When it comes to buying a home it is a new experience that many find daunting, but there is no need for this to be the case.
At Miles & Barr we will make the process as simple and stress free for you as possible, helping you with every step. We can offer expert mortgage advice to meet your every need. The process of buying a home takes a number of weeks and there are many circumstances you’ll need to think about.
We have expert advisers who will discuss these circumstances with you, they range from your income and outgoings to savings and what you have in mind for the future.
There are many steps involved when buying your first home:
1 Arrange your finances
We advise you to arrange your finances and where required have a mortgage agreed in principle before you start your property search. This will help to confirm the amount of money you have to find a potential purchase, which will influence your property search. Our access to the market means will be able to help you find the best mortgage available.
2 Register with us
To help you find the right property, register with us by calling 01304 626 444 or visit one of our 13 offices where one of our local agents can find out what your property requirements are. You can register your interest about any property online if your time is limited. We have thousands of properties for you to choose from, so we will have what you’re looking for.Register With Us
3 Property Search
Once we have established an understanding of the property requirements you have, we will supply you with a selection of potential properties matching your criteria. We can keep you updated through email notifications when the latest properties become available.
We recommend early viewings to give you the best chance of securing a property. We will meet you at the property you want to view and accompany you during the viewing to ensure any questions you have are answered immediately and provide you with advice when required. Our opening hours are 08:00-18:00 Monday to Friday, 08:00-17:30 on Saturdays and 10:00-16:00 on Sundays, so we are flexible for viewings that suit you.
5 Choosing a solicitor
An experienced and efficient solicitor is key to the successful purchase of a property. We recommend using a solicitor who knows the area you’re looking to move to and one that specialises in conveyancing. Our chosen solicitors will ensure your progress is as stress-free and smooth as possible.
6 Making an offer
Once you have found a property that meets your requirements we will put your offer forward to the seller in writing and verbally, ensuring they are aware of any conditions of the offer. You may be required to provide evidence that you are able to proceed at this stage, for example your mortgage in principle. At this stage there are no legal obligations in place until contracts have been agreed and signed.
7 Sale agreed
Upon acceptance of your offer we will follow up with these steps:
- Write to all parties to confirm the agreed price
- Prepare the memorandum of the sale
- Ask you to provide your mortgage brokers details.
The solicitors will now be instructed to proceed with the conveyancing process and the mortgage broker will proceed with your application.
The solicitors will carry out the following steps as part of the conveyancing process:
- Bring forward any enquiries on receipt of the draft contract from the seller’s solicitor
- Request local searches
- Agree on a date for the exchange of contracts
We will be working alongside the solicitors during the process and will keep you informed with each step.
9 Formal Mortgage Offer
The property will have a survey booked by a surveyor on behalf of the mortgage lender to advise on the property’s value in the event of any problems. After the valuation report is received you and the solicitors will be supplied with a formal mortgage offer that will need signing before being returned. There are no legal obligations until contracts have been signed.
10 Exchange of contracts
The contracts are exchanged when all enquiries have been confirmed and agreed. When the contract has been signed by all parties involved the deposit will be transferred or paid in the form of a bankers draft between the solicitors. The completion date will then be agreed by mutual consent.
Completion occurs when the residual monies, around 90%, are transferred from your solicitor to the seller’s solicitor’s account. Once this has cleared into the seller’s account we will release the keys and you will become the legal owner of your new home.