Here you will find a step by step guide on how to buy your ideal home. You can always call us to ask questions or seek advice. We are here to help!
How much can I afford?
Before you rush online or to your local estate agent, speak to your bank or a mortgage broker to help you understand what you can afford and what you require.
Once your finances have been assessed you will be able to obtain a mortgage in principle. This will put you in a strong position with the seller and show that you are serious about purchasing a property.
Oakland Estates work with various lenders and mortgage brokers to help our clients get the best on their return of investment. If you would like a free consultation please call and speak to one of our advisors.
Register your interest
Now you know your budget you can begin your search. The best way to get started is to register with your local agent who cover the area you are interested in.
As an agent we cover a widely spread geographic including prime and East London property.
Following your request you will be contacted by one of our experienced representatives who will speak to you about your needs and requirements. Once you have registered you will be updated regarding any properties that match your criteria.
To register with us click here!
Now comes the exciting part! You have seen a property you like at one of our personal consultations in the offices, or through our website , via a portal such as Rightmove or Zoopla.
It’s time to take a look, one of our representative will accompany you to every one of the viewings you have with us. We feel this give our clients a more comfortable approach. As purchasing a property can be daunting to say the least and so we stay at hand to answer any questions or discuss any issues there and then.
We set longer opening hours to help suit your schedule, viewings can be booked as late as 8:00pm throughout the week and 6:00pm on weekends and bank holidays.
Make an offer!
So you have seen a property that has stolen your heart, its time to secure it! Your next step is to make an offer and discuss any condition that your require, this will be put to the seller for their consideration.
At this stage it is a good idea to notify your mortgage broker or advisor that you have found a property that your like. They will then research into it and advise you on the right questions to ask to ensure a smooth sale.
Informing your solicitors is also a good idea so they are ready for your instruction. If you have not chosen a solicitor, we have a network of conveyancing solicitors what we can recommend.
Congratulations! Your offer has been accept, it’s time to get the ball rolling! You should inform your solicitors and mortgage broker or advisor of your acceptance. The purchase process will now begin. From this stage we aim to complete on any sale within 4 – 8 weeks!
We will now arrange and complete the following;
Request solicitors and lenders details from all parties.
An introductory letter to the solicitors of each side (this informs them of the accepted sales price and introduces all parties).
A memorandum of sales (this document consists of all the information required by the solicitors to begin your paperwork e.g. names and address of both parties, mortgage broker or advisors details, our contact details as an agent etc…).
You should now inform your solicitors and mortgage broker or advisor of your acceptance. The purchase process will now begin. From this stage we aim to complete on any sale within 4 – 8 weeks!
Your offer has been accepted, solicitors instructed and mortgage provider informed. It is now time for the legal proceedings to begin. Your solicitors will oversea the property transaction and ensure for a smooth completion. At this stage your solicitor will carry out the following;
- Raise any inquiries 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
Due to our experience in the property industry we have built up a network of solicitors of which we have a strong relationship with all. On many occasions we will introduce solicitors for both parties, this helps us push for a quick and smooth sale which in return helps you get what you deserve!
Survey and mortgage offer
Once your solicitors have started their initial proceedings you will need to have a survey carried out (this may be included in your fees with your mortgage provider).
A surveyor will visit the proposed property and carry out a complete valuation, they will check for any structural issues and compare the property against those in the local area. Following this they will raise a report that will be sent to you, your mortgage provider and solicitor. Your mortgage provider will assess this and make you a formal mortgage offer.
Once you have received your mortgage offer your solicitors will exchange contracts, drafted and accepted previously in stage 6. Your deposit will then be requested (typically 10% of the sale price) by the sellers solicitors as a form of commitment to the sale. You are now reaching the final stages of your process!
Following this transaction your solicitors will agree a completion date.
This is the final stage of your sale, your mortgage provider will transfer over the outstanding funds of your sale and on clearance of them you may request your keys!
Well done and welcome to the property world!