A step-by-step property buying guide
Arranging your mortgage
Before you begin your property search, it is advisable to arrange your finances and, if required, have a mortgage agreed in principle. This will confirm how much money you will have to fund the purchase, which will ultimately influence your property search.
Register your interest
The first step to finding the right property is to register with us either by calling us on 020 8672 0439 or visiting our office where you can discuss your property requirements with one of our local agents. You can also register your interest about a specific property online if you are short of time.
Finding the right property
Once we have a clear understanding of your requirements you will receive a selection of properties that match your criteria. We can also keep you constantly up-to-date via email and SMS alerts when the latest properties become available.
We’re open at times to suit you, convenient for viewing after work and at weekends:
Our office is open 10am-6:30pm Monday to Friday and 10am-4pm Saturdays.
Instructing a solicitor
The successful purchase of a property can be reliant on the instruction of an efficient and experienced solicitor. It is a good idea to use a solicitor who knows the area that you’re moving to and specialises in conveyancing.
We have a selection of tried and tested solicitors that are experts in property who we would be happy to recommend.
Making an offer
Once you have identified a suitable property we will put your offer forward to the seller both verbally and in writing stating any special conditions of the offer. You may need to demonstrate, if requested, that you are able to proceed (e.g. provide evidence of your mortgage agreed in principle).
Once your offer is accepted we will do the following:
- Prepare a memorandum of sale
- Write to all parties to confirm the agreed price
- Ask you to confirm your solicitor’s and mortgage broker’s details
You will now need to instruct your solicitor to proceed with the conveyancing process and your mortgage broker to proceed with your application.
As part of the conveyancing process your solicitor will do the following:
- Raise any enquiries on receipt of the draft contract from the seller’s solicitor
- Request their own local searches
- Refer to the information already provided in the seller’s Home Information Pack
- Agree on a date for exchange of contracts
We will assist your solicitor and negotiate throughout the process, keeping you informed every step of the way.
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
Exchange of contracts occurs when all enquiries have been confirmed and agreed.
Once the contract has been signed by both parties the deposit (usually 10% of the purchase price) will be telegraphically transferred or paid in the form of a banker’s draft from your solicitor to the seller’s solicitor.
The completion date is then set by mutual agreement.
Completion is when the residual 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.