Powell & Jones recognises the fact that the purchase of your home is the most important and expensive transaction you are likely to undergo. With our extensive database featuring a broad variety of locations and prices, we are sure that with our local knowledge and expertise, we will be able to find you a property to suit your needs, be it a straightforward move or a ‘Buy to Let’ investment.
We offer:
- A wide range of properties to view, suiting all budgets and locations;
- Accompanied viewings in the day and evening;
- Regular contact to keep you up to date with new properties just come on to the market;
- An efficient, friendly and professional sales team to advise and guide you through the selling process, making your purchase as stress free and uncomplicated as possible.
Please click http://powellandjones.twebstaging.co.uk/ to view a list of our current properties, complete with colour photographs.
Step-by-step buyer’s guide
To help you unravel the complexities of buying your new property, we have set out below an overview of the various procedures involved:
Registration
You can register your details and property specifications with us by calling in person to our office, calling 01656 653855, by emailing Properties@PowellandJones.co.uk or by completing our registration form http://www.powellandjones.co.uk/Content/Register.aspx. By registering your details, we can ensure that we send you details of properties that suit your requirements by telephone, email or post as soon as they come on to the market.
Viewing
Our helpful and professional team are available to arrange those all important viewings of your chosen properties.
Our office opening hours are:
Mondays to Fridays from 9am – 5.30pm;
Saturdays from 9am – 4pm.
Please note that viewings can also be arranged outside of our office opening hours, just give us a call on 01656 653855 to arrange a mutually convenient time.
Mortgage
To speed up your house buying process, it is advisable if possible, to obtain a mortgage agreed in principle before any final decision on your chosen property is made. This will give you a clear indication of what you can afford and a mortgage agreed in principle is particularly attractive to sellers. We are happy to advise you on financial advisors if required.
Making your offer
Your offer on your chosen property will be submitted by us to the vendor for their consideration, both verbally and in writing. All offers are ‘subject to contract’ and therefore neither party is legally bound until the contract is actually signed.
Accepted offer
As soon as your offer has been accepted by the vendor, we will instruct your solicitor to act on your behalf. Your solicitor will handle all the legal requirements of your purchase (property conveyancing). At this point, you will also need to formally proceed with your mortgage application.
Survey
As required by law, you will now need to obtain a mortgage valuation, to be conducted by a chartered surveyor acting for your lender. The report determines whether the amount to be loaned is secure and deals with the basic condition of the property. You as the buyer, will also be provided with a copy of the valuation, which allows you to evaluate the findings before entering into a commitment to purchase. We recommend that you do not solely rely on the mortgage valuation survey, as the inspection is limited. A more detailed report may cost a little more, but could in the long run save you from making a costly mistake.
There are two types of surveys available:
- Homebuyer survey/valuation This A mid-range option that is more than a mortgage valuation but less than a building survey (see below). The survey is a basic service more suitable for properties in apparently good condition and conventionally constructed. The report will highlight any pressing or significant defects which are likely to have an overall impact on the value of the property and potential future marketability.
- Buildings survey
Suitable for all types of properties, including those that have an unusual construction, are historic or listed, have been extensively altered or where major work is planned. The report is comprehensive and lists the construction’s full technical details, materials and condition. The survey is tailored to fit your needs and will highlight the full spectrum of defects from the more serious to the insignificant. However, it should be noted that the building survey does not include a valuation and is only conducted by prior arrangement.
Searches
Searches are conducted by your solicitor who will submit a Local Authority search to the local county borough council to ascertain if there is any planning previously granted on the property or if there any other local issues which may have an impact on the purchase. In some instances, the search may also include an Environmental and Drainage search.
Draft contract
The draft contract drawn up by the vendor’s solicitor is forwarded to your solicitor for consideration. Any additional queries will be asked and answered and the contract corrected accordingly, subject to final approval.
Mortgage offer
The Lender will now be in possession of the Mortgage Valuation Survey and, subject to the findings of the report, receipt and approval of the mortgage application and all references and checks conducted satisfactorily, the Lender will send a formal mortgage offer to you and your solicitor. The document is then signed and returned and funds are requested by your solicitor.
Exchange of contracts
Once the contract has been signed by both parties, a deposit (normally a small percentage of the purchase price) is paid by either bank transfer or banker’s draft. At this stage, both parties agree on a date for completion.
Completion
Completion usually follows a few days or weeks after the exchange of contracts. The balance of the purchase price is transferred by your solicitor to the vendor’s solicitor and the keys released.
Congratulations! You are now the owner of your new home!