Step by step guide to buying property

• Arranging your mortgage

Before you start looking for a property to purchase it’s important to have a clear idea of how much you can afford to spend and to have a mortgage agreed in principle if one is required. This will help ensure that any offer you make will be taken seriously, something that’s particularly important when multiple buyers are competing for the same property. At Patron Real Estates we recommend using independent mortgage advisors. They have access to the entire market and exclusive rates to help find you the best mortgage deals available.

• Register your interest

Once your finances are in hand, next you need to register with Patron Real Estate by phoning or visiting our office to discuss your property requirements in detail. You can also register online by clicking here . With a wide range of properties to choose from, we are confident we can help you find exactly what you’re looking for.

• Finding the right property

As soon as you have registered, we will send you a choice of properties that match your criteria. And, if you register to receive property alerts, we can keep you constantly up-to-date via email when suitable properties come onto the market

• The key to successful viewings

One of our experienced negotiators will always be on hand to accompany you on viewings in order to answer any questions you may have. Our UK offices are open from 8:45am-6pm Monday to Sunday . However we appreciate that these times may not always be convenient if you work long hours, so we are very flexible and will endeavor  to arrange viewings outside these hours if necessary.

• Instructing a solicitor

The successful purchase of a property can often rely on the instruction of an efficient and experienced solicitor. It is sensible to appoint a solicitor who is familiar with the area you’re moving to and specialized  in conveyancing. At Patron Real Estates, we can recommend a number of tried and tested solicitors who can assist with your purchase if required.

• Making an offer

As soon as you have found a property you would like to purchase, we will put your offer forward to                     the seller, both verbally and in writing, clearly stating any special conditions you may have. At this time  you may need to demonstrate your ability to proceed with the purchase by providing evidence of   appropriate funding, e.g. a mortgage agreed in principle.

• Offer agreed

Once any negotiations have taken place and your offer is accepted, we will write to all parties to confirm the agreed price and prepare a memorandum of sale. At this stage we will ask you to confirm your solicitor’s and mortgage broker’s details. You should then ask your mortgage broker to proceed with your mortgage application (if relevant) and instruct your solicitor to begin the conveyancing process.

• Conveyancing

As part of the conveyancing process your solicitor will do the following:

• Raise any enquiries on receipt of the draft contract from the seller’s solicitor
• Request their own local searches
• Agree on a date for exchange of contracts
• We will assist your solicitor and negotiate throughout the process, keeping you informed every step of the way.

• Survey and mortgage offer

If you are funding your purchase with a mortgage, an independent valuation will be carried out by a surveyor on behalf of the mortgage lender to ascertain the property’s value. Whilst this report could possibly touch on structural problems that are immediately apparent, it’s generally advisable to upgrade the valuation to a homebuyer report or full building survey for extra peace of mind. If you are buying with finance already in place, it’s still important to get a professional survey of the property carried out to ensure there are no unexpected surprises further down the line.

After the mortgage valuation report is received, a formal mortgage offer will be sent to you and your    solicitor which you will need to sign and return.

• Exchange of contracts

When everything has been agreed, exchange of contracts can take place. When the contract has been signed by both parties and the deposit (usually 10% of the purchase price) paid, the completion date can be set. If you back out of the purchase now for any reason you will forfeit your deposit.

• Completion

On the day of completion, the balance of the purchase price (usually 90%) is transferred from your solicitor to the seller’s solicitor’s account and, once the funds have cleared, keys to the properties are released and you will be the legal owner of your new home!