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Buying Process

1 Arranging your mortgage

If you are purchasing with a mortgage you will need to know the budget that you can work with. Your mortgage can be arranged either directly with a bank or with the help of a mortgage advisor. It may prove advantageous to obtain an ‘Agreement In Principle’ with a lender before starting a serious search. Our mortgage advisor would be more than happy to assist anyone in this instance with no upfront fees (buying through us or not!)

2 Register your interest

Registering your details with us will enable us to get a broad idea of what really ticks all of your boxes. Being as specific as possible with your wish list to enable us to only send you properties that will be of interest to you! Our advice is to also register for alerts with both Rightmove and Zoopla.

3 Arranging Viewings and Finding the right property

View as many properties as possible. This will give you a much better idea of what is actually out there in the market that falls within your budget. Be open minded when going on viewings and try not to have preconceptions of the property before you’ve seen it! Visualise yourselves living in the property and try to look beyond aesthetics! If you are selling a property to purchase and try to sell before you buy as this will increase your chances of securing the house you want.

4 Making an offer

The first step is to make sure you are aware of the offering procedure on the particular property. These can differ between agents and properties. It may sound obvious but only offer what you feel the property to be worth, i.e. if the property clearly needs work reflect it, and if you are 100% committed to the purchase, vendors have feelings too!! Offers are submitted in writing and it is always best to confirm that your offer has been received. It never hurts to personalise your offer letter as it enables us to build a better picture of you when discussing offers with a vendor. You will be asked to verify your position by providing copies of agreements in principle, identification, proof of deposit or verification of your chain details.

5 Offer Agreed

Congratulations! Now the fun starts! We feel it can be greatly beneficial for you to book a second viewing. It can always help to meet the vendors, ask questions about the house and area plus it’s nice for everyone to know who they are dealing with.

6 Instructing a Solicitor

Solicitor fees vary but trust us when we say so do the levels of service. People tend to instruct a company and then get given a person to deal with the file. Try to speak to the person you will be dealing with before instructing. This will give you an idea of whether they are someone you can “deal with” Capital’s recommended solicitors are recommended because they are competitive and excellent. (Not because we get a referral fee….WE DON’T)

7 Conveyancing

You will be sent welcome pack which you will need to complete asap and return. The solicitor you choose is likely to ask for a file opening fee and monies on account to cover searches. Once this has been received your solicitor will contact your sellers solicitor and request draft contracts and sort the conveyancing process as follows:

  • Order Searches
  • Raise enquiries
  • Raise additional enquires based on search results
  • Deal with mortgage offer
  • Prepare contract and report for signing

8 Survey and mortgage offer

On submitting your formal mortgage offer you may be given the opportunity to upgrade the valuation survey to a homebuyers report at a discounted rate. (Speak to your broker or bank) The banks appointed surveying company will arrange access through us to view the property to ensure it meets the lenders criteria. A home buyers report is a much more detailed survey and would highlight any serious defects in the property and advise on any further specialist investigation if required.

9 Exchange of contracts

Once the conveyancing process has been finalised and contracts have been signed, your solicitor will request funds from you (normally 10% of the purchase price). You will need to agree a completion date and once this is done your solicitor will exchange contracts. Once this has happened you are legally bound into purchasing the property.

10 Completion

You will be contacted by your agent and/or solicitor once keys can be released. Congratulations you are now a home owner!