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BUYING GUIDE

Are you looking to buy a property but not sure where to start? Read our step by step guide to the process of buying a property and find out all you need to know.

Step 1: Arranging your mortgage

Deciding to buy a new home is exciting. Before you start with your property search, it's best to know how much you can afford to spend. A financial advisor or personal bank is the perfect place to start. At this point, you should be able to obtain a mortgage in principle and this puts you in a strong buying position by showing the sellers that your finances are in place.

Royston and Lund work closely with Oliver Jones Associates Ltd who are Mortgage Specialists so why not talk to them and let them do all the hard work for you. As they have access to the whole of the market they can find you the most competitive mortgage deal to suit you. Contact our office for further details.

Step 2: Register for instant property alerts

Once we have a clear understanding of your requirements we will keep you updated with suitable properties via email and SMS alerts.

Register with Royston and Lund by contacting the office or filling in the contact form below, that way we can inform you in advance of properties coming onto the market. We also upload all of our properties for sale to the leading portals such as Rightmove, On the Market, and many more.

Step 3: Let the viewings commence

The buying market is always competitive so we would always encourage an early viewing to secure your dream home. We'll do everything we can to ensure you see a property within the quickest timeframe possible. We are happy to answer any questions and you have and we will ensure you have all the information you require about the process of buying a house.

Step 4: Making an offer

Finding your perfect home can be a really exciting time and the next step is to secure the property! Contact us to put your interest forward on your chosen property and we’ll advise you on how to proceed. Your offer will be put forward both verbally and in writing to the vendor, stating any special conditions. Once your offer has been accepted you will need to instruct a conveyancing solicitor. It is essential that you instruct someone you can trust to work with you to make the process as easy and stress-free as possible. If you would like a recommendation, we can confidently recommend one of solicitor’s practices that we frequently work with

Step 5: Sale agreed STC

Even when an offer is agreed, Royston and Lund will still be working hard to progress the purchase. We will:

  •   Prepare a memorandum of sale confirming the agreed price and any conditions in writing
  •   Ask you to confirm which solicitor you will be using
  •   Ask you to provide mortgage details and proof of deposit
  •   Ask you to provide identification for all parties involved in the purchase

Now is the time to instruct your chosen solicitor and your mortgage lender or broker.

Step 6: And now for the legal part

A solicitor will ensure that you legally own the property you are buying and will oversee the transfer of funds from buyer to seller. Your solicitor will also become a key mediator. They will:

  •   Raise any enquiries on receipt of the draft contract from the seller's solicitor
  •   Request their own local searches
  •   Refer to the information already provided in the seller's pack
  •   Advise on all matters through to completion

Step 7: Survey and mortgage offer

Most buyers will instruct a survey and if you are obtaining a mortgage then this will be essential. A surveyor will visit the home you want to purchase to evaluate the building condition and price. 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 and they are satisfied with everything, they will issue a formal mortgage offer – a copy will be sent to you and to your solicitor. Make sure you sign this and return it as soon as possible. There are no legal obligations until contracts are signed.

Step 8:Exchange of contracts

Once all enquiries have been answered and a formal mortgage offer received by your solicitor, exchange of contracts can take place. Once all parties in the chain have signed their contract, your deposit (normally a minimum of 10% which will be with your solicitor) will be telegraphically transferred to the seller’s solicitor. At this point a completion date can be agreed, this is the date on which you plan to move in.

Step 9:Completion

Your solicitor will send the fund over to the seller’s solicitor and once the funds have cleared, we can hand over the keys to you – the new home owners. Congratulations!