Getting finance in place
To avoid disappointment further down the line, make sure you have your finances in place before you start the process. If you have money in savings or shares, make sure you can access them easily and that there aren’t any fixed timelines to withdrawal. If you need a mortgage, speak to a mortgage advisor, ARLA Mortgages who have access to the entire mortgage market, plus many exclusive offers not available on the High Street.
You can register with us directly online through the Home page or by phoning or visiting our branch. We update our website daily and have access to many more properties via our independent networking with clients and estate agents. If you are on our mailing list, we will be able to alert you of any new properties via email. If you are interested in viewing a property, act fast and contact us straightaway.
Instructing a solicitor
Make sure you instruct a solicitor as early in the process as possible. This way once a sale is agreed, you will be in a position to get things moving quickly. We have worked with a number of very efficient, able and competitive solicitors over the year’s, always appoint a solicitor who is happy to liaise with your estate agent, this makes the buying process a lot easier for you as we maybe able to help move matters along. Please call us if you want to discuss appointing a solicitor.
Making an offer
We will ask you to confirm how you intend to fund the purchase of your property and availability of the deposit (usually 10% of purchase price). If you already have a mortgage arranged, we will ask you to provide an agreement in principle (AIP) document and we will require the details of your financial advisor so that we can clarify the time frame that will be involved for processing your application. Cash buyers will also need to provide evidence of finance.
Once an offer has been accepted, we will contact your solicitor, the seller and the seller's solicitor and confirm the details of the sale. Offers are not legally binding until contracts have been exchanged. From now until exchange, you will need to be in close communication with your solicitor and your agent. We will also provide you with a Guide to Conveyancing to help you through this process.
If you have not instructed a solicitor to act on your behalf you must do so now.
Survey and mortgage offer
If you are obtaining a mortgage, a survey of the property will be booked by a surveyor on behalf of the mortgage lender. This is to protect their interests and not yours. Once they have received the survey report and are satisfied they will issue a mortgage offer to your solicitor. If you would like a survey on the property for your own interests please call us and we can help you with the name of reputable surveyors who would be willing to help.
Exchange of contracts
Exchanging contracts is the moment when the sale becomes legally binding on both sides. You can only exchange once you have paid a cleared deposit (usually 10% of the purchase price) to your solicitors account. Your solicitor will inform you when contracts have been exchanged and then will inform us. The completion date is then set by mutual agreement and is contractually binding.
Completion is the moment when your property purchase is finalised. When you have transferred the remaining purchase price to your solicitor by the agreed completion date. Your solicitor will contact you and us when the money has cleared in their account and we will then release keys to you.