Guide to Buying a Property

Find Out How Much You Can Borrow - Speak to a Financial Advisor to establish how much you can borrow.

Start Searching For A Property - Register your requirements with agents and be put on their mailing list.

Arrange Viewings - Either the estate agent or seller will show you round.

Make An Offer - Make and offer to the estate agent – your offer will be put in writing and sent to the seller.

Decide On A Solicitor / Conveyancer - Find out what their fees are and what other legal costs are involved.

Offer Accepted - Agree on any fixtures and fittings to be included in the sale.

Instruct Your Solicitor / Conveyancer - You will normally be asked to pay a fee upfront for the searches

Sale Agreed - Once the estate agent has confirmation of both parties solicitor’s details they can confirm the Sale is Agreed Subject to Contract. You will receive a Memorandum of Sale. At this stage you are not legally bound – both the buyer and seller can withdraw from the sale/purchase without any penalty.

Apply For Your Mortgage - Complete your mortgage application form, with the help of a Financial Advisor.

Book Mortgage Survey - Your mortgage lender will want to carry out a valuation of the property. The lender will normally arrange this for you. You may want to arrange a more detailed structural survey for your own benefit, particularly if the property you are buying is older. The surveyor will send you a copy of the survey report.

Draft Contract Are Prepared - The seller’s solicitor will obtain the title deeds from the seller and will then draft a contract and send it to the buyer’s solicitor.

Confirm Details Of Property - Your solicitor will make enquiries about the property. They will enquire about boundaries, any disputes, alterations to the property etc.

Searches - Your solicitor will perform a Land Registry search and Local Authority searches to check for planning history, potential developments, roads, mining and drainage at or around the property.

Confirm Mortgage Offer - You need this before you can exchange contracts.

Arrange Buildings & Contents Insurance - To be effective from exchange of contracts.

Signing of Contracts - Both the buyer and seller must sign the contract before exchange. Your solicitor will advise you when to do this.

Agree Dates For Moving - At this stage it is a good idea to get quotes from removal companies and provisionally book a date.

Exchange Of Contracts - The buyers deposit is sent to the seller’s solicitor along with the signed contract. This is known as Exchange of Contracts. You are now legally bound to the sale/purchase and cannot withdraw without suffering a loss.

Advise People Of Your Change Of Address - Contact your utility companies and arrange for meters to be read.

Collect Keys - This is normally from the Estate Agent or Solicitor.