Agree your purchase. After viewing the property that you feel is the right one for you, you will need to let your agent know how keen you are. This will be followed by an offer which will need to be agreed with the seller. This just part of the things that we do for you.
You'll need a solicitor who will sort out the purchasing legal work, at the same time they will act for your mortgage company in preparing the mortgage deed.
Your mortgage provider will arrange for the property to be valued. If you want a fuller survey u will need to arrange that in addition. Don't wait until the last minute to get a second opinion - it wastes time, causes aggravation and costs more money.
Your solicitor will apply for the title document, the searches from the council and raise questions with the seller’s solicitor - boundaries, what's being left, what guarantees go with the house.
Your solicitor works for you, but his master is the mortgage company. His job depends on their being happy that the property complies with the terms of the Council of Mortgage Lenders Guide to Lending Instructions.
Once the mortgage offer is in, and all the legal documentation is sorted you can then 'exchange contracts.'
The exchange is the first point at which the buyer and seller is legally obliged to go ahead with the transaction. At this stage, the buyer pays a deposit to the solicitor - typically 10% of the purchase price. In the agreement will be the 'Completion Date.'
The completion date is the day you actually move and the property is transferred or 'conveyed.'
