A brief guide to buying a home

Budgeting for your move

Whether you are buying without selling or are just buying you will need to work out your finances. If you need a mortgage you will need to speak to a Mortgage Adviser. AFK Estates can assist in arranging an appointment to see an independent mortgage advisor early in the process. If you don’t require a mortgage it is sensible to think through all the potential moving costs you might incur such as Stamp Duty, legal fees, agents fees, removal costs etc as you plan your budget.

Arranging your solicitor

It is advised that you arrange a solicitor early on in the process so a file can be opened in readiness. AFK Estates can recommend an excellent local solicitor. Please ask for a quote.

Agreeing a purchase

When you have found a suitable property an agent will check a buyer’s ability to proceed. If you are selling it will mean speaking to other agents in your chain. If you don’t need to sell we will ask for proof of funds. Once all the information is to hand we will write to all parties to confirm the sale and then the legal progress commences.

Arranging a survey

If you require a mortgage on your purchase your lender will be arranging a mortgage valuation. In addition you may require a survey.

Legal work before exchanging contracts

Once instructed the solicitors will commence work on progressing the sale. This will involve arranging searches, raising and answering enquiries, checking through all documents and, if mortgage finance is required, dealing with the relevant financial institution. This process should take on average between 4-6 weeks.

Exchanging contracts

A sale is not legally binding until this point. At exchange of contracts it does become legally binding and a moving / completion date is set. This is the date to confirm your booking with your removal company and to notify your contacts of your new address and moving date.

Completion / Moving date

This is the date you get the keys to your new home. Agents cannot release the keys until they have had confirmation from the solicitors that the monies have arrived. The usually happens in the middle of the working day (between 11am and 3pm).