Sales

It is generally recommended that you make an initial appointment with a Financial / Mortgage Advisor to see what kind of mortgage is affordable. With access to a range of mortgages across the market, mortgage advisers are in a good position to advise on a range of options.

It is good practice to obtain a ‘Decision in Principle’ from a suitable lender, which will give confidence to start looking and ofering on a property for your new home.

With a confident idea of what is affordable, it’s time to start looking for a property to buy.

Property portals allow you to register for daily updates of new properties, to allow you to compare to your hearts content online.

Check out areas online or with an agent. Find out top tips for up and coming neighbourhoods. Possibly look out of town that could save money and allow an easy commute.

Once you have found a property you are interested in, arrange a viewing and be flexible, both buyer and seller have personal commitments.

House Viewing Tips

• Do a drive-by.

Is this an area you feel comfortable in, get a feel about the neighbourhood. Maybe drive by before booking a vieiwng and check out the property from the outside. It’s worth doing this both during the day and at night to assess things like traffic noise.

• Make a check-list.

Of anything that is important to you, ready to ask any questions that occur to you before the house viewing. Once you’re in the house it is easy for things to slip your mind.

• Don’t go alone.

To help get a second opinon and or bounce ideas off.  Its easy to get carried away and not look a property honestly in the eye.

It is always safer not to a viewing alone. Take a partner or friend, or attend the viewing with an estate agent at least.

• Check the outside.

Are there any signs of damp like peeling paint or tide marks on the walls? Are there any loose tiles on the roof?

• Be thorough.

Remember, this is a big purchases possibly the biggest in your life. No one will worry about you being nosy. Check all fixed cupboards, especially under the sink. Ask to see the loft too, and take a torch in case there is no lighting.

• Check all plumbing.

Try things out. How long does it take the hot water to come through the tap? Does the heating work?

• What is included with the sale?

Ask what fixtures and fittings the owners will be leaving. Some people upgarde sockets and switches and want to take them with them if they move.  Also check larger items such as Carpets, Integral Appliances, Curtain poles etc.

• What work has been carried out?

Ask how the property may have been modified and request copies of receipts and guarantees. Your solicitor will also do this formally on buying a property.

• Check for damp.

Keep an eye out for peeling paint, stains on the ceiling and steamed up windows.

• Being friendly helps.

Building a rapport with a seller it may make you more memorable, this can be helpful when making and offer you’d like acceping. A good relationship with the vendor can help with a smooth sale too.

A contract is made with the Buyer making an Offer and the Seller Accepting that Offer.

Both buyer and seller are negotiating for the best price.  Don’t be upset if your first offer isn’t accepted but stay within your scope of finances.

Some will accept the offer and stick to it, others may want to wait a while and get what is termed best and last price after a specified time period.

Having a ‘Decision in Principle’ means the lender is prepared to consider a mortgage application from you for up to a stated amount. Tis will always help to satify the seller you are making a serious offer. In face many agents / owners will not accept an offer witout finance being what is termed “pre-qualified” that is you are offering from a true place of being able to carry the sale through to completion.

Having a solicitor ready in advance can help too.

When the seller’s estate agent has the details of both parties’ “Buyers & Sellers” solicitors, they will confirm that the sale is agreed, termed – Subject To Contract. (STC) You will receive a Memorandum of Sale to confirm this.

Conveyancing’ can be completed by a conveyancer or a solicitor.

It is mostly a basic legal process, but can have it’s pitfalls and complications that require in-depth legal knowledge. It’s everything that must happen to make the property legally exchange hands. It can be a confusing process but your solicitor / conveyancer will talk you through the whole process.

Homematch can introduce you to a solicitor and offers a no sale no fee conveyancing service with a guaranteed fixed price (this excludes disbursements) to keep everything easy.

Application

Offer accepted, it is time to get advise the mortgage advisor to agree on a suitable mortgage deal for you and complete the application with you.

Look mortgage protection maybe? If the worst should happen? Un-employment, critial illness, any manner of issues can be covered to help you or your family if they were suddenly under pressure to meet mortgage payments, or the lender could seek to gain possession of the property.

Valuation

Mortgage lenders will generally always arrange a valuation.  This allows confirmation the property is worth what is being lent.

A valuation will not give details on the property condition, for this a house survey should be booked.  Thes can again be a varying levels of depth into the condition.

Homematch can refer advise you on a suitable survey for the property. Without a survey you may not be aware of costly work that needs to be done.

Begin the conveyancing process. 

Your offer has been accepted, it is time to get the ball rolling with the legal side of things by “instructing” your solicitor.  This means agreeing to there terms and conditions and agreeing a price for their servcies. They will have to veruify you and ID you. That’s why it is benficial to complete as much as possible in advance if you are hoping for a quicker buying process.

•  The seller’s solicitor drafts contract.
• The seller’s solicitor will receive the title deeds from the seller and draw up a contract. This will be sent to your solicitor.
• Your solicitor will confirm the details of the property.
• Your solicitor will contact the seller’s solicitor to confirm exactly what is included in the sale.
• Your solicitor will enquire about things like the boundaries, any disputes and any alterations that have been made.
• Your solicitor will perform searches of Land Registry and Local Authority information. They will be checking for planning history, and any potential developments around roads, drainage and mining near the property.

Mortgage confirmed.

Around this time you should receive your mortgage offer, along with all the terms and conditions surrounding your mortgage. You will need this before you can exchange contracts.

Get insured.

You’re close to completion so it’s a great time to get quotes for your building and contents insurance. Homematch has an Insurance quotation via RENTGUARD whose services offer a range of competitive products.

To keep things easy we’ll be in contact with you to discuss your needs. Don’t forget, you need all relevant insurance policies to begin from the exchange of contracts date.

Sign the contract.
Your solicitor will advise you when it’s time to sign on the dotted line.

Agree moving dates.
Your solicitor and the seller’s solicitor will agree a date for the exchange of contracts and for completion (i.e. move in day). It’s a good time to start getting quotes for removals too as you can set a provisional moving day.

Exchange of contracts.
Your deposit will be sent to the seller’s solicitor, along with the signed contract. You are now legally bound to the purchase.

All relevant insurance contracts should now be put into force.

Completion.
Your solicitor will pay the balance of the purchase price to the seller’s solicitor. Once the money is received, the seller’s solicitor will inform the estate agent and the keys will be released.

CONGRATULATIONS! The property is now your home