Aspire recognises the fact the purchase of your home is the most important and expensive transaction you are likely to undertake.
Our database features all of our properties and we are sure that with our local knowledge and expertise, we will be able to find you a property to suit your needs, be it a straightforward move or a ‘Buy to Let’ investment.
To enable you to unravel the complexities of buying your home, we have set out below an overview of the various procedures involved:
The first requirement is for you to register your details and property requirements which can be achieved in a number of ways i.e. by email, fax, phone, in person of by completing our registration form.
Once registered, you are then in a position to receive details from us directly in person, via mail or email or download and print these out from our website.
Our sales teams are available to arrange those all important viewings of your selected properties. We are open at times convenient to you, until 7pm during the week and open on Saturday and Sunday by appointment.
In order to speed up your house buying process, it is advisable wherever possible; to get a mortgage agreed in principle before any final decision on your new property is made. This has the advantage of providing you with a clear indication of what is affordable and the fact that you have a mortgage agreed in principle is also attractive to sellers.
Please click here to be directed to The Mortgage Desk where C&D Mortgages and Insurance can help you further.
Making Your Offer
Once you have located your ideal property, your offer will be submitted by us to the vendor for their consideration. This is done both verbally and in writing.
NB: Please note that all offers are “subject to contract” and therefore neither party is legally bound until the contract is actually signed.
Accepted Offer/Instructing Solicitors
As soon as your offer has been accepted by the vendor, you should instruct a solicitor to act on your behalf. Your solicitor will handle all legal requirements of your purchase (property conveyancing).
At this point, you also need to formally proceed with your mortgage application and instruct your mortgage consultant/broker accordingly.
The next step is to obtain the Mortgage Valuation, as required by law. This will be conducted by a Chartered Surveyor acting for your Lender. The report is to provide a Valuation i.e. determine whether the amount to be loaned is secure and also deals with the basic condition of the property. Since you as the buyer are also provided with a copy, it allows both parties to evaluate the findings prior to entering into a commitment to purchase.
Additional Homebuyer Survey/Valuation
The survey’s purpose is to highlight any defects and problems which are likely to have an overall impact on the value of the property.
The objective of the Homebuyer Survey is to provide a more in depth report which will assist the buyer in making an informed decision whether to proceed with the purchase and also whether the agreed price reflects the actual value. Moreover, the professional opinion of the surveyor as contained in his report will also set out particular features of the property which may possibly have an affect on the present value and potential future marketability.
These are conducted by the buyer’s solicitor who submits a local authority search to the local borough council. Its purpose is to ascertain if there is any planning consented previously granted on the property or if there are any other local issues which may have an impact on the purchase.
The draft contract is drawn up by the seller’s solicitor and is forwarded to the buyer’s solicitor for consideration. Any additional queries or questions will be asked and answered and the contract amended accordingly, subject to final approval.
The Lender is now in possession of the Mortgage Valuation survey and, subject to the findings of this report; receipt/approval of the mortgage application and provided all references and checks have been conducted satisfactorily, the Lender will send a formal mortgage offer to the buyer and their solicitor. The document is then signed and returned and funds requested by the buyer’s solicitor.
Exchange of Contracts
Once the contract has been signed by both parties, a deposit (normally a small percentage of the purchase price) is paid by either bank transfer or banker’s draft. At this stage, the parties agree on a date for completion.
Completion usually follows a few days or weeks after exchange of contracts. The balance of the purchase price is transferred by the buyer’s solicitor to the seller’s solicitor and the keys released – Congratulations! You are now the owner of your new home!