Before you start you property search you should have a clear understanding of what you can afford and if you already have a mortgage, you should clear about any pitfalls of changing mid-term. Understanding what you can afford and all the associated costs will ultimately influence what properties you view. At Adams we work in conjunction with the Mortgage Advice Bureau who have access to whole of market, as well as exclusive products. They will be pleased to offer reliable and impartial advice to find you
Register with Adams
Once you know what you can afford and have an idea of what you are looking for it is time to begin your search. You can register your details by contacting your local branch. They will take all your details and make sure you receive details of properties that match your requirements. It is important to remember that not all our listing go live on the property portals straight away. By being a registered applicant you are sure to receive all new properties whenever they come available.
Before arranging a viewing of a property we suggest, if possible, to drive to look at the outside, the general area and perhaps even go back at different times of day. If satisfied then arrange a convenient viewing time with your local Adams branch. Check to see if you will be meeting the homeowner or the agent there and have a list of questions ready.
Making an Offer
If you have found a house you like, don’t waste any time and make an offer. The estate agent is duty bound to put forward ANY offer that is made to the home-owner. It is the home-owner who will decide what offer is acceptable. Your ability to proceed quickly, together with a fully-funded offer, will put you in a good position. Having proof of funds or an ‘Agreement in Principle’ from a mortgage lender will assist.
Instructing a Solicitor
Your Adams branch will be able to recommend a solicitor that is both efficient and thorough. Also, it does help if they have a good knowledge of the local area as they can advise sooner of any potential issues. Remember the cheapest is not always the best, select a solicitor that you can work with and will give you regular updates.
Once the sales is agreed you should expect the following:
A memorandum of sale will be sent to all parties confirming the relevant details of the sale
You will be required to confirm your mortgage details (if applicable)
You will need to make contact with both your solicitor & mortgage broker (if applicable) to give instructions to proceed
Following the initial agreement of the sale, you should expect the following:
Your solicitor will receive a draft contract from the sellers solicitors and will raise their enquiries
Your solicitor will request local searches
Any fixtures and fittings to be left/purchased separately will be agreed.
Assuming there is a mortgage, the lender will instruct a surveyor to carry out a survey of the property
A formal mortgage offer will be sent to you and your solicitor once the valuation report is received. You will need to sign and return it to the lender.
A date for both exchange and completion will be agreed
Adams Sales Progression Team will liaise with all parties throughout the transaction and keep everyone informed
Exchange of Contract
At this point the sale becomes legally binding on both parties. It will only occur when the following stages have been completed:
All enquiries have been dealt with an confirmed
Your solicitor has confirmed good title
If applicable issues dealt with in any lease
Searches are complete and satisfactory
Fixtures and fittings are agreed
Your mortgage offer is complete (if applicable) or cash funds are made available
Once buyer and seller have signed the contract a deposit (normally 10% of the purchase price) is transferred from your solicitor to the sellers solicitor. Completion date is then agreed and set between both parties.
The balance of the monies are transferred from your solicitor to the sellers solicitor. Once received the sellers solicitor will call to confirm that all the monies are received and the agent can release the keys. The house is now yours – CONGRATULATIONS!
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