Here is our quick guide on all you need to know about buying a property through JW Wood.
Arranging your mortgage
First things first, arrange a mortgage appointment with your financial adviser and obtain an agreement in principle. JW Wood through its partnership with the Mortgage Advice Bureau is able to access the entire mortgage market and is able to source the best mortgage deals and rates available. Please contact your local JW Wood branch to arrange a no obligation meeting.
Decide what you want/need/desire
Make two lists, the first is a list of essential 'must have' features and the second a seperate list of desirable features you would like from your new property. You're then ready to start searching...
Looking for properties
Go online, look at local newspapers or even get in the car and drive around the areas you are most interested in. All it takes is a quick phone call to arrange a viewing of one of our properties or you can even do it online through our website. If you go for a viewing jot down some notes, take photos if you want to (please remember to politely ask the vendor if thats ok) and take your time to get a feel for a property. It's a big decision you're making but when it feels right you'll know.
Making an offer
Assuming that your finances are in place and you in a proceedable position then you are ready to make your offer. Take into consideration anything that could cause issues during the deal such as the length of the pipeline (how many property sales are dependant on your purchase completing, also known as the chain) as well as checking things like access rights and local planning applications.
Once your offer has been accepted you're reayd to complete your mortgage and instruct your solicitor. The purchase of a property and the time it takes to complete is reliant on the instruction of an efficient solicitor who has a thorough knowledge of property in the area. Please ask our negotiators about JW Wood conveyancing services.
Take charge and request regular updates from your agent, solicitor and mortgage advisor - a little nudge can go a long way to making the process quicker for everyone.
As part of the conveyancing process your solicitor will do the following:
- Raise any preliminary enquiries on receipt of the draft contract from the sellers solicitor. This will include requesting sale.
- Request their own local searches.
- Agree a date for exchange of contracts and propose a date for completion.
- After the mortgage valuation report is received, a formal you will need to sign before it is returned.
- Upon your mortgage broker’s receipt of this document, your mortgage is in place.
- Remember: There are no legal obligations until contracts are signed.
Exchange of contracts can occur only when the following have been confirmed and agreed:
- Preliminary enquiries following receipt of the draft contract
- Evidence of a good title
- Specific issues highlighted in the lease, if applicable
- Local search queries
- Fixture and fittings to be included in the sale
- Your mortgage offer
Completion occurs when the outstanding monies are transferred from your solicitor to the sellers solicitors account. At this point you are able to collect keys, say goodbye to your old neighbours and notified the milkman - it's time to move into your new home...