Arrange to meet with your local bank manager to find out how much you can afford to borrow and get an agreement in principle, then shop around for better rates, banks are very much open for business, whilst requirements compared to years gone by are more stringent. There are very competitive mortgage packages currently available in the market.
Arrange an appointment to speak with Michael and he’ll advise you what to expect when buying a property. In the meeting, he will guide you through the ten step process whilst also trying to determine what you require in a home.
Decide what you require in a property, what are the “must haves” the features you will not compromise on and what are not as important, have a general idea to what your are looking for will assist us in sourcing suitable properties, in a shorter time frame. We will keep in touch on a regular basis, keeping you informed of new instructions and changes in the market
Arrange to view as many properties as possible, within reason, use the process of elimination and gradually narrow down your short-list. Don’t fall in to the trap by waiting for the “perfect property” because there’s no such thing! You’ll have to compromise on something but hopefully not one of your “must haves”. We will keep you informed of activity on all properties on you short-list so you don’t miss out on “the one”
If you are nearing offer stage, it is important to have a solicitor at the ready. Ensure that the solicitor you chose has experience in property sales and is accessible and efficient. We can recommend a number of tried and tested solicitors who have a proven track record of delivering exceptional service.
This is when it gets exciting, we will ensure that, when presenting your offer, it is as strong as possible by including a much information as possible which should include, a figure, copy of loan offer, conditions attached, time frames etc. This will demonstrate to the vendor how serious you are and remember that there are no legal obligations at this point on either side until contracts are exchanged
Once your offer is accepted, you will need to place a booking deposit down to secure the property. Then Memorandums of sale are sent to the vendor’s solicitor containing the details and conditions of the sale. A copy is also sent to you and your solicitor. You will now need to instruct your mortgage broker to proceed with your application.
We always recommend instructing an engineer to carry out a structural survey on the property, if you require, we can recommend a surveyor to assist you in this department.
We pride ourselves on meticulous file progression, the first two weeks after offer acceptance are curtail, we will be in constant communication with both sets of solicitors to ensure the process runs speedily and smoothly
As part of the conveyancing process your solicitor will do the following:
We will assist your solicitor and negotiate throughout the process, keeping you informed every step of the way.
Your mortgage provider will instructed an independent valuer to carry out a valuation on the property. The official loan offer is then sent to your solicitor
Once your solicitor is satisfied that all queries have been answered, confirms that title documents are in order and is in possession of your loan offer. Then both parties will sign contracts and exchange. The buyer will also pay the balance of 10% deposit. The completion date will need to be agreed by both parties by the point of exchange. Upon exchange you are legally committed to purchasing the property.
Completion is when the balance of monies (usually 90%) are transferred from your solicitor to the seller’s solicitor’s account. We will release the keys once the money has cleared in the seller’s account.
Congratulations, you are now a home owner!