If you’re looking to buy your first home or move house, our homebuyers guide provides an overview of the process.
What can I afford?
Typically, you will need a mortgage to buy a house, so it’s worth knowing how much you can borrow, what deposit you will need and how much it will cost. If you are moving house, you will also want to know how much you can expect to sell your existing home for, so you will need a valuation is a good idea.
Once you have a budget in mind, the next thing to do is find properties that you would like to view. Use our property search to shortlist potential viewings or call 01379 641 341 to discuss your requirements and we can suggest suitable homes and keep you updated when new ones become available.
If you are also selling your house, it is recommended that you have an offer in place before starting viewings – this puts you in a much better position to have an offer accepted when you find your dream home.
Making an offer
Once you find the right property, the next thing to do is make an offer. This is done via the vendors estate agent, who will then relay the offer to the vendor who can choose to accept, reject or counter-offer.
Never be afraid to negotiate, the price is only a guide in most cases, so you can offer an amount that you think is suitable or see if the seller would be willing to include extras such as fixtures and fittings in the sale price.
Hopefully your offer will be accepted, at which point you can proceed with your purchase.
The vendors estate agent will formalise the offer in writing and at this point all parties involved will require a solicitor to start processing the sale. If you do not have a solicitor, we would be happy to recommend one, call us on 01379 641 341 for more details.
The solicitors will then conduct the necessary procedures from performing searches, preparing paperwork such as land registry deeds and details of exactly what the seller will be including in the sale.
A good solicitor will be proactive in this process, however a good estate agent is also invaluable in pursuing all parts of the chain to make sure everything runs smoothly.
Exchange and Completion
Once everything is in place, you are ready to exchange contracts. At this point the sale becomes binding, so if you haven’t already it’s time to book that removal van!
The final step is completion, at which point mortgages take effect and monies pass up the chain to finalise the purchase. It’s common for exchange and completion to take effect at the same time, and usually on a Friday.
The sale is now complete and you can collect your keys and start moving into your new home, congratulations!
Please note that each sale is different and this guide may not cover all eventualities. If in doubt, we are here to help.