Heather and Lay recognises the fact that the purchase of your home is an incredibly expensive and important transaction.
Our database features a diverse and interesting mix of properties for sale. With twenty-five years experience we have the local knowledge and expertise to find you a property that will suit your requirements; whether it is a straightforward move, holiday home or a letting investment.
In order to assist you, we have set out below an overview of the various procedures involved:
Registration – Firstly, you need to register your details and property requirements. This information will give us a better understanding of you and your requirements and the ability to fine tune the property details provided and help you in the search for your ideal property. Once you have registered, you can then receive details from us in person, via Royal Mail post or email.
Viewing – Our experienced team are available to arrange viewings of your selected properties. Our office is open 6 days a week from Monday to Friday 9.00am – 5.30pm and Saturday 9.00am to 4.00pm. It is possible to arrange viewings at other times, subject to prior notice and availability.
Making The Offer – Once you have decided on the property you wish to buy, your offer will be made by us to the vendor, for their consideration. This is generally done both verbally and in writing. At this stage we will need to provide the vendor with information about your ability to proceed and finance the purchase of the property. All offers are “subject to contract” and therefore neither party is legally bound until the contract is exchanged.
When Your Offer is Accepted – You should now instruct a solicitor to act on your behalf. Your solicitor will handle all the legal requirements of your purchase. If you require a mortgage, you need to formally proceed with your mortgage application and instruct your mortgage consultant/broker accordingly.
Valuation Survey – If you require a mortgage, the lender will instruct a chartered surveyor to carry out a mortgage valuation. The surveyor acts for the lender to provide a valuation which determines the amount to be loaned is secure and also deals with the basic condition of the property. As the buyer, you are provided with a copy allowing you to evaluate the findings.
Property Survey – You may wish to get a more in-depth survey which provides a more detailed report of the properties condition. There are two types of survey available:
i. Homebuyers survey/valuation: This is more appropriate to properties which are in apparently good condition and conventionally constructed. The survey’s purpose is to highlight any obvious or significant defects and problems which are likely to have an overall impact on the value of the property.
ii. Building Survey: This is suitable for all types of property whether conventional or unconventional in their construction. This survey is comprehensive and lists full technical details of the construction, materials and condition. It identifies all defects from the more serious down to the insignificant and the terms of the survey are therefore tailored to fit the client’s specific needs.
Searches – Your solicitor will advise as to which searches are necessary. They will include;
1. Local Authority – This search will give you information on a number of different areas e.g. planning issues, road works, the proximity of railway lines and whether the property is listed or in a conservation area.
2. Water and Drainage – This search will reveal matters in relation to public sewers, mains water supply, surface drainage and connections.
3. Other Conveyancing Searches – There are also some non-routine searches that need to be undertaken in certain circumstances.
Draft Contracts – 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 and signing by buyer and seller.
Mortgage Offer – 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 10% 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 – 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.