Buying a house is often complex and confusing; no matter how many times you’ve been through the process. The first step is to ensure you know exactly how much you have, or can afford, to spend. A chat with an independent financial advisor or your own bank is always a good start but should you need a second opinion we have access to an independent mortgage company that can quote on some of the most competitive mortgage deals on the market. If this is of interest do please ask any member of Hotblack Desiato team who would happily pass on their details. Once assessed you should have a mortgage in principle which then puts you in a strong position when you find your perfect home.
Register your interest
Register your requirements with Hotblack Desiato giving as much detail as possible. Once we have a better insight as to your requirements we can then keep you updated with suitable properties as and when they come to the market via phone and email. Naturally you can browse our website and leading property portals such as Zoopla and Rightmove
Start your property search wide
Once the updates start coming in it’s never a bad idea to see as many properties as you can so you have a good idea what is on the market. Hotblack Desiato will ensure you don’t miss an opportunity to view and to this end do viewings after (and before) the normal working hours and on Sunday by appointment. All viewings are accompanied so should you have any pertinent questions to assist with decision making one of our negotiators will be on hand.
Making an offer
Once you’ve found your perfect home the next step is to make an offer. Hotblack Desiato put all offers forward to the vendor initially by phone and follow up with a letter and/or email. We will let the vendor know your buying position (encumbered or unencumbered) along with your financial position (cash or mortgage). It is then up to the vendor to agree or not.
Once your offer is accepted the next stage is arranging solicitors, survey dates and desired exchange and completion dates. Your chosen solicitor will liaise with the vendors solicitor to confirm they are instructed and request a copy of the draft contract and any other details including deeds, lease, questionnaire, fixtures and fittings schedule, proof of planning permission, guarantees, freehold certificate, service charge accounts and building insurance where applicable. . They should also carry out property searches, local authority searches, environmental searches and additional local authority questions!
A large majority of purchasers will have a Homebuyers report or survey and if you are getting a mortgage then this will be compulsory. This usually comprises a current valuation of the property as for the open market, background information on the property and location, an estimate for the cost of re-building the property for insurance purposes, an assessment of any damp-proofing, drainage or insulation in the building, condition of the building’s timbers and checking woodworm or rot and any details of major faults in easy to get to parts of the property that may affect its value. The surveyor will file a report that goes to the mortgage lender and to you, the buyer.
Once your mortgage lender has received its copy of the report, they usually issue a formal mortgage offer which is sent to you and to your solicitor. This needs to be signed and returned as soon as possible.
Once all enquiries have been answered and a formal mortgage offer received by your solicitor, contracts can take place. However, before signing the contract your solicitor will need to ensure that all enquiries have been returned and are satisfactory, that fixtures and fittings included in the purchase are what your expected completion date has been agreed between the two parties along with sending over your deposit to the buyers solicitors.
Completing your purchase
Completion takes place once your mortgage lender has transferred the balance of the property purchase to the vendors. This usually happens around about midday and once the monies have cleared in the vendors account we can hand the keys over to you. Happy days!