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A Few Points to Guide you through the Purchase of your new Home

A. Purchase of your new Home

1. The first thing to do
   Is to speak to a qualified Financial Adviser and he will ascertain how much you are able to borrow on the information you give to him.
   
   
2. Check out the area
   That appeals to you, travelling distances to work and schools and also affordability areas even if 1 to 2 miles apart can vary considerably on price.
   
   
3. Register on our website
   www.warmingham.com or alternatively come into our High Street office where we will take your details and match your requirements with the properties we have available or advise you of new properties coming onto the market. Thereafter you will be put on our mailing list and you will be emailed or sent by first class post any new properties in your price range.
   
   
4. Viewing
   Any properties you are interested in we will arrange an accompanied viewing with a member of our sales team who will show you around and answer any queries you may have if we don't know the answers we will find out for you then come back to let you know.
   
   

B. Putting Forward An Offer

1. Once you have found your ideal home you can make an offer, indicate what it is subject to i.e. contract, mortgage, structural survey or sale of property we will then put it forward to the vendor having taken all your relevant details to enable us to put your offer forward in the best light possible.
   
   

C. Once Your Offer Is Accepted

1. Once your offer is accepted be absolutely clear what is included in the purchase price as this can cause upset at a later date if misunderstanding occur. Communication between all parties is vital and we will be keeping in touch with you each step of the way.
   
   

D. Instructing A Solicitor

1. It is a good idea to use a local solicitor as he knows the area well and this will be helpful with local searches etc. Do remember that when the solicitor gives you an estimate of his fees that the one who quotes the lowest fee is not necessarily the best one to use.
   
   
2. We are happy to recommend good solicitors who we trust and worked with very effectively to ensure a smooth and trouble free transaction.
   
   
3. The Solicitor will ask you to read through and sign his terms of engagement if you are happy with these he will then request payment in advance to enable him to carry out the local searches and the Land Registry search.
   
   

E. Sending Out The Memorandum Of Sale To All Parties

1. First of all decide if you are purchasing in sole or joint names and we will then confirm to all parties, vendor, purchaser, respective solicitor all the agreed details, price, timescale what is included if anything and what it is subject to i.e. sale of property, a mortgage and what percentage required or structural survey. N.B. it is always subject to contract.
   
   
2. If a chain is involved be aware of any dates agreed or any holiday dates to be taken into consideration. All parties have to exchange and complete simultaneously.
   
   

F. Filling In Your Mortgage Application For Your Chosen New Home

1. Make a return visit to your Mortgage Adviser fill in the forms and give him the Mortgage/Home Buyers valuation fee. This means that everything can then be processed without delay. Any other issues ascertaining to your mortgage he will discuss with you.
   
   

G. Mortgage Valuation/Home Buyers/Full Building Survey

1. Your new mortgage lender will need to visit your prospective property to do a valuation the lender instructs a panel of surveyors who will ring to make an appointment via us, and who will ask us for three comparables for similar properties sold. We need to justify to him the price you are paying is realistic, you may also choose to have a more detailed report either a Home Buyers or if the property is particularly old a full structural survey.
   
   

H.Solicitors Enquiries

1. Your solicitor will raise enquires about your proposed property requesting any documents on extensions, new windows (Fensa certificates), boundaries etc.
   
   

I. Searches

1. The searches that you paid for earlier will check for any potential new development, planning history, drainage septic or mains and a new chancel search, all of these can take approximately 3 to 4 weeks.
   
   

J. Approving The Contract

1. On receipt of the answers to preliminary enquires, local searches etc and in the absence of no further enquiry your solicitors will approve the contract.
   
   

K. Mortgage Offer

1. Hopefully by now you should have received your mortgage offer it may be a conditional one and you need to take careful note of anything they have insisted be done before you can receive the funds. N.B. Your solicitor will not exchange until you have a written mortgage offer.
   
   

L. Building & Contents Insurance

1. Your mortgage lender will also need you to have Building and Contents Insurance as it needs to be in place from exchange of contracts.
   
   

M. Mortgage Offer

1. This will be forwarded to your solicitors for you to sign, once this is done your solicitor will then be in a position to exchange contracts subject to going through the contract and approving it, you need to also have cleared funds i.e. bankers draft for your deposit. If you just give him a personal cheque it can take up to 5 working days to clear and hold up exchange unnecessarily.
   
   

N. Signing The Contract

1. Both partners must sign the contract before exchange unless you have made special arrangements with your solicitor i.e. given him written power of attorney to do so on your behalf.
   
   

O. Agree A Completion Date

1. Obtain various quotes from removal companies. We can recommend a number of these who people have used and were happy with their services. Check their availability but do not book formally until you have agreed an exchange and completion date with your solicitors and all the other parties involved.
   
   

P. Finally Exchange Of Contracts

1. Once you have formally signed your deposit is forwarded to the selling solicitor along with the signed contract. At this stage you are now legally bound to your purchase and cannot withdraw without financial loss. You have legally exchanged and should confirm to your chosen removal company you have done so.
   
   

Q. Inform Utilities And Send Out Change Of Address Cards

1. Write and confirm to all relevant companies and arrange for the meters to be read on completion date you may also need to re-direct your mail so nothing important goes astray.
   
   

R. Completion Day

1. On completion day we cannot release the keys we hold until we have been formally advised that your purchase monies have been received by the sellers solicitor. This is usually around 12 to 1pm but can be later if the banking system is busy. Once we have heard we will ring you and ask you to come and collect the keys.
   
   

Congratulations you have just completed on your new home!