Citydeal
Estates
113 Churchfield Rd,
Acton, London W3 6AH
Tel:020 8896 1993
Fax:020 8993 8347
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Buyers
Please
find below a list of steps that you should go through when buying
a new property. We recommend that you register
your details with us so that we may contact you should we find
a property for sale that meets your requirements.
Steps
to buying a home
- Decide
on the property type and location that interests you
- Agree
a mortgage (in principle) with a mortgage
lender
- Do
your homework! Calculate the cost of buying a property and moving
in
- Register
with us
- Choose
a solicitor and inform them of your intention to buy
- View
you potential dream homes
- Once
you have found the place you would like to buy, make an offer
- We
will state your offer and tell you if and when your offer is accepted
- Once
the offer is accepted instruct your solicitor to act
- Your
solicitor contacts the sellers solicitor requesting title deeds
and initiates contract negotiations
- You
now make a formal mortgage application
- Your
mortgage lender will request a surveyor to carry out a mortgage
valuation on the property
- Choose
a surveyor and pick the type of survey you want
- Your
mortgage lender accepts the valuation report, and agrees the loan
- Your
surveyor forwards a report on the property for you
- You
decide to proceed with the purchase on the basis of that report
- Arrange
buildings insurance, to be in place
upon exchange of contracts, this can be arranged through us.
- Your
solicitor carries out a local authority search and makes enquiries
into the property’s fixtures and fittings
- Your
solicitor finalises contract details with the sellers solicitor,
this will be held until the exchange date
- Contracts
are exchanged; your solicitor sends the deposit and sets a completion
date. If you back out now you lose your deposit.
- Your
solicitor requests that your mortgage lender makes funds available
on the completion date
- Your
solicitor finalises searches on the property
- Your
solicitor prepares the transfer deed; signed by you and the seller.
It is held by the seller’s solicitor until completion
- You
instruct your bank to transfer any funds not covered by the mortgage
- Your
mortgage lender transfers funds to your solicitor’s account
- On
the completion date, your solicitor transfers funds in return for
the transfer deed, Land Registry certificate and keys
- You
arrange contents insurance to start
on the day you move into your new home
- Your
solicitor pays the Stamp Duty, has the transfer deed stamped, then
sends it to the Land Registry to record you as owner
- Your
solicitor passes the title deed to your mortgage lender as security
and sends you a bill
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