase price) will be transferred from your solicitor to the seller’s solicitor. The completion date is then set by mutual agreement.
7. Completion and move
This is the final step before you can get the keys to your new property. Completion is when the remainder of the funds clear from your solicitor’s account to the vendor’s solicitor’s account. This is when the keys are released, and the property is officially yours. We can hear champagne corks popping already!
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