When it comes to buying a property, whether it’s your first home, last home or one in between, here at Distinctive Homes we want to help you on that journey.
We enjoy assisting all of our clients by sourcing the right types of property and negotiating their purchase right through to completion.
The following guide has been produced to help explain different stages of this process.
- Funding your purchase
- Don't miss out! Register your property search with us
- Let us do the work
- A viewing time to suit you
- Finding and instructing a solicitor
- Making an offer
- Offer agreed
- The conveyancing process
- Survey and mortgage offer
- Exchange of contracts
Funding your purchase
Before you begin your property search we recommend that you arrange your finances to be reviewed for affordability and, if required, get a mortgage agreed in principle. This will help you establish exactly how much money you will have to fund your purchase, which will ultimately influence your property search parameters.
Our recommended mortgage broker has access to the entire market, as well as exclusive deals and rates to help find you the best mortgage available.
Don't miss out! Register your property search with us
Some of our properties sell before they even reach the big property search portals such as Rightmove so we always advise you to register your details directly with us to ensure you don't miss out on anything.
By following our Facebook page you will also be the first to know about all of our new listings.
You can also register by calling us on 0330 912 5285 or visiting our office where you can discuss your property requirements with one of our sales team.
Alternatively, get in touch here to register your search requirements.
Let us do the work
Once we have a clear understanding of your search requirements you will be notified about properties that match your criteria.
We will always keep you updated with all of our latest properties, even before they come to market.
We can separate what you 'want' from what you 'need' and keep an open mind when looking through property details.
On paper they may not tick all your boxes but until you view them in person we advise you not to discount them.
You might just end up falling in love with a property that only ticks a few boxes but has that something special that is really worth compromising on.
A viewing time to suit you
We are available 7 days a week for viewings and will even organise out of office appointments by special arrangement.
With the ability to talk to us using whatsapp, email or social media, we can continue to book viewings late into the evenings when you are relaxed and able to select your favourite homes.
Finding and instructing a solicitor
The successful purchase of a property can be reliant on the instruction of an efficient and experienced solicitor.
It is a good idea to use a solicitor who is local to the area and someone who specialises in conveyancing.
Having worked with a vast number of solicitors we have put together a number of tried and tested solicitors that are experts in conveyancing and who we would be happy to recommend.
If you would like more information about instructing a solicitor or would like us to arrange someone to prepare you a quote please call us on 0330 912 5285.
Making an offer
Once you have identified a suitable property we will put your offer forward to the seller both verbally and in writing stating any special conditions of the offer.
Following your offer you will need to demonstrate that you are financially able to proceed (e.g. provide evidence of your funds or a copy of your mortgage agreement in principle).
Please note that it is unlikely that you will be able to properly secure a property until you have provided this information. It will remain confidential information and these details will not be disclosed to a third party.
The following are acceptable forms of proof of funds:
- A copy of your mortgage agreement in principle
- An email / letter from your bank manager or solicitor or financial advisor
- A recent bank statement
There are no legal obligations on either side until contracts are signed.
Once your offer is formally accepted we will do the following:
- Write to both parties to confirm the agreed price and any terms/conditions of the offer where applicable.
- Ask you to confirm your solicitor's and mortgage broker's details (if applicable). You will now need to instruct your solicitor to proceed with the conveyancing process and instruct your mortgage broker to proceed with your application.
- Prepare and send out the memorandum of sale detailing the agreed offer and terms, basic details of the property and contact details for all of the parties involved; the buyer, the seller and both associated solicitors.
- All proactive marketing and viewings will be put on hold until contracts have been exchanged (unless otherwise instructed by the seller).
The conveyancing process
As part of the conveyancing process your solicitor will do the following:
- Raise any enquiries on receipt of the draft contract from the seller's solicitor
- Request their own local searches
- Refer to the information already provided in the seller's Home Information Pack
- Agree on a date for exchange of contracts
Survey and mortgage offer
If you are financing this purchase with a mortgage, a survey of the property will be booked in on behalf of the mortgage lender to identify any structural problems and independently advise you on the property's market value.
After the mortgage valuation report is received, a formal mortgage offer will be sent to you and your solicitor which you will need to sign before it is returned.
If there is no mortgage; you can request an independent homebuyers survey to be done on the property. This is a comprehensive report of the property and its structural condition, the electrical wiring and various other areas that you may want checked for your own peace of mind.
If you would like more information or a quotation on this then please call us on 0330 912 5285. Again, there are no legal obligations until contracts are signed.
Exchange of contracts
Exchange of contracts occurs when all enquiries have been confirmed and agreed. Once the contract has been signed by both parties the deposit will be transferred or paid in the form of a banker's draft from your solicitor to the seller's solicitor.
The completion date is then set by mutual agreement. Sometimes a simultaneous exchange and completion can happen within the same day but normally there is an agreed amount of time between exchange and completion to allow for packing and removal company arrangements.
Completion officially takes place when the residual monies are transferred from your solicitor to the seller's solicitor's account.
We will release the keys once the seller's solicitor has called to confirm that the money has cleared in their account.
Congratulations, you are now the legal owner of your new home!