Buying Process


1Arranging your mortgage and other costs

Buying a property is a financial and legal commitment.

Finding the right mortgage to suit your own circumstances can be daunting, with so many lenders, schemes and rates available, where do you start?

Regardless if you are an experienced buyer or a first time buyer, its always advisable to speak to a mortgage adviser to establish the full costs involved along with your budgeting as well as taking advantage of the best available products for you.

Should you wish to speak to our approved and recommended mortgage adviser give us a call on 0208 577 8855.

2Register your interest

Once you have sorted out your financial stance you can now register your details and requirements. Our consultants will match your requirements with our available properties for sale and get in touch with you to regularly update you via a range of communication methods.

3Finding the right property

When finding the right property, you must list the most important reasons on why you are buying.

Where would you want to live? – Location is key to ensure you fulfill your recreation and work life balance. Create a list of the must haves, nice to haves, and the don’t wants. This will help you define and narrow down the properties to view. Remember new properties are added to our website regularly, ensure you register your details with us.

4Making an offer

Crucial to note. You must carefully consider how much you can realistically afford. Don’t forget to allow for Stamp Duty (if any) and Solicitors fees.

Properties that are desirable and attractive whether as an investment or in terms of locations and condition will attract strong interest.

Remember Estate Agents acts for the vendor in a property transaction, we will verify your identity and financial position and then communicate offers handling all the negotiations. The closer the offer to the asking price the stronger the chance of acceptance by the vendor.

If your offer is contingent in selling your own property we would welcome the opportunity to value your home if its local enough for us to visit. We are happy to assist outside of the Hounslow area as we have done successfully.

5Offer agreed

This is an exciting but nervous stage in the process of buying which, from beginning to end, takes between 6 to 8 weeks on average. But this all depends on the competency of your solicitor.

We have our approved panel of Conveyancers on hand to offer you a no obligation quotation for your purchase. Please contact us on 0208 577 8855

We have established an efficient system and process to ensure we will liaise between your solicitor and the vendor’s solicitor, working up and down any chains, to ensure that your purchase goes through as smoothly as possible.

6Conveyancing

This is the legal term for the transfer of ownership of a property from one party to another. Your solicitor will manage the legal aspects of the buying process and ensure all the vital checks including all land and local authority searches are completed.

Our sales progressors help progress the sale and assist where necessary to and ensure a swift and smooth process.

We have our approved panel of Conveyancers on hand to offer you a no obligation quotation for you purchase. Please contact us on 0208 577 8855

7Survey and mortgage offer

Unless you are a cash buyer this is the time to formally apply for a mortgage on this property with your financial advisor or lender.

Your lender will require a survey for mortgage purposes, but this is merely to establish a valuation. You may also choose to undertake a full structural survey although this is usually advisable on a period property or a property of non-standard construction. Any issues highlighted may either affect the lenders ability to offer a mortgage in its entirety or impose special conditions on the mortgage offer. The survey may also highlight any expensive problems to you before you purchase the property.

8Exchange of contracts

When your solicitor has received; satisfactory replies to all their searches and enquiries, a copy of a mortgage offer, a signed contract and the deposit has been paid they can then proceed to exchange of contracts. From this point the seller and buyer are legally committed to the deal.

The sales contract is signed by both you and the vendor and the deposit is transferred or paid by your solicitor to the vendor's solicitor. At that point the date is then set for completion.

This can be pretty much straight away (called a Sim – simultaneous exchange and completion) or up to 28 days later depending on your requirements.

Its important to remember that at any time up until exchange of contracts, either party can withdraw from the sale without financial loss.

9Completion

Completion is the formal process of transferring the balance of monies due from the buyers solicitor to the seller’s solicitor. This process will be dependent on your circumstances and any other parties involved in the buying chain. Once the monies have been received you can collect the keys and you are the legal owner of your new home.

10Moving in

Congratulations!

You are now the proud owner/s of a lovely new home.

Remember to get your mail re-directed and do not forget to tell your bank, your employer, HMRC, DVLA, insurance, council tax, doctor, dentist and any schools that you have changed your address.

Agree meter readings, transfer the phone lines and other utilities. Book the removal company, defrost and disconnect your white goods.

Tell your friends and organise the party.

An take in the joy of being a homeowner.

Disclaimer: This information is provided as a guide only and may not reflect your individual circumstances. You should obtain professional advice when buying or selling a property and Diamond Move Estate Agents accept no liability if you rely on the content of this guide and do not obtain professional advice.

Hounslow Property Blog

Bringing the latest updates on the market conditions in Hounslow and Surrounding areas. Being an Agent is not about selling or letting properties, but being able to share our expertise and knowledge with you whether you are a Tenant, Buyer, Seller or Landlord.

At the Hounslow Property Blog we publish weekly articles dedicated to the latest trends and news on the Hounslow Property Market.

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Fees

Letting Fee Information

Refundable Holding deposit - Capped at 1 weeks rent

Security Deposit - Capped at 5 weeks rent for annual rental under £50,000, or 6 weeks rent for annual rental over £50,000

Rent - The agreed monthly rent

Changes to tenancy - Capped at £50 inc VAT

Early termination charge - Not exceeding the landlord’s financial losses

Late payment of rent- Interest of 3% above BoE base rate for each day the rent is late, once it is 14 days overdue

Replacement keys - Reasonable costs or give the tenant the option to purchase themselves

Utilities, council tax, communication services, TV Licence etc - Tenants own responsibility unless otherwise stated in contract

Fees may be charged on a per person or per property basis, please call us on 020 8577 8855