Buying from us
Thank you for enquiring about our homes.
8 easy steps to buying from us!
1. Affordability
Your own home
If
you need to sell your present property in order to buy another, it is
essential to know how much it is currently worth. As the housing market
has been subject to fast moving changes in recent years, we recommend
that you get an up to date market appraisal. Local, active estate agents
will normally provide a valuation, free of charge. Each of them will also
discuss what they will do for you and how much they will charge. As valuations
are subjective, an average of the valuations will provide a realistic
guide to how much you will probably sell for.
Mortgage advice
There are an enormous number of lenders and mortgage products currently available with numerous special deals and widely varying interest rates. This diversity has ensured that only a mortgage specialist can advise you of the best scheme to meet your needs. The final decision on which lender to go to is of course yours but by shopping around you could save considerable sums of money.
2. Choosing a home
Plot
currently for sale
A plot that appears on our price list For Sale may be reserved if you are in a position to proceed to an exchange of contracts within 6 weeks. In order to achieve this you will need to either be unencumbered (e.g. a first time buyer or cash buyer) or have a sale on your own property with a complete chain.
Plot not yet offered for sale
A plot that is still to be offered for sale cannot be reserved. However, we will gladly note your interest on a plot file and advise you once we near the time of releasing it for sale and once further information is available. To be as fair as possible, interest is noted and then contact made on a first-come first-served basis.
3. Reservation
Once
it is established that you are in a position to proceed to an exchange
of contracts within 6 weeks, we will then be pleased to accept your
reservation, subject to contract. We will ask for a £350 deposit
to be paid and for the name of the solicitor you wish to use. The
reservation will fix the price of the plot for 6 weeks – failure
to exchange contracts in this time may result in us re-offering
the plot For Sale. Should you withdraw from your purchase for any
reason, we will refund £100 but keep the other £250
towards our administration costs. The reservation deposit can count
towards your contract deposit (see exchange of contracts below).
4. After reservation
Solicitors
You will need to contact your chosen firm of solicitors to give them formal instructions to act on your behalf. They will receive a contract from our solicitors to approve, will make various searches, liaise with your lender about your mortgage and deal with any queries raised on your sale.
Mortgage
You will also need to contact your lender or financial adviser to submit a mortgage application. They will make various enquiries about you, your status, your income and the plot you are buying. An inspection of the plot may be needed. Once your lender is happy with it’s enquiries, they will make you a written mortgage offer and send a copy to your solicitors.
Home selections
We
offer a very wide choice of finishes, limited only by the stage of construction
- once we reach a certain stage of construction we may have to make the
choice to allow construction to continue. We will invite you to have a
detailed look at the choices available and submit them for consideration.
It can be quite time consuming but great fun! Our experienced Sales Negotiators
will be pleased to provide any assistance or advice you require. Once
your selections have been made and we have your legal commitment (see
exchange of contracts below) we will finish your home the way you want.
5. Exchange of contracts
Once your solicitors are happy with their enquiries, you have a mortgage offer and everyone in your chain is in a similar position, you will be ready to sign your contract, agree a completion date and pay a larger “contract” deposit. This contract deposit is 10% of the purchase price or another suitable sum (the amount can be discussed and agreed). The deposit you paid on reservation can count towards your contract deposit. An “exchange of contracts” will then take place and legally binds all buyers and sellers in your chain together.
6. Pre-Completion
We will progress towards finishing your home and will ask you to inspect the property with our Site Manager just prior to its completion. Any problems agreed upon will be noted and wherever possible, rectified before handover.
7.
Handover (also known as Legal Completion)
The date for this will either have been set at the time of exchange of contracts or will be 14 days after our solicitors have notified your solicitor that the property is finished. This is the day where the balance of money owed for the property is paid to us and in return you will receive the keys to your home together with a handover pack of information. We will ask you to make another brief inspection of the home, take meter readings and we will give you a demonstration of where things are and how things work in your new home.
8. After Handover/Legal Completion
A
comprehensive handover pack will be given to you explaining what to do
in the event of any problems. When you move in, take time to read it carefully
and refer to it as necessary - we do want you to be very happy with your
home.
These details
must be read in conjunction with our terms
and conditions