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Buyers Guide - Tyrer & Hart Property Specialists
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Buyers Guide - Tyrer & Hart Property Specialists

Residential Sales – A Buyers Guide

Purchasing a property constitutes a massive commitment, the largest financial commitment that most of us will ever make. It is important to understand the process in order for the purchase to be as stress free and smooth as possible.

The following is a brief step by step guide to buying a property in England and Wales:

1. Work out how much you can afford;
2. Obtain a Mortgage Agreement in Principle;
3. Find a suitable property;
4. Instruct a solicitor;
5. Make an offer;
6. Arrange a survey;
7. Finalise your mortgage and life assurance;
8. Agree your moving in date;
9. Exchange contracts;
10. Complete your purchase and collect your keys;
11. Make arrangements for moving in;
12. Move in.

Residential Sales – A Buyers Guide

1. Work out how much you can afford.

When working out what you can afford there is more than just the purchase price to consider. Other associated costs such as legal fees, surveys, stamp duty and removals firms must be taken into account.

We advise buyers to speak to one of our Mortgage Advisors before you start looking for a property, this initial appointment is free of charge and can really help make sure you do not overstretch yourself.

If you would like to speak to one of our mortgage team please call Tyrer & Hart Mortgages on 0151 363 3471 email mailto:info@tyrerandhart.com

Work out how much you can afford.

2. Obtain a Mortgage Agreement in Principle.

Now you know your budget our mortgage advisor will be able to find the best mortgage product across the whole of the market to suit your particular circumstances.

Once you mortgage application has been processed you will receive and Agreement in Principle from the lender.

Obtain a Mortgage Agreement in Principle.

3. Find a suitable property.

Register your property requirements with local estate agencies, look in local newspapers and online. There are lots of property advertising portals such as Zoopla, Gumtree and Net House Prices to browse to your hearts content.

Once you have found a property you like the look of contact the agent and arrange a viewing. It is very important to visit the property so that you can get an idea as to the condition it is in before you make any offer.

Find a suitable property.

4. Instruct a solicitor

Most mortgage lenders will insist that you appoint a qualified solicitor to deal with the transfer of ownership of the property you are buying, this process is called conveyancing.

Please contact Tyrer & Hart Conveyancing on 0151 363 3471 if you would like us to supply a competitive quote on this service.

Instruct a solicitor

5. Make an offer

Contact the estate agent to put your offer across on your chosen property. Bear in mind the asking price is just a guide to what the seller may be willing to accept for the property and don’t be afraid to negotiate.

Make an offer

6. Arrange a survey

Once you have agreed the purchase price and your offer is accepted, we would advise that you instruct a qualified Chartered Surveyor to conduct an in depth valuation of the property, this way both you and your mortgage lender have the peace of mind that the property is worth the money you will be spending on it. This is an expense but a survey will pick up any defects there may be and avoid even larger costs further down the line.

Tyrer & Hart can arrange this for you through our team of experienced surveyors.

Arrange a survey

7. Finalise your mortgage

With your offer accepted and survey completed you will now be issued with your mortgage offer.

Finalise your mortgage

8. Agree your moving in date

On this date you will receive the keys to your new home. Be sure to give yourself plenty of time to move all of your belongings and confirm your removal firm is available on this date.

Tyrer and Hart can offer you a competitive quote from our Removals Team.

Agree your moving in date

9. Exchange contracts

Your solicitors and the sellers solicitors will have been working closely together to complete all of the legal requirements for the sale, this will result in a formal contract which they will exchange on your behalf once you are completely happy with the terms and have signed the contracts.

Exchange contracts

10. Complete your purchase

On Completion day, the money will be sent to the sellers solicitor and the ownership of the property will transfer to you.

Complete your purchase

11. Make arrangements for moving in

Who to tell you're moving - the checklist

  • Telephone and Internet service providers
  • TV Licensing. Your TV licence doesn't automatically move with you when you move house and if you don't you could end up being unlicensed in your new home, even if you paid for a licence at your old address. Fines run up to £1000, so ensure you're covered.
    TIP: It's easy to update your details. Simply log on to www.tvlicensing.co.uk or call 0844 800 6722 and follow the instructions. You'll be asked for your TV Licence number and new address. It only takes a minute or two to transfer your licence.
  • Bank, building society, pension provider and any company you have loans or investments with Credit card and store card companies Inland Revenue - see www.hmrc.gov.uk for a list of offices
  • Local council (tax)
  • Subscriptions to magazines, charities, etc.
  • Employers
  • The schools your children attend
  • It is a legal requirement to notify DVLA and renew your driving licence and vehicle registration document
  • Friends, family and colleagues.
  • Take meter readings at your old home and new and notify your utilities suppliers of your move.

Make arrangements for moving in

12. Move In

Make a cup of tea in your new home.

Move In
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