Registration

The first requirement is for you to register your details and property specifications with us, which can be achieved in a number of ways (i.e. email, phone, in person, or by simply CLICKING HERE and completing our registration form). This will give us an insight into your personal requirements, thereby enabling us to modify the properties we bring to your attention. Once registered, you are then in a position to receive details from us directly, via the communication route that best suits you. Many of the better quality properties are sold to our database before they even have time to reach the internet, so to get the best new properties first, register with us.

 

Mortgage

It's important to understand what price you are able to pay up to, and therefore we recommend, if you require a mortgage to purchase, that you seek advice on how much you can borrow, the likely deposit size you will need, and what the associated costs of purchasing are. This ensures you only look at property that is affordable to you and also gives you the confidence to offer should you see something you really like. Most lenders will issue an AIP (Agreement In Principle), which is advisable as this will also save time once you do find a property to purchase.

 

Viewings

Our friendly team is available to arrange and escort you around those all-important viewings of your preferred properties. Our offices are open 7 days a week, so please contact us to arrange a mutually convenient time.

 

Making Your Offer

Once you have found a property you wish to purchase, the next step is to make an offer via us, which we will submit to the vendor for their consideration. This will be put to the owner both verbally and in writing. We will then let you know our client's response, and if accepted, a sale can be agreed subject to contract. If not accepted, we will report our client's views back to you, and if you wish to improve your offer, a process of negotiation will begin, which we will guide you through, with a view to trying to agree on a price that is acceptable.

 

Agreeing The Purchase

Once your offer has been accepted, you will need to instruct a solicitor to act on your behalf. At Hamiltons Estate Agents, we have specialists in this field we work with and will be happy to introduce you to them. Your solicitor will handle all legal requirements of your purchase, known as property conveyancing. Also, at this point, you will be asked to formally identify yourself to allow us to comply with Anti-Money Laundering Legislation. Finally, if a mortgage is required, you will need to organise to make your broker/lender aware of your purchase and fill in a full application asking for a mortgage on the specific address you have agreed to purchase.

 

The Survey

It is generally the requirement of any mortgage for a surveyor, appointed by the lender, to carry out a Mortgage Valuation and basic survey before a mortgage offer can be approved/released. Even if you do not require a mortgage, it is still recommended that you instruct a surveyor to check the property is structurally sound before you purchase. The basic report is designed to provide a Valuation (i.e. determine whether the amount to be loaned by the lender is secure and also deals with the basic condition of the property). Since you, as the buyer, are also provided with a copy, it allows both you and the lender to evaluate the findings prior to entering into a commitment to purchase/lend. Should you wish for a more detailed survey to be carried out, you can often ask the surveyor acting for the lender to carry this out for you at the same time, albeit at an increased charge.

 

 

The Searches

These are paid for by you, the purchaser, and conducted by your solicitor, who submits a local authority search to the borough council in which the property is located. Its purpose is to ascertain if there have been any planning consents previously granted on the property or if there are any other local issues in the immediate areas surrounding the property which may have an impact on the purchase. In most instances, the search will also include an Environmental and Drainage search. A mortgage company will generally require all these searches, however, even if purchasing without a mortgage, we would still recommend that you have the searches carried out, to ensure you have all the information that may affect the property before concluding the transaction.

 

The Draft Contract

The draft contract is drawn up by the seller’s solicitor and is forwarded to your solicitor for consideration. The contract details the parties involved in the transaction, the price agreed, and all the relevant legal documentation on the property. Your solicitor will read through the content before asking any queries/questions they may have via the seller's solicitors about the legal title.

 

The Mortgage Offer

Once the Lender is in possession of the Mortgage Valuation/Survey Report and, subject to the findings of this report and provided all references and checks have been conducted satisfactorily, the Lender will send a formal mortgage offer to you and your solicitor. The document is then signed and returned, and funds are requested by your solicitor once a completion date is agreed.

 

Completion

Completion is usually agreed anytime up to a week or more after exchange of contracts, although sometimes they do occur on the same day as exchange if prearranged. The balance of the purchase price is transferred by your solicitor to the seller’s solicitor, and the keys released – Congratulations! You are now the owner of your new home!