Buying
A Simple Guide to Buying a Property with Agentia
1. How Much Can You Afford?
Before you start looking for your dream home, it's important to know how much you can borrow. If you’re planning to get a mortgage, we can connect you with trusted local mortgage brokers who can discuss your options and help you figure out the right budget.
Once your mortgage application is approved, you'll receive a mortgage agreement in principle. This document confirms how much you can borrow and gives you the green light to start your property search and make offers.
2. Making an Offer
When you find a property you love, making an offer is easy! Just contact a member of our team, and we'll guide you through the process. At this stage, we'll need to verify your offer by asking for a copy of your mortgage agreement in principle or proof of funds, along with photo ID and proof of address. We’ll then present your offer to the seller and keep you updated on any developments.
3. Offer Accepted
Once your offer is accepted, we’ll issue a ‘Memorandum of Sale.’ This document outlines the details of the sale, including the parties involved, the agreed price, and the conditions of the sale. It will be sent to all solicitors involved, signaling the start of the legal process.
4. Choosing a Solicitor
You’ll need a good solicitor or licensed conveyancer to handle the legal side of your purchase. If you don’t have one lined up, Agentia can recommend reputable local solicitors to help you through the process.
5. Survey and Valuation
If you're getting a mortgage, your lender will arrange a valuation survey to ensure the property is worth the loan amount. Once the lender is satisfied with the valuation, they’ll send you and your solicitor a formal mortgage offer.
If you're buying with cash, and need a survey, we can recommend a local surveyor to assist you.
6. Sales Progression
Our sales team will stay in touch with everyone involved, providing regular updates to keep things on track and ensure a smooth purchase process.
7. Exchange of Contracts
When your solicitor is ready, a date will be set for the ‘exchange of contracts.’ On this date, a non-refundable deposit is transferred to the seller’s solicitor, and both parties sign a legally binding contract. Keep in mind that if you decide to back out after this point, you would lose your deposit and might face legal action for breach of contract.
8. Completion
Before the exchange, a completion date will be agreed upon by both you and the seller, as well as any other parties in the chain. This date could be the same as the exchange of contracts or a few weeks later. Agentia will help coordinate this between all parties.
Once the lender releases the funds, they will be transferred to the seller’s solicitor. As soon as the funds are received, completion is confirmed, and a member of our team will arrange for you to collect the keys.
Trust Agentia to Guide You
Buying a property can feel overwhelming, but with Agentia by your side, you can relax knowing that we’ll guide you through every step of the journey.
