Buying Guide
Step 1: Arranging your Mortgage
Firstly we would advise you to arrange your finances and, if required, arrange a mortgage agreed in principle prior to starting your property search. This will enable you to set your budget correctly.
We can put you in touch with a local mortgage advisor if required.
Step 2: Register your Interest
We would advise that firstly you register with us for property updates by either calling us on 02476 652 200 or visiting our office and we will input your search requirements into our online database and you will be automatically updated on suitable properties. You can also register by clicking here.
Step 3: Finding the Right Property
After discussing your requirements, we will keep you up to date via email/post or by phone with new properties onto the market that match your criteria.
Step 4: The Key to Successful Viewings
We offer a dedicated and unrivalled service 6 days a week. Our office is open 9.00am – 5.30pm Monday to Thursday, 9.00am – 5pm Friday, 9.30am – 1.30pm Saturdays.
We highly recommend an early viewing appointment in order to secure a property. We will accompany you to your viewing appointments ensuring we are on hand to answer any questions immediately and advise where needed.
Step 5: Instructing a Solicitor
Choosing an efficient reliable solicitor can be key to the success of purchasing a property. We are happy to recommended tried and tested local solicitors.
Step 6: Making an Offer
Once you have informed us of your offer we will put it forward to the seller verbally. We will also state whether there are any special conditions to your offer. It may be requested that you prove you are in a position to proceed. For example by providing proof of cash funds or evidence of your mortgage agreed in principle.
Until the contracts are signed there are no legal obligations.
Step 7: Offer Agreed
Once your offer is accepted we will write to all parties to confirm the agreed price and possible conditions of offer. We will ask you to confirm your solicitor’s and mortgage broker’s details so we can prepare a memorandum of sale.
Next you will need to instruct your solicitor and ask your mortgage broker to proceed with your application.
Step 8: Conveyancing
Your solicitor will deal with the conveyancing process and we will help assist. We will keep you up to date along the way.
Once your solicitor receives the Contract Pack from the Sellers’ Solicitors they will apply for searches and ask the sellers’ solicitors questions about the property.
When your solicitor receives answers back from the seller’s solicitor they will be sent to you along with reports from the search results
Step 9: Survey and Mortgage Offer
A surveyor will conduct a survey of the property on behalf of the mortgage lender. They will advise on the properties value and notify if there are any structural problems.
A mortgage offer will be sent to you to sign once the mortgage valuation report is received.
Step 10: Exchange of Contracts
Exchange of contracts will take place once:
- There is evidence of a clean title
- All queries over the lease and local searches are addressed.
- Fixtures and fittings to be included in the sale are agreed
- You have received your mortgage offer
- Both parties will sign the contract and then the deposit (usually 10% of the purchase price) will be transferred to the seller’s solicitor.
By mutual agreement, the completion date is set. Contracts are exchanged and Completion is fixed. Your solicitor sends the deposit to the Sellers’ Solicitors. You will receive a completion statement and bill from your solicitors. You make arrangements to move in and obtain keys from the Agents.
Step 11: Completion (Moving Day)
Completion occurs when the residual monies (generally 90%) are transferred to the seller’s solicitor from your solicitor.
Once the money is cleared funds in the seller’s account we well release keys to you.
We hope you found this guide to buying useful. If you would like Elite Property to sell or let your home, please contact us to arrange your free, no obligation valuation on 024 7665 2200
Looking for a new build home?
Check out our New Homes and get in touch to find out more about our new home developments
Frequently Asked Questions
What is a letting agent?
A letting agent is a professional who helps to match landlords with tenants and manages the property on behalf of the landlord.
Letting agents typically provide a number of services, which can include:
- Screening potential tenants
- Arranging viewings
- Negotiating leases
- Collecting rent
- Managing repairs and maintenance
If you're a landlord looking for tenants, or a tenant looking for a rental property, working with a letting agent can make the process much easier. Letting agents have access to a wide range of properties and can help to find the perfect match for your needs. They also have experience in negotiating leases and managing repairs and maintenance, so you can relax knowing that your property is in good hands.
Whether you're a landlord or a tenant, if you're looking for estate agents in Coventry, Elite Property should be your first choice. We have a wide range of properties available to rent, and our experienced team can help you find the perfect one for your needs. Contact us today to find out more.
What are the benefits of using an estate agent?
There are many benefits of using an estate agent, whether you're a landlord or a tenant. Estate agents have access to a wide range of properties, so they can help you find the perfect match for your needs. They also have experience in negotiating leases and managing repairs and maintenance, so you can relax knowing that your property is in good hands.
If you're a tenant, using an estate agent can save you a lot of time and hassle. You won't need to view properties yourself or negotiate your lease, as our team will take care of everything for you.
When is the best time to buy?
There is no simple answer to this question. The best time to buy depends on a number of factors, including the housing market, your financial situation, and your personal needs.
If you're thinking of buying a property, our team can advise you on the best time to do so. We have a wide range of properties available, and our experienced team can help you find the perfect one for your needs. Contact us today to find out more.
Why use Elite Property?
Elite Property is the leading estate agent in Coventry, and we're proud to offer a comprehensive service to all our clients. We have a wide range of properties available to rent, and our experienced team can help you find the perfect one for your needs. Contact us today to find out more.
Can I Let to buy?
Yes, you can. The 'Let to Buy' scheme allows you to rent a property while you're waiting to buy one. This can be a great option if you're not sure when you'll be able to buy a property or if you're struggling to get a mortgage.
What is stamp duty?
Stamp duty is a tax that you have to pay when you buy a property. The amount of stamp duty you have to pay depends on the property's value.
If you're thinking of buying a property, our team can advise you on the best course of action.
How do I apply for stamp duty?
You can apply for stamp duty online or by post. The process is relatively simple, and our team can help you with it if you need any assistance.
If you're thinking of buying a property, our team can advise you on the best course of action. Contact us today to find out more.
Do you need a good credit score to rent a house?
No, you don't. You can rent a property regardless of your credit score.
If you're thinking of renting a property, our team can help you find the perfect one for your needs. Contact us today to find out more.
How can I improve my credit score to buy a house?
There are a number of things you can do to improve your credit score. You can start by making sure you're on the electoral roll and paying your bills on time. You can also check your credit report for any errors and dispute them if necessary.
If you're thinking of buying a property, our team can advise you on the best course of action. Contact us today to find out more.
How much does it cost to rent a house?
The cost of renting a property varies depending on a number of factors, including the size of the property, its location, and the length of the lease.
