Purchasing your home, the milestones

These may seem very simple to the experts, but a quick fresh is advised!

Before starting to look for your home it is best to understand what is realistic for your income and the deposit that you can put down.  An independent Financial Advisor will be able to give you an idea what you can borrow and the best rates available.  If you have a property to sell this will need to be valued, you will also need to take into account additional major outgoings. 

Whether it is via the net, or viewing with a local agent, if you have made a decision you need to make an offer to the estate agent, this will be conveyed to the vendor. The negotiator or agent will come back to you and say whether your offer was accepted.  If it was this will be confirmed by letter, and the estate agent will pass on your solicitors details.  You will need to confirm  your mortgage, they will require a survey which you must instruct to be done.
If you are buying a newly constructed home the company should be able to give you an approximate completion date but sometimes this may be adversely affected by weather conditions.

There are a number of local solicitors who have well established credentials but not all can carry out conveyancing work.   Yellow pages lists local firms but sometimes personal recommendation is better.

Your financial advisor will inform you of the information required by your mortgage company. As your mortgage offer is reliant on this information, you will want to monitor the progress of your survey. Your financial advisor should keep you informed of the progress of your mortgage application. Once you have your mortgage offer you will need to sign and return the agreement. Please keep your legal advisor and Hildon Estates informed.

Your solicitor will ask you to review the paperwork and ask any questions you may have.  A contract will be prepared for you to sign.  This is the point at which your deposit will be required and where the purchase becomes legally binding agreement.  The money will need to be a bankers draft which sometimes needs to ordered ahead of time.  The draft is a guaranteed cheque issued by the bank and is an immediate payment.

To exchange contracts with the vendor your solicitor will need the signed contract and the cleared deposit funds.  He or she will then make arrangements with the mortgage company to draw down the funds in preparation for an agreed completion date.  Exchange will then take place.
You will need to consider insurance for the property both for buildings and contents.  The solicitor will probably ask for proof of these arrangements, the bank or building society is likely to offer you their own policy.

Most people moving house use professional movers who will quote you a price depending on the quantity of household goods to move and the distance involved.  Sometimes other conditions are taken into account such as many steps or remote parking arrangements, note that Fridays is the most expensive day as it is the preferred weekday for solicitors to complete!.   It is wise to check what the insurance will be covering your property as damages can occur whilst in transit.  If it is your intention to pack yourself  it is important to allow enough time and packing materials to make this possible.  The transport and lifting skills also need to be considered.

Whilst every effort can be made to write and inform banks and family about your new address inevitably someone will be overlooked.  The post office offers a fair priced redirection service which will avoid loss of important mail.

Once your solicitor has confirmed receipt of completion monies he or she will telephone you to arrange a convenient time for handover. Hildon Estates will meet you at your new home, hand over the keys to your property.  Utility readings will be taken at this meeting and passed onto to the service companies.  At your leisure you can change either the type of meter you have or the company that provides your power.

Moving in to your new home can be both tense and very exciting.
Our aim is to remove any tension there may be by making the handover as smooth and simple as possible.