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Buying a Home
To buy a property can be one of the most confusing and frustrating purchases you can ever make. Archer & Partners' experience can guide you through all aspects involved in the process.
Firstly, if you require a mortgage or other related financial matters to purchase, you must make sure the details have been at least agreed in principle. Archer & Partners can recommend the financial companies listed below, who will be more than delighted to assist.
www.sovereignfinancial.biz or telephone 01323 479810
Steve Harman Mortgage Services 07950 555700
Solicitors & Legal
Once you have agreed a price to buy a property, you will need to instruct a solicitor/legal conveyancer. Your solicitor/conveyancer will most likely ask for monies upfront to pay for Local Authority Search, Water and Drainage Search and an Environmental Search. In the meantime the seller's solicitors will issue various paperwork, which will include Property Forms and Fixture and Fittings Form completed by the seller. On receipt of this paperwork your solicitor/conveyancer will check through this information, including leases, accounts etc if purchasing leasehold. As soon as your solicitor/conveyancer is satisfied with answers to enquiries as well as checking through mortgage offers, they report to you to make sure you are satisfied too and then ask you to sign a contract. As independent estate agents we are not associated with any legal companies, therefore you can use whoever you wish. However, Archer & Partners can recommend the companies listed below, who will be more than delighted to provide you with a quotation.
www.heringtons.net/ or telephone 01323 411020
www.qualitysolicitors.com/barwells or telephone 01323 411505
www.lawsonlewis.co.uk or telephone 01323 720142
Before exchanging contracts on your purchase, if you are not buying with a mortgage, you may still wish to have a survey. There are different levels of survey, which a chartered surveyor will be able to advise. Listed below are recommended companies if you require an independent survey.
www.grsurveyors.co.uk or telephone 01580 230327
www.housemartinscs.co.uk or telephone 01323 470828
Exchange through to Completion
Once all the legalities have been completed for your purchase, your solicitor/conveyancer will ask you to send deposit funds to them in readiness to exchange contracts and agree a moving date. We must stress that it is very important NOT to agree or target a moving date until your solicitor/conveyancer says so. Sometimes if there is a long chain involved, organising moving dates can be rather difficult with all the parties involved. More often than not, estate agents are required to assist with agreeing moving dates to enable solicitors/conveyancers to exchange sooner. If you are currently renting a property, it is advised not to give your landlord notice until you have exchanged contracts.
On your moving day (completion) your solicitor/conveyancer will forward your mortgage along with balance of funds to the seller’s solicitors/conveyancer. If the estate agents are holding the keys to your new home, it is only once the agents receive confirmation from the seller’s solicitors/conveyancer that all funds are in their client account, they can issue you with the keys to your new home.
Naturally this is a very basic description of the buying process and your solicitor/conveyancer will be able to inform you of further details involved.