8 Easy Steps To Buying From Us!
Buying a new home is exciting but it can be a bit daunting if it’s the first home you have ever bought, or stressful if things don’t go smoothly, so let us help you through the whole process. Our Sales Managers are knowledgeable and friendly, please just ask if you have any questions; if they don't know the answer they will try to point you in the right direction.
Step 1. Affordability - what can you afford to buy?
Your own home
If you are a home owner and need to sell it to purchase a new property, it’s essential to know how much it’s currently worth. We suggest you seek professional advice and get an up-to-date market valuation and appraisal. Estate agents, will normally provide this free of charge. They should explain the service they can provide and how much they will charge for this. As valuations are subjective, an average of the valuations will provide a realistic guide to how much you will probably sell for.
There are an enormous number of lenders and mortgage products currently available with numerous special deals and widely varying interest rates. 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, we recommend speaking to Warners Financial Services or The Mortgage Advice Bureau who could save you considerable time and money. They have helped many of our customers find the right mortgage product for their needs. (See our section on Financial Services)
Step 2. Choosing a home
When you know how much you can afford and are comfortable spending on a new home and have selected the location, you need to look at the ‘Prices and Availability list’ for that development. Alternatively, use the search tool on our home page. Once you have selected the housestyle you want, what next?
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 by an agreed date. 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.
Step 3. Reservation
Once it is established that you are in a position to proceed to an exchange of contracts by the agreed date, we will then be pleased to accept your reservation, subject to contract. We will ask for a £750 deposit to be paid and for the name of the solicitor you wish to use. The reservation will fix the price of the plot until the agreed date but failure to exchange contracts by then may result in us re-offering the plot For Sale. Should you withdraw from your purchase for any reason, we will refund £250 but keep the other £500 towards our administration costs. The reservation deposit can count towards your contract deposit (see exchange of contracts below).
Step 4. After reservation
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.
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.
Personalising your new home - the exciting bit!
After you have reserved your new home, you can get creative and personalise it by choosing your beautiful new kitchen from our extensive kitchen selection. Then complement this by choosing kitchen tiles from our superb Porcelanosa range or glass splashbacks to complete the look. You can also choose tiles for your bathroom and ensuite (if applicable) to create the bathroom you want.*
No painting required!! You also have a choice of colours for the walls and skirting boards. (One emulsion wall colour throughout, from a selection of colours – you can have other colours too, but further colours will incur an extra charge.) *
*NB. You can make these choices as long as the stage of construction of your chosen new home allows. It maybe that the choices will have already been made and installed to allow construction to continue.
Our experienced Sales Managers 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.
Step 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.
Step 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.
Step 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.
Step 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.
Should you have any “teething problems” in your new home, the Sales Manager or Site Manager is at hand to help you.