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Guide To Buying

Buying can be daunting, but here at Staffordshire Knot Estate Agents we will help you through it and make it as stress-free as possible. Check out our handy guide to buying a new home so you know what to expect.

1. Register to get your competitive advantage

The Staffordshire sales market can be extremely competitive and fast-moving, but we can give buyers that register with us an unfair advantage.

By registering your requirements we can help you be the first through the door of newly listed homes.

2. How much can you afford?

Before you begin searching it is advisable to arrange your finances and, if required, have a mortgage agreed in principle.

We’ve put together an illustrative calculator to help you establish just that figure. It’s not a definitive sum but we will be more than happy to refer you for something more accurate.

3. Are you selling too?

If your move will involve selling your current home it is advisale to advertise your current property before looking for a new home.

Being ready to sell means you are less likely to miss out on your dream home. If you’ve not already asked us to book a valuation, now is the perfect time.

4. Find the right property

There’s new listings in Staffordshire each week, we’ll help you find the right property.

We can also keep you constantly up-to-date via email, even before properties get listed on Rightmove and Zoopla.

Register with us today so you don’t miss out.

5. Instruct a solicitor

A successful purchase relies on an efficient and experienced solicitor.

If you don’t already have one lined up we have hand-picked our own for their expertise, speed and efficiency.

6. Making an offer

Once you find your perfect property you can make an offer online or with your agent.

Let us know if there any special conditions of the offer and we’ll communicate this to the seller.

At this point you may need to demonstrate that you can proceed by providing evidence of your mortgage in principle and solicitor details.

There are no legal obligations on either side until contracts are signed.

7. Offer accepted

Once you accept an offer we will do the following:

  • Prepare a memorandum of sale
  • Confirm the agreed price with all parties
  • Confirm your solicitor & mortgage details

You will now need to instruct your solicitor to proceed with the conveyancing process and your mortgage broker to proceed with your application.

8. Conveyancing

As part of the conveyancing process your solicitor will do the following:

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

We will assist your solicitor and negotiate throughout the process, keeping you informed every step of the way.

9. Survey and mortgage offer

A survey of the property will be booked by a surveyor on behalf of the mortgage lender to identify any structural problems and advise on the property’s value.

After the mortgage valuation report is received, a formal mortgage offer will be sent to you and your solicitor which you will need to sign before it is returned.

There are no legal obligations until contracts are signed.

10. Exchange contracts

Exchange of contracts occurs when all enquiries have been confirmed and agreed.

Once the contract has been signed by both parties the deposit (typically about 10% of the purchase price) will be transferred online or paid in the form of a banker’s draft from your solicitor to the seller’s solicitor.

The completion date is then set by mutual agreement.

11. 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.

Congratulations, you are now the legal owner of your new home!

"We love to introduce sellers to buyers, landlords to great tenants and people with homes they love whilst giving the majority of our profits to your favourite charities. We really are one of a kind in Staffordshire with an outstanding approach"

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01782-980730

lets.talk@staffordshireknotestateagents.co.uk

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