BUYING

Step 1 | Finances and Solicitor

First thing to consider; what is your exact budget? If you require a mortgage to purchase your dream home we would suggest that you take into account any available cash that you have for a deposit and either seek professional, independent mortgage advice, or research yourself into which mortgage deals will best suit you, in your current situation.

Make sure you get a Agreement in Principle (AIP) from your lender as it will speed up the whole purchase process.

Costs to consider:

• Mortgage arrangement fee

• Stamp duty land tax

• Lender’s valuation fee

• Conveyancing

• Land Registry fee

• Surveys

• Removals

• Building and contents insurance

• Contingency fund (there are always unexpected costs along the way)

Find an experienced and efficient solicitor specialising in conveyancing as they will play a critical part in the purchase process.

Step 2 | Property Search

First step in finding the right property is to register with us by calling on 0203 633 4528 or completing Registration Form.

Once we have a clear understanding of your requirements we will provide you with the list of properties which match your criteria.

Important things for you to consider:

• Any service charge and ground rent;

• The number of years left on any lease (if it’s a leasehold property);

• The council tax band the property falls in;

• Any additional work property may require;

• Does the property have things like gas central heating, modern insulation and double glazing?

After the viewing, always give your agent honest feedback, that way we will understand your needs better.

Step 3 | Offer

When you find a suitable property we will put an offer forward to the vendor who will need to know following information:

• Your ‘offer price’ for the property

• How you propose to fund the purchase and if you require a mortgage whether your “agreement it principal” is ready

• Proposed timeframes

• Any additional inclusions such as: curtains, carpets, washing machine, sofas.

Don’t be surprised if your first offer is declined – that’s the name of the game and buying a property is all about negotiation.

Once your final offer is accepted we will:

• Ask you to provide us with your solicitor’s details;

• Inform all the parties in writing;

Step 4 | Conveyancing

A ‘Conveyancer’ is a legal specialist who will manage any negotiations to do with the purchase of the property on your behalf. They will:

• Request local searches

• Raise any enquiries with the seller's solicitor

• Agree on a date for exchange of contracts and completion.

We will help you and your solicitor and collaborate throughout the process, keeping you informed every step of the way.

Step 5 | Valuation and Mortgage Offer

The valuation/survey of the property is carried out in order to identify the structural condition and value of the property. It will be booked by a surveyor on behalf of the mortgage lender.

Step 6 | Exchange of Contracts

Once all the enquiries between both solicitors and your lender have been agreed and confirmed, the next step is to exchange contracts. Both parties (seller and purchaser) sign the contracts and the deposit (usually 10%-40%) will be transferred to the seller’s solicitor, from your solicitor. From this point you will be legally bound to buy the property.

The completion date will be set by mutual agreement.

Step 7 | Completion

On completion date your solicitor sends the funds (remaining 60%-90%) to the seller's solicitor. You will then receive both the transfer deeds and title deeds. We will release the keys to you once we receive confirmation of ‘clear funds’ from the seller.

Congratulations, the property is now yours!