Fordingtons - Estate Agents & Lettings

A guide to buying & selling

Buying or selling your home can be a complicated business. We aim to provide a personal service to help you through each and every step of the process and are happy to answer any questions you may have. We hope this guide will also help to clarify some of the procedures involved.

Before you start looking for a home to buy, speak to our Independent Financial Adviser who can help you find out how much you may be able to borrow. If you have a home that you need to sell, in order to buy another, now is the time to arrange for one of our Negotiators to visit the property you are selling for a free Market Appraisal. Now is a good time to obtain a quote from a Solicitor for the conveyancing fees for your sale and/or purchase; it is good to provisionally book the Solicitor of your choice at this stage (this may seem a little premature but a Solicitor cannot act for more than one person in the chain). Next it is a good idea to find out about the cost of different types of Property Surveys depending on the type of house you may be hoping to buy. Finally, contact a Removal Company and obtain an estimate for the move.

You are now in a good position of having an idea of the costs involved, you can calculate your budget and then register with Fordingtons to receive property details within your price bracket. Ask our Financial Adviser to help you to apply for a ‘Mortgage in Principle’ which puts you in an advanced position as soon as you find a property and want to make an offer subject to contract.

If you have a property to sell, instruct an Estate Agent (we recommend Fordingtons!) to handle the marketing and sale of your home. Liaise with your Estate Agent over offer negotiations on the sale of your home; it is advisable to be contactable as much as possible during this stage.

When you are happy to Accept an Offer your home is then considered to be sold – Subject to Contract depending on the position of your buyer. Instruct your Solicitor to act on your behalf.

Once you have found a home you would like to buy make an offer for it through your Estate Agent. When these negotiations are complete and your offer is accepted on your proposed purchase, inform our Financial Adviser that you have found a property and apply for your Mortgage.

Instruct your Solicitor to act on your behalf and arrange for a Survey on the property you are planning to buy.

Liaise with your Solicitor over contract details and the progress of the transaction. Following a successful mortgage application a Mortgage Offer will be sent to you and your Solicitor. Arrange a meeting with your Solicitor to sign contracts and agree a proposed move date. Provisionally make arrangements for removals, time off work etc for this proposed date (be flexible!)

When all parties in the property chain are in a position to proceed, Contracts are Exchanged (your Solicitor will confirm you are happy to proceed before Exchange as there are cost implications if any link in the chain pulls out after this). At Exchange of Contracts a payment of Deposits will take place.

The final stage is Completion (this normally takes place two weeks after Exchange of Contracts); monies will be transferred and you can collect your keys from the Estate Agents and move into your new home.