When you start your search to buy a property, make sure you register with Woolley & Parks – either through our website, social media channels, giving us a call on 01377 252095 for the Driffield Office and 01482 755700 for the Beverley Office, or why not pop in and see us! As new properties meeting your criteria come on the market, we’ll alert you by email, text or give you a call.
We will only show you properties carefully chosen to meet your specific requirements, saving you the time and effort of looking through unsuitable details.
When buying a house it is important to check it is the right one for you. There are several points to consider before proceeding with any house purchase. We have drawn up this guide to assist you.
Once you’ve viewed and found a property that you like, discuss with us the offer you would like to make. We will ask you to confirm how you intend to fund the purchase, our independent financial advisor can assist you if required. If you already have a mortgage arranged, we will ask you to provide an agreement in principle (AIP) document and we will require the details of your financial advisor so that we can clarify the time frame that will be involved for processing your application. If you are buying without a mortgage (a ‘cash buyer’) you will also need to provide evidence of funds available.
We will negotiate between you and the seller until an arrangement is satisfactorily agreed between both parties. Although we’re working on behalf of the seller and are therefore obliged to maximise the value we achieve for their property, we make sure our offer advice to you is realistic. After all, a sale will only happen if both parties are satisfied and a mortgage will only be granted if the offer price is sensible.
Once an offer has been agreed between you and the seller, we will contact each party’s solicitors to confirm the details of the sale. Offers are not legally binding until contracts have been exchanged, and either buyer or seller is legally entitled to pull out of a transaction – although each party will most likely still be liable for their own solicitors’ costs up to that point.
We will liaise with you on a regular basis up to exchange of contracts to ensure a smooth and efficient property transaction.
One in three property chains fall apart. This can happen for numerous reasons, from one party not having their finances in order, to an unpleasant surprise in the survey.
The best way to ensure a chain progresses smoothly is through good communication. Stay in regular contact with your conveyancer and estate agent to make sure everything possible is being done to speed things along.
It can also help to stay flexible. Be prepared to move in with your family or rent as a short-term measure if it means you can keep the chain going and secure the home you want.
From now until exchange, your Woolley&Parks negotiator will be in regular contact with you and your solicitor, as well as the sellers and their solicitor, and the solicitor of any other people in your chain to make sure that your purchase goes through and on time. It is well worthwhile you also being in regular touch with your solicitor.
Exchanging contracts is the moment when the sale becomes legally binding on both sides.
You can only exchange once you have paid a cleared deposit (usually 10% of the purchase price) to your solicitor’s Client Account. If you are also selling a property, the proceeds of your sale, once any outstanding mortgage debt has been repaid, will usually form the deposit on your purchase, and therefore you may not in this case have to actually forward any sum to your solicitor for the deposit.
Exchange of contracts usually happens on the phone, when both parties’ solicitors agree that they can ‘exchange contracts’. Your solicitor will tell you and us when contracts have been exchanged and a completion date agreed.
The date of which the transaction is finalised and keys will be handed over via ourselves once completion takes place so you can move into your new home.
Stamp Duty is charged at different rates depending on the portion of the purchase price that falls into each rate band.