This step by step guide will escort you through each key step in the home buying process and you'll be able to reap the rewards of over 30 years' experience in the Liverpool property market.
Before you begin searching it is advisable to arrange your finances and, if required, have a mortgage Agreed in Principle (AIP).
Now you know what you can spend, you need to register with us, so we can help you find your new home.
It is also important that you start to consider your basic requirements such as location, type of property, size, style, local amenities , schools and transport links.
Arrange to view the properties that you like, make sure you visit at different times of the day to make sure that it is the right home for you.
After the viewing providing feedback to your estate agent will help them gain a stronger understanding of your wants and needs in order to find the best property for you.
Once you find your perfect property you can make an offer with your agent. Let us know if there any special conditions of the offer and we'll communicate this to the seller.
At this point you may need to demonstrate that you can proceed by providing evidence of your mortgage in principle and solicitor details. There are no legal obligations on either side until contracts are signed.
Once your offer is accepted we will ask you to confirm your solicitors and mortgage details, prepare a memorandum of sale and then write to all parties confirming the agreed price. Therefore, you will now need to instruct your solicitor to proceed with the conveyancing process and your mortgage broker to proceed with your application.
Conveyancing is the process by which the legal transfer of property from one person to another is made. The buyer or their solicitor/conveyancer examines the legal documentation for the property and raises questions in order to approve the contract of the sale.
A survey of the property will be booked by a surveyor on behalf of the mortgage lender to identify any structural problems and advise on the property's 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.
The exchange of contracts is the legally binding part of the process. This is when you hand over a deposit (the normal sum or liability is 10% of the purchase price). Contracts are exchanged once both you and the seller and your respective solicitors/conveyancers are satisfied that everything is in order, a date for completion is agreed and from this point both parties are legally bound to go through with the transaction.
Completion is when the residual monies (usually 90%) are transferred from your solicitor to the seller's solicitor's account.
We will release the keys once the money has cleared in the seller's account.
Congratulations, you are now the legal owner of your new home!