Are Your Finances in Order?
A common mistake that people make is to start looking for a new home without speaking to a mortgage consultant first. If a mortgage is required, it is wise to have a mortgage arranged in principle before you start your search. Knowing what you can afford will also help you to narrow your search and give you a considerable degree of confidence. This will also show prospective sellers that you are serious in your attempt to purchase a new home. If you would like to speak to our recommended broker, then please speak to a member of the Sure Sales team. Moving to a new house is a costly exercise and you will need to factor in varying costs when you begin; such as stamp duty, solicitors costs, removals, estate agents fees and much more.
If you have a property to Sell
Before you start the search for your next home, it is vitally important to make sure you are in a proceedable position. If you have a property to sell, in our opinion the first step you should take is to secure a purchaser for your own property. To do this you will need to arrange a market appraisal with your local expert agent. Please arrange a valuation with Sure Sales & Lettings by calling us on 01442 252579.
Why is it important to have secured a buyer for your own property before you start your search? In this highly competitive market, you need to put yourself in the strongest possible position. If you see the home of your dreams but have not placed your own on the market, then you will be seen in the eyes of sellers and their agents as being in a weak position, as you will need to sell your home before you can start the process. It is common place to be competing with many other purchasers who are in strong positions and it is highly likely you will end up losing the property because of this.
Finding a property
Whereabouts are you looking? What are you looking for? This can alter during the process, however, it is a good idea to do some research into areas, schools, transport links etc before you start the search. Next, you need to register, to register with Sure Sales & Lettings please clicking here or register by phone on 01442 252579.
Once we have a clear understanding of your requirements, you will receive a selection of properties that match your criteria. We will also keep you up-to-date with new properties that come on to the market.
Viewings
Once we find something that piques your interest, it is time to start viewing. Let us know which property you wish to view, and we will arrange a viewing at the earliest convenient time.
Sure sales & Lettings trained, and experienced staff are on hand to accompany viewings and will be able to provide insight on the local area and the property itself.
Make your offer
Let us know your offer, and we’ll contact the seller to begin negotiations. Consider things like your available funds — are you in a chain? Your timescales, too: can you do the deal at a time that suits them too? Once an offer has been placed you may be asked to provide additions documentation. This is normal practice as all estate agents must conform to the Money Laundering Regulations, and doing thorough checks is standard practice.
What documents will I be asked for?
Proof of your identity, proof of your current address and proof of purchase funds.
It is considered best practice is to keep evidence of where all the funds going towards your property purchase have come from. You will also be asked by your solicitor or conveyancer and your mortgage provider once the ball is rolling on your property purchase to provide the same documentation.
Once your offer is accepted, we will: prepare a memorandum of sale, write to all parties to confirm the agreed price, ask you to provide your solicitor’s details (we can provide recommendations) and mortgage broker’s details. You will then need to instruct your solicitor to proceed with the conveyancing process and your mortgage broker to proceed with your application.
Conveyancing
When your offer is accepted, the vendor’s solicitor/conveyancer will prepare a Contract of Sale. Your solicitor will examine the contract, and raise any queries based on the title deeds and related property matters. When your Solicitor has replies to their enquiries, a completed satisfactory local search, a copy of a mortgage offer, a signed contract and a deposit, they can then proceed to Exchange of Contracts. We will be there every step of the way to assist and answer any questions that you may have.
Survey and mortgage offer
A survey of the property will be booked by a surveyor on behalf of the mortgage lender to identify any structural problems and advise on the property’s value. After the mortgage valuation report is received, a formal mortgage offer will be sent to you and your solicitor which you will need to sign before it is returned.
Exchange of contracts
This formal exchange agrees the terms of the sale and makes them legally binding. You’ll need to finalise your mortgage, get a final report from your solicitor, send them your deposit and sign the contract. The completion date is scheduled, usually one-two weeks after exchange.
Completion
Completion is when the funds are transferred from your solicitor to the seller’s solicitor’s account. We will release the keys to you once the money has cleared in the seller’s account. Congratulations, you are now the legal owner of your new home!
