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The Buying Process
Our step by step guide to buying property
Step 1: Register your interest
The first step is to register your details with us either by calling any of our local offices where we can discuss your property requirements or by registering online. Registering your details on My Account means you will automatically be updated by email.
Step 2: Mortgage
We recommend that you get finances, including your mortgage, agreed in principle as early as possible to avoid missing out on your dream home. Our Mortgage Consultants offer an Information Service which provides a personal guide to the costs of moving and an explanation of the moving process.
We offer a Ready2Move service which, subject to qualification, means we issue you with a R2M card which gets you to the front of our home buying queue.
We also offer a Comparison Service for those already with a mortgage and provide an opportunity to compare lenders and costs from our panel of lenders.
Step 3: The search begins
You will receive a selection of property that matches your criteria and you can keep updated by regular access to sharmanquinney.co.uk
Step 4: Making an offer
Once you've found a suitable property we'll present your offer to the seller both verbally and in writing. We will qualify your status (position to proceed) and your finance arrangements at this point.
Step 5: Instruct a Property Conveyancer
A Lawyer will be required to handle the legal paperwork involved (known as conveyancing).
Using our conveyancing service will ensure a faster, more secure sale and key features such as no move - no fee means you will be better protected should the sale not proceed.
Step 6: Sale Agreed
Once your mortgage application is completed and your offer is accepted, written confirmation of mutual solicitors and finance arrangements will be sent out. Your lawyer and survey will be instructed.
Our surveying service can help you with survey arrangements on the property you intend to purchase.
Step 7: Searches and Surveys
Your Property Conveyancer will request their own necessary searches.
Step 8: Contract Approval and Mortgage Offer
Once results of the searches and answers to enquiries are received, the draft contract is approved by your solicitor and when this has been signed and returned and your mortgage offer is in place you are ready to exchange contracts.
Step 9: Exchange of Contracts
The contract will be signed by you and the seller.
The deposit (usually 10% of the purchase price) is telegraphically transferred or paid by your solicitor in the form of a banker's draft. The completion date is then set.
An exchange of contracts is legally binding.
Step 10: Completion
Generally set two weeks after exchange of contracts.
Residual monies are transferred from your solicitor to the seller's solicitors account.
Congratulations, you are now the legal owner of your new home!
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A BROKER FEE MAY BE PAYABLE UPON MORTGAGE APPLICATION AS WELL AS AN ADMINISTRATION FEE. THE TOTAL FEE PAYABLE WILL DEPEND ON YOUR CIRCUMSTANCES. YOUR MORTGAGE CONSULTANT WILL EXPLAIN ANY FEES APPLICABLE IN YOUR INITIAL APPOINTMENT.
YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
YOU MAY HAVE TO PAY AN EARLY REPAYMENT CHARGE TO YOUR EXISTING LENDER IF YOU RE-MORTGAGE.
Pattison Lane Estate Agents
Limited is registered in England and Wales under company number 4730529, Registered
Office is Cumbria House, 16-20 Hockliffe Street, Leighton Buzzard,
Bedfordshire, LU7 1GN. VAT Registration Number is 500 2481 05.
For the activities of advising on regulated mortgages and non-investment insurance contracts, Pattison Lane Estate Agents Limited is an appointed representative of Connells Limited which is authorised and regulated by the Financial Conduct Authority. Connells Limited’s Financial Services Register number is 302221.