The buying process is said to be one of the most stressful processes you will ever experience. Our aim at ea2 is to address this theory by assisting you through the entire buying process. Our dedicated team of professional consultants will work with you, your solicitor and mortgage broker/company to ensure the transaction is both efficient and your experience stress free.
Stage 1 - Your Purchase Budget
You must first establish a budget that you are comfortable to go to. This may be through savings, sale of an existing property or via lending from a mortgage company. If you are buying through finance then we can recommend a Mortgage broker that will be able to assist you in the latest mortgage offers available. There are also other costs to take into consideration such as stamp duty, solicitors fees, legal expenses, mortgage arrangement fees and mortgage valuation/survey fees. ea2 can recommend an independent Mortgage broker
If you would like us to request they contact you for an informal conversation and quote then please do not hesitate in contacting us.
You may also be interested in utilising our mortgage calculator to obtain an approximate idea of your mortgage costs. (mortgage calculator link)
Stage 2 - Registering to Buy
You can register either by phone, email or in person at our office. In any case one of our experienced property consultants will be able to register your details and start the search for your ideal property. Our property consultants will search for a property for you, understanding your property requirements, i.e. number of bedrooms, parking requirement, outside space, etc will assist us in finding you a property. You will be alerted to new instructions that come to market, at which point our dedicated team will arrange a suitable time with yourself and the owner to conduct a viewing. All viewings will be accompanied by one of our property consultants.
Stage 3 – Appointing a Solicitor/Licensed Conveyancer
Choosing the right conveyancer is one of the most important decisions you can make when selling or buying your home. ea2 work closely with Wilsons Solicitors LLP to offer you a competitively priced legal service designed to ensure your move is smooth and stress free. Wilsons Solicitors LLP specialise in residential conveyancing and are committed to offering a first class service with professionalism and efficiency. The service is available to all vendors and purchasers whether you are looking to stay within our local area or are looking further afield.
Ø A fixed price conveyancing quote allowing you to keep control of your moving costs.
Ø Regular updates on the sale progression of your home.
Ø Direct telephone numbers and email addresses for your conveyancer and assistant.
Ø No meetings necessary all work can be completed online, through the post, and on the phone.
If you would like us to request they contact you for an informal conversation and quote then please do not hesitate in contacting us.
Stage 4 - Making an Offer
Once you have found a property that meets your requirements then the next step would be to register your interest. An offer can be put forward verbally to one of our property consultants but ideally to save any potential confusion confirmation of your interest and offer should be confirmed by email. Your offer should include clarification of your position, be it first time buyer or other, amount of deposit, mortgage company/broker, solicitor if you have one, desired timeframe and any other stipulation as example, the inclusion of white goods, (although covered by the solicitors by way of the Fixtures and Fittings form).
Stage 5 - Offer Agreed
Once your offer is accepted we will notify all parties with a notification of sale. The appointed solicitors are now aware of the transaction. Your solicitor will then require forms to be completed and funds on account to start the process. Equally you must contact your mortgage company/broker to inform them that you have now found a property. They will require you to complete the necessary forms and funds in order to appoint a surveyor to carry out a valuation and survey.
Stage 6 – The Process
Once all parties have been instructed then the sales process begins. The time frame is normally 6-8 weeks for exchange of contracts and completion a minimum of 1 week there after. Your solicitor/licensed conveyancer will carry out the local authority searches and if leasehold review the management pack and service charge accounts supplied by the sellers solicitors. Once they have obtained all the relevant information they will be in a position to report to you and your mortgage company if applicable. Whilst the legal process is under way the mortgage company will instruct a surveyor to carry out a valuation and survey. The surveyor will arrange with us access to the property. Once the surveyor has carried out the survey they will issue to you for your perusal. Providing the report is satisfactory the mortgage company will issue the mortgage offer to you and the mortgage instructions to your solicitor. This document confirms that the mortgage company is happy to lend to you for this particular property subject to your solicitor/licensed conveyancer supplying clean searches/clean title and full filling all their enquiries. Once the mortgage offer is released and your solicitor/licensed conveyancer have completed all their enquiries you will then be in a position to exchange contracts. Your solicitor/licensed conveyancer will require you to sign the contract and supply funds with which to exchange contracts with.
The transaction process can seem complicated and overwhelming at times. ea2 have employed a dedicated team to chase the transaction from offer agreed through to completion. We aim to both process the transaction in an efficient and speedy fashion and offer our services to both solicitors/licensed conveyancer on both sides in the assistance of the transaction. We will update you regularly with the process and ensure that you are kept up to date with time frames and outstanding enquiries.
Stage 7 – Exchange of Contracts
Exchange of contracts is carried out by your solicitor/licensed conveyancer with the sellers solicitor/licensed conveyance. Upon exchange of contracts the transaction becomes legally binding between you the buyer and the seller and a completion date is set. Mortgage lenders normally require a minimum of 1 week to draw the funds down for completion.
Stage 8 – Completion
Completion takes place once your solicitor/licensed conveyancer receives the funds from the mortgage lender, (if applicable) and any other funds required from you for completion and forwards these to the sellers solicitor/licensed conveyancer. Once the sellers solicitor/licensed conveyancer has received the funds then the property has effectively changed hands and you are now the legal owner. We will receive confirmation from the sellers solicitor/licensed conveyancer of completion and instructions to release keys to you. Keys can be collected from our office along with congratulations.