Buyers 2017-05-18T12:19:19+00:00

Buying a Property

Buying a new property can be a complicated process. But it really needn’t be with City Quays’s help on hand, and this very simple step-by-step guide to the buying process.

Honestly, you’ll be settled into your new home quicker than you had ever imagined following these 10 simple steps!

Step 1: Get in Contact!

“City Quays will help guide you, from start to finish of the buying process.”

What we recommend as most wise for you to do is either contact us via email or phone, or simply pop in and visit us in order to register your interest and what exactly you’re looking for. It also means we can get the ball rolling straight away to bring you closer to finding your perfect property.

Step 2: Decisions, Decisions

“At City Quays, a wide range of properties for you to choose from.”

Before we begin the search it is important for you to consider exactly what you’re looking for. A few things for you to consider might be the size and type of property, the area you wish to move to, as well as transport links available.

These aspects are very important to give thought to. For example, if you have a family, then you may consider the schools in proximity to the property, or, if you are buying to let, consider the fact that tenants often look for access to amenities and good transportation links.

Step 3: Getting those finances in order

“The quicker your finances are in order, the quicker you’ll be able to act when that perfect property comes along.”

It is important to figure out exactly how much you can afford, which mortgage to choose, as well as considering and sorting out protection plans. Our advisors are happy to help you with all of these things however to make it that little bit easier for you. So just get in contact!

We have included a few costs that it are important to consider when planning your budget.

A contingency fund to cover any unexpected costs is a good idea too.

 Costs to consider

  • Agent’s fees
  • Solicitor’s fees
  • Valuation
  • Stamp duty
  • Land registry
  • Local authority searches
  • Bank transfers
  • Mortgage fees
  • Insurance
  • Removal fees
  • Disconnection/reconnection of services
  • Essential rebuilding or redecorating

Step 4: Finding the perfect property

“Once you’re certain about the type of property you’re looking for, you have the option to choose between one of the many hundreds of properties City Quays has on offer across a number of areas.”

You have the option of searching online or simply popping in to see us. We also have an email and SMS service that notifies you of properties suited to your requirements.

Once you feel you have found a property you’re interested in, we’ll arrange a viewing at a time suited to your convenience. At City Quays we run a number of these in the evenings and on weekends, designed specifically to fit around busy schedules.

Step 5: Making an offer

“Once you’ve found a property that ticks all the boxes, act quickly.”

Be sure to inform the estate agent so your details can be passed onto the seller. The seller will then consider your offer and position in terms of whether you can afford the property. We will inform you in writing if, and when, an offer is accepted.

Step 6: Offer Agreed

“Congratulations, you’ve found the perfect property!”

So, after all that searching you’ve found the perfect property, placed an offer, and this offer has been accepted. This stage is known as ‘sale agreed’.

Now at this stage a solicitor will have to get involved in order to deal with the financial aspects of the sale.

At City Quays we are more than happy to recommend solicitors to you, making the whole process that little bit easier for you.

Step 7: Conveyancing

“The process of transferral of ownership.”

This process occurs so that the property can legally be transferred from its current owners to you. As part of this process, your solicitor will do the following:

  • Raise any enquiries on receipt of the draft contract from the seller’s solicitor, and check for any inconsistencies in the lease also.
  • Request their own local searches
  • Agree on a date for exchange of contracts

At City Quays, we will ensure you are kept well informed every step of the way.

Step 8: Finalising the mortgage

“Mortgage valuation time!”

Before your mortgage lender makes you a mortgage offer, they’ll require a ‘mortgage valuation’, to ensure you are not borrowing more money than is required for the property.

Once the lender is happy, they will send you a mortgage offer detailing the terms to you and your solicitor.

Step 9: Exchanging Contracts

“You’re nearly there.”

The formal exchange of contracts agrees the terms of the sale and makes them legally binding on both you and the seller. Once this has happened, you can look forward to a mutually agreed completion date. This is when the money is transferred, and the property legally changes hands.

Step 10: Time for the Move!

“Congratulations!”

Congratulations! You are now due to be the legal owner of a new home! On or just before this day, your solicitor will pay what is owed into the seller’s solicitor’s account. Once this transfer has been confirmed, the transfer document and title deeds are yours, and everything is done and dusted!