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Information for Purchasers

We will help you find your perfect home

Whether you're looking for a cosy cottage, a town house, country home or modern apartment, we are perfectly placed to help you find your new home.

We pride ourselves on being straight forward and follow the Code of Conduct for Estate Agents which outlines best practice in the industry.  We want you to trust us and feel secure that we offer a fair and honest service.

We are available by appointment 7 days a week and are happpy to accommodate out of hours viewings where possible.

... and support you through the process

House buying can be a stressful and lengthy process but don't worry, we are on hand to guide you and offer advice.

We do everything to make the process as simple and stress free as possible.  We are at your side every step of the way, from the first viewing to handing over the keys.

We hope that you will be impressed with our service and that one day you will return to Bright Estates when you decide to sell your own property.

 

How the process works 

Once an offer has been made and accepted on a property, the house buying process commences.  The following steps lead to the successful purchase of your property:

Solicitors

By the time your offer has been accepted, you and the vendor should have appointed a solicitor/conveyancer.

Memorandum

Both parties will be sent a Memorandum of Sale from the agent confirming the price, any special conditions negotiated  and the names and addresses of both solicitors/conveyancers.  The purchaser at this stage should have an approved mortgage in principle (if applicable).

Valuation

The purchase immediately informs their mortgage company to arrange for a mortgage valuation (if applicable) and homebuyers survey/structural survey to be carried out.  They will contact the agent to arrange access.

Searches

The purchaser puts his solicitors/conveyancers in funds for local authority seraches (approximately £200).  The vendor's solicitor/conveyancer will send draft documentation, contract and deeds of the property to the purchaser's solicitor/conveyancer.  The purchaser's solicitor/conveyancer will start local authority searches and send preliminary enquiries to the venfor's solicitor/converyancer.  The mortgage offer should be sent to your solicitor within a week to ten days after the survey date.

Cleared

When all the enquiries have been answered to the buyer's satisfaction, the contact will be approved and sent to the purchaser for signature and return.  At this stage the purchaser's solicitor should be in cleared funds to exchange contracts.  This amount is generally 10% of the purchase price.  BACS payment or banker's draft is the preferred and quickest way.  Sending a cheque takes too long to clear.

Exchange of Contracts

Once the solicitor has signed the contract, local authority search, mortgage offer and deposit money, they will be ready to exchange contracts.  At this point the completion date will be set and the deposit funds transferred.

Completion

Completion is when your mortgage company sends the remainder of funds across to the solicitors and is 'move in' day.  Funds tend to clear around lunch time so don't organise to pick up the keys to your new home until then.  Completion is generally a month after exchange of contracts or thereafter as agreed between the purchaser and vendor.