guide to buying a new homeOur guide to buying
Exciting! But there’s a lot to think about…
Steps to take
Our guide to buying will give you all of the information you need to start the buying process on your next property.
1. Arrange a mortgage
Before you begin your property search it’s important to know what you can afford to borrow so it is advisable to speak to an independent mortgage advisor who has access to the whole of the mortgage market to get your finances in order. This will confirm what you can borrow and influence your property search.
We have a recommended mortgage broker so if you would like further information please contact us.
You can register with us via email and stay one step ahead by calling on 02920 397887 or by visiting one of our Cardiff offices. By registering with us you will have access to early bird property details via email or text.
Working 9-5? We appreciate this and can work around you. We carry out Sales and Letting viewings Monday – Friday up until 6.30pm and 5pm on Saturdays.
Not only that but we also offer virtual viewings, allowing people to view homes without the need to organise viewings.
4. Instructing a solicitor
For a successful purchase you need the instruction of an efficient and experienced solicitor and we would recommend you do this as soon as possible. Choose a solicitor that has good local knowledge and has a dedicated conveyancing department.
Once an offer has been accepted and on receipt of the draft copy of the contract from the sellers solicitors, your solicitor will raise enquiries on your behalf. Searches will be requested and they will look to agree a date when contracts can be exchanged.
5. Making an offer
Once you have identified the property you wish to purchase we would inform the seller of your offer both in writing and verbally. At this stage we would ask you provide mortgage in principal before accepting any offer. Should you require mortgage assistance we have recommended mortgage specialists.
Once your offer has been accepted we would issue all parties a memorandum of sale, including the agreed sale price. We would require your solicitor and mortgage broker’s details.
Don’t forget you can join MyJeffreyRoss to make an offer online in minutes! Simply login and press ‘make an offer’ on the property you would like to buy.
6. Surveys and mortgage offer
Once an offer is accepted your mortgage company (if applicable) would want to carry out a mortgage valuation survey. As a buyer at this stage you have the option to upgrade your survey to a home buyers report or full building survey. A survey would point out any structural defects and advise on the property value.
There are no legal obligations at this stage to buy the property.
The final hurdle
7. Exchange and Completion
This occurs when the solicitors are satisfied with their enquiries and the searches have been completed. A deposit is then paid and the solicitors fix a mutually agreeable date for completion.
When you exchange you are legally committing to buying the property.
Completion will take place once all monies have been transferred and keys are then issued to your new home.
buying a new home
Tips for buying a new home
Check out our list of tips, learned from years of experience in property sales. We have put together a list of what you should be assessing when visiting your potential new home.