Arrange.. a valuation

Arrange.. a valuation

search for houses

Caversham 0118 947 0511

 

With you at the start of the journey

Buying

Step-by-Step Guide to Buying Property

Step 1 – Register with Walmsley

Call us at one of our branches (Caversham: 0118 947 0511, Woodley: 0118 969 8486) or email us to register. We can discuss your property requirements, and once we have your details, we can email you new properties as they become available and keep you up to date on all developments.

Step 2 – Arrange Your Mortgage

Before you begin your property search, it’s always a good idea to get your finances in place. If you intend to purchase with a mortgage, securing a mortgage in principle will let you know the price level you will be able to buy at.  This is vital information for your property search. We are happy to recommend our independent financial advisor Dean Tanner of Masterplan Financial Services to you, please contact us if you would like an appointment to be arranged.

Step 3 – Finding the Right Property

Let us know as soon as we have contacted you with a property you like, and we will arrange a viewing for you at a convenient time – we can even chauffeur you to it in one of our company cars.

Step 4 – Informative Viewings

Our sales team have in depth knowledge of both the properties we sell and the local area, so on viewings they will be able to conduct you through the property in an informed manner, and will be able to answer any questions that may arise.

Step 5 – Making an Offer

Once you have found your ideal property, put an offer forward. We do require offers in writing, so once you have verbally provided us with an offer, we will ask you to email us also. We will want to know:

  • Your offer level
  • Details of your situation – such as whether you are in rented accommodation or have a property to sell (if so, we will need your estate agent’s details)
  • Timescales
  • Any conditions you wish to attach to your offer
  • Your financial arrangements – eg whether you have a mortgage in principle or will be purchasing in cash. We will need to check your financial viability, so do let us know the contact name and number of whoever has been assisting you with arranging your finances
  • Anything you feel may recommend you as a buyer

Once we have received your email, we will put your offer forward to our vendor.

Step 6 – Offer Agreed

Once your financial viability has been confirmed and we have been instructed to accept your offer:

We will -

  • Require your solicitor’s details
  • Prepare a memorandum of sale, writing to all parties to confirm the agreed sale price, any conditions attached to the sale, and  the solicitors who will be acting on behalf of each party

You will need to - 

  • Put money on account to your solicitor to enable them to finance local searches
  • If you are purchasing with a mortgage you will need to fill in and return your application forms, and provide payment for any arrangement fees and the valuation survey.

Step 7 – Conveyancing

Once instructed your solicitor will:

  • Raise any enquiries on receipt of the draft contract from the seller’s solicitors
  • Request local searches
  • Agree on a date for exchange of contracts

We will liaise with you and your solicitor throughout the conveyancing process, keeping everyone involved up to date with all developments and addressing any problems or queries which may arise.

Step 8 – Survey and Mortgage Offer

Your mortgage company will arrange for a mortgage valuation survey to be carried out on the property to confirm the property’s value. If you wish, you can also arrange for a more in-depth, private survey to be carried out on the property – we can supply you with contact details of local surveyors who would be able to help you with this.

Once the mortgage valuation report is received, a formal mortgage offer will be sent to you and your solicitor, which you will need to sign and return to your chosen mortgage lender.

Step 9 – Exchange of Contracts

Exchange of contracts takes place when all enquiries have been confirmed and agreed. Once the contract has been signed by both parties, your solicitor will arrange for the deposit (usually 10% of the purchase price) to be telegraphically transferred or paid in the form of a banker’s draft to your seller’s solicitor.

A mutually convenient completion date will then be confirmed.

Step 10 – Completion

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.

You are now the proud owner of your new property!