Buying a property is one of the biggest investments of your life and Bury and Hilton will help during every stage of your property purchase. It can be a complicated process and this step by step guide has been designed to help you through the process of buying a property:-
Arranging your mortgage – it is advisable to arrange your finances before you start your property search. This will confirm how much money you have to fund the purchase, which will ultimately influence the properties you will view. If you need any mortgage advice, then please do contact a member of our staff and we can arrange this for you.
Register your interest – Bury and Hilton Estate Agents will listen to your individual requirements for buying a house. We can advise you on the local area you are looking at and the housing market conditions. Once we have a clear understanding of your property requirements, we can present to you all suitable properties which match your criteria. We can then keep you up to date with any new properties coming onto the market via telephone, email and post. Our website is updated every day with any new instructions.
Viewing houses – Once you have found a property you wish to view, call us and we can arrange a viewing for you at a time to suit your own needs. After the viewing has taken place we will call you to see what you thought of the property and to see if you are ready to make an offer.
Making an offer – Once you have found a suitable property and feel you are ready to make an offer just give one of our members of staff a ring or call into the office and we will handle all the negotiations with the seller for you. The information required in order for us to put forward an offer to a seller is the amount you want to offer, your buying position, i.e. are you a first time buyer, have you sold subject to contract or are you a cash buyer and your mortgage provider (if required). We must point out that there are no legal obligations on either side until contracts are signed.
Offer agreed – Once your offer is accepted we will need to instruct a solicitor. It is a good idea to use a solicitor who knows the area you are moving to and specialises in conveyancing. If you need any help on this advice, we would be happy to give you contact details of experts in property conveyancing.
Bury and Hilton will then prepare a memorandum of sale, write to all parties to confirm the agreed price and ask you to confirm your mortgage details.
Conveyancing – As part of the conveyancing process your solicitor will raise any enquiries on receipt of draft contracts from the sellers solicitors, request local searches and agree on a date for exchange of contracts.
Survey and Mortgage Offer – A survey of the property will be required out by a surveyor on behalf of the mortgage lender which you use. This will help to identify any structural problems and advise on the property`s value. Once the survey report has been received the lender will then issue a formal mortgage offer which will be sent to you and your solicitor which you will need to go through and sign before it is returned.
Exchange of Contracts – Exchange of contracts will take place when all the enquiries have been confirmed and agreed by yourself and your solicitor. Once the contracts have been signed by both parties, the deposit will be transferred from your solicitor to the sellers solicitors, the completion date then being set by mutual agreement.
Completion – Completion is when all the monies have been transferred from your solicitors to the sellers solicitors account. Keys can be released once the monies have been cleared and are in the sellers account. You are then legal owner of your new home!
If there is any further advice you require then please do not hesitate to contact one of our offices.