GOOD, LET'S GET YOU ON TRACK

Here at Clarkes Property Consultants we understand the complexities of buying a home, whether you are a first time buyer or a seasoned investor. There is a lot to consider, like any journey, there is always a beginning and an end. So, we recommend you to start on the right footing of your adventure; “find your property” so it runs like clockwork.

At a glance it may seem straightforward, but this is where you find out how much money you have to spend on your purchase. Ensure you do your due-diligence first, make inquiries about the legal fees, broker fees, survey fees and removal fees to save time and disappointments down the line. Clarkes Property Consultants have teamed up with local experts in Financial Services and their professional team of financial consultants, are at hand to help you calculate the costs involved in purchasing a property.

As a buyer you have several options at hand, you can go directly to your bank providing they offer a mortgage option, or we recommend use an independent Financial Advisor who will have access to a comprehensive range of mortgage providers that can tailor to your needs and affordability. Whichever route you take, they should provide you with a “Decision in Principle” allowing you to start your property search with confidence. If you require assistance in this matter Clarkes Property Consultants can arrange a free initial appointment with a local independent Financial Advisor.

Once you have found out how much you can borrow, it’s time to start your property search. Now, with the power of the internet there is no need to walk the local High St searching for Estate Agents, you can go to any of your preferred property portals to explore suitable properties that suit your needs and budget. This will allow you to reach out to the local agents selling the properties you like, where they will register your interests, educate you on the local area and recommend similar properties to you.

YOUR'E CLOSER TO MAKING AN OFFER.

Once a suitable property is found, you can put an offer forward, which can be supported by your “Decision in Principle”. This is normally done through the selling agent who will put our offer to the vendor informing them of your current position. There may be some form of negotiation, which is common. Be mindful that both, you and the seller are aiming to get the best price.

Before moving forward with the purchase, the selling agent will ask for proof of ID and address for all parties involved and details of your conveyancing team, that is going to handle the purchase for you. Don’t worry if you haven’t chosen a solicitor yet. Clarkes Property Consultants can arrange it, which will offer a variety of service like no sale no fee or guaranteed fixed price to keep everything on track, therefore a “memorandums of sale” can be sent to all parties.

Now, it's time to get in contact with your financial advisor, and provide them details of the property you are purchasing, and your chosen conveyancing solicitors, so they can complete your application. In addition, you may wish to consider to protect your mortgage in case of the worst, like illness or death which could add pressure meeting your mortgage payments. Ensuring lenders don’t seek to gain possession of the property.

Majority of lenders will arrange the valuation of the property and will confirm an appointment through the selling agent to assess if the property is worth the amount you are being lent. If you wish a more detailed report, you will need to commission an independent property survey to highlight any defects or immediate costs associated with works that need to be carried out.

As part of your mortgage requirement you will need to have building and contents insurance that begins from the day of exchange of contracts. Don’t fret if you have not yet arranged your insurance. Clarkes Property Consultants have teamed up with a Financial team that have you covered with a range of competitive products from a panel of insurers that can help you meet the time scale for exchange.

On receipt of the memorandum of sale, your solicitors will be in contact with the sellers conveyancing team to confirm they are acting on your behalf. Then the sellers conveyancing team
will send them the draft contract for your purchase. Once your solicitors have received the draft contract, they will perform searches of Land Registry and Local Authority information .

Once all the inquiries have been satisfied your solicitor should receive your mortgage offer along with the terms and conditions setting out your mortgage requirement. They will need this before they can report back to you about exchanging contracts.

Once your solicitor has had confirmation of your mortgage offer, insurance, exchange date and completion date they will invite you to sign the contract, if you have not done so already.

CAN YOU TASTE IT YOUR NEARLY THERE.

Your solicitors will agree to an exchange of contracts and a completion date on your behalf that suits all parties involved. At this stage ensure you have made some provisional arrangements for any removals you may require.

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Your solicitor will send your deposit and your signed contract to the sellers, solicitors sealing the deal, which will bind all parties to the exchange and completion dates of the sale and purchase of the property.

All hands on deck, make sure you have booked your removals, or clearance if required. Contact your utility companies with your change of address and cancel your contracts, provide them with your last meter readings. In addition if necessary you can have Royal Mail redirect your mail to your new address.

Your solicitor will make the final payment to the seller’s solicitor. Once the transfer has been received the seller’s solicitor will inform the selling agents and the keys can be released to you, the new owner. Congratulations your property purchase is completed.