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Buying property is often a simple transactional process. However, people occasionally move up or down the property ladder, creating dependent property sales. Therefore, before embarking on a property search, we recommend that you take steps to sell any property required to proceed with a purchase. If you have a property to sell in East London, South East London, & North Kent, we invite you to book your property valuation with us.
It is a substantial financial and legal commitment when you buy a property. Many buyers will require a mortgage, and all buyers will need the assistance of a property lawyer. Establishing your budget and the total costs involved is crucial. We recommend taking independent financial advice and obtaining your mortgage in principle. Legal fees vary based on the property's type, tenure, and price. We advise you to request a quote for legal work, and our preferred conveyancing partner will be happy to assist you.
Armed with your spending power and to commence your search, please register your details and property requirements. Our consultants will diligently match your needs with suitable properties, advising you of them regularly by your communication methods of choice. Our website is updated with property for sale before the property portals. And, our staff often have advanced knowledge of future listings before they reach our site.
You can most likely picture the type of property you wish to buy. Finding it may be more challenging than you think though. The location is critical, as the area needs to fulfil your recreational and work-life balance. Be specific about the property you seek. A list of must-haves, nice to have and things you don't want will help define properties to view. Remember that new properties become available daily via our website.
Desirable homes attract strong interest and once you have found your ideal property, making an offer is the next step. Estate Agents act for the vendor in property transactions. First, we verify your identity, buying and financial position, then communicate offers, handling all of the negotiations. The closer the offer amount is to the asking price, the stronger the chance of acceptance by the vendor. We would be delighted to value and market your property if you have a local property to sell.
When offer negotiations conclude successfully, the sale status is agreed (subject to contract). We will issue a memorandum of sale detailing all parties involved in the transaction. The appointed solicitors are formally instructed, search fees paid, and the legal work can commence. Buyers formalise their financial arrangements with lenders. Mortgage applications are submitted and proceed concurrently to the property conveyancing.
Your solicitor will manage the legal aspects of the conveyancing and ensure that all vital checks, including the required land and local authority searches, are completed. They establish the boundaries of the property, any restrictive covenants or potential local developments that may affect your enjoyment of your new home. Our sales progressors help progress the transaction and assist where necessary to ensure a speedy process.
Alongside identity and income checks for the mortgage application, the lender will usually require the minimum of a Mortgage Valuation to be carried out by a qualified surveyor. The report ensures that the property is adequate security for mortgage purposes. More detailed surveys like Homebuyers Reports and Structural Surveys are optional. However, mortgage lenders will sometimes require these detailed reports. Finally, a formal mortgage offer is issued when the lender is satisfied.
On receipt of the formal mortgage offer and instructions, all required legal documentation, your deposit in cleared funds, both parties signed contract and mutually agreeable completion date, your solicitor will then be able to exchange contracts formally. This milestone finalises the purchase terms and makes the transaction legally binding for both you and the seller. Your deposit will be transferred from your solicitor to the vendor's solicitor on this day.
During Completion Day, completion monies will transfer to the seller's solicitors via the banking system. Once they confirm that the transaction is complete, the property legally becomes yours. Arrangements for collecting property keys are usually in the early afternoon on Completion Day.
Congratulations! You are now the proud owners of your new home. You have the keys and can begin moving, unpacking and settling in. Next, it's time to contact utility companies, broadband, communications and media suppliers, and the local council. Remember to have your mail re-directed and notify your bank, your employer, HMRC, DVLA, insurers, doctor, dentist and any schools of your new address.