James Alexander

Buying Process

  1. Enquire about a mortgage - Before you start to search for a property to buy, it is advised to arrange a mortgage in principle if required in order for you to find out how much you are able to spend on a property.
  2. Find a property - When you have decided on what type of a property you have in mind, register your details with us and we can keep you updated with new properties we get. If we have a property that interests you we can then arrange a viewing.
  3. Make an offer - When you have found a property you like, call us with an offer. This can then be negotiated with yourself and the seller so the price can be agreed.
  4. Instruct a solicitor - your solicitor will look into all aspects of the proposed agreement on behalf of his client. He should be in a position to give independent impartial advice on all aspects of the purchase and you should consult him before signing any contract or legal agreement.
  5. Confirmation of Sale - When an offer has been agreed with both parties, a memorandum sale goes out to everyone with details of the vendor and purchaser, solicitor details, sale price and any special requirements.
  6. Apply for your mortgage – Speak to your advisor as soon as possible who will then speak to the lender. Once this is done, you solicitor will receive the mortgage offer and the sale can then continue.
  7. Instruct your survey – There are three different types of surveys. Mortgage Valuation, Home Buyers and a Full Structural. Your mortgage lender or solicitor will advise you on which is the best one to go a head with. The survey will give you more information about the property and help you make a decision of whether to go ahead with the purchase or not.
  8. Conveyancing – Your solicitor will raise any enquiries on the draft contract, they will conduct searches and request the title deeds and planning certificates. Finally a date for the exchange and completion will be agreed on by all parties.
  9. Exchange of contracts – At this point the contract will be signed by both parties and you will enter a binding contract. The deposit will be over from your solicitor to the sellers’ solicitor.
  10. Completion – At this point the rest of the monies will be transferred from your solicitor to the other. Once this has cleared you will be informed and you will be able to collect the keys to your new house.

 

The Buying Process

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