Thinking of buying a property?
We have a wealth of information that can help give you a better understanding of anything you might want to know during the process.
Whether you’re experienced in buying homes or a first-time buyer, our step-by-step buyer’s guide will tell you everything you need to know along every step of the process.
Step by step guide to buying a house
Home Buying Buyer’s Guide
- 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.
- Register with us
- Property Search – start your property search here
- Viewings – book an appointment today
- 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.
- 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.
- 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.
- 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.
- 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.If you are seeking help with your finances, have a read of our mortgage advice section and if you can’t find exactly what you want to know or want something explained in more detail, you can book an appointment with one of our experienced advisers.If you need any more information, please contact us, we are always happy to help you.
The Eureka Property team
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