Step by step property buying guide

 

Buying a home can be one of the most exciting and overwhelming moments in a person's life. We at Copperstones, are committed to providing you with bespoke service, tailored to your needs and to make property searching an effortless experience.

Here’s our step by step guide to buying a home or acquiring a new property.

Step 1

Getting your finances in order

Ready to buy a new home or invest in a prime property? Before you begin your property search it is advisable to put your finances in order and agree on a mortgage, if it’s necessary. We suggest you search on what type of mortgage you need and contacting a reliable mortgage broker.Buying property also comprises of one-off and ongoing hidden costs you should always take into consideration.

Step 2

Check in your interest with us

The first step to finding the right property is to call us on +44 (0) 207 258 6150, visit our offices at 2 Crawford Place London W1H 5NA or arrange a private meeting at your convenience. In our first meeting, we extensively discuss your requirements and expectations for the property search and acquisition. If you find a property that interests you on our website you can make an enquiry online and we will contact you to arrange our first meeting.

Step 3

Finding your dream property

We believe that every client is unique and we have made every home search a tailored mission to find the perfect property for you.In our initial meetings, we examine your needs and criteria to find matching properties Sometimes it’s ok not to have a specific wish list in mind. We are here to guide you through the buying process by suggesting properties that we think you can greatly benefit from.During the property search, we regularly update you with the upcoming trends regarding the property market.

Step 4

Arranging private comfortable viewings

We know that property viewing is the most exciting part of the purchasing property. We recommend you enjoy our quiet and attentive viewing style, which allows you to explore every inch of the property in complete privacy and get in the viewing relaxed, by our private chauffeur service at your own convenience such during after work hours or at the weekends.

Step 5

Hiring a solicitor 

A solicitor will do all the heavy legal lifting for you so as to ensure a transparent transaction.From helping you placing an offer to preparing all the paperwork an efficient and experienced solicitor can define a successful buying process.We can recommend you savvy and speedy solicitors, who are part of our long-standing network and known for their expertise in the London property market. 

Step 6

Making an offer

Making an offer is one of the most challenging aspects of buying and negotiation secrets don't lie solely on the numbers.
Knowledge of the property, deep understanding of the market, figuring out the seller and grasping the local market trends are the essential parameters we take into consideration when we are giving you negotiation advice. By this, we put you in the advantageous position of having all of the intelligence regarding the property you are about to buy.

Step 7

Agreeing on an offer

Once you have agreed on an offer our team will prepare a memorandum of sales, arrange all communications with all the parties involved to confirm the agreed price and finalize your solicitor’s and mortgage broker’s details. Contacting your solicitor in order to proceed with surveying and your mortgage broker, if you have one, is one of the final steps of the buying process.

Step 8

Conveyancing 

Commissioning a survey on the property before the contracts are signed is essential to the process and can be proven highly beneficial to you in various ways. First, it will help you avoid hidden costly problems in the long run. Second, it will allow us to renegotiate the price for you, should any issues from the surveys arise. Third, if you have a mortgage, your lender will arrange for a valuation to check that the property is worth the asking price. 

There are 3 types of surveys available:
The RICS condition report is a basic standardized survey and most suitable for new-build and conventional homes.
The RICS homebuyer report is suitable for conventional properties in reasonable condition. The Building or structural survey is the most comprehensive survey and suitable for all residential properties.

Step 9

Finalising your mortgage 

Contacting your mortgage broker is essential at this stage in order to finalize the mortgage agreement and ensure a smooth process. Through conveyancing, you will receive the mortgage valuation report and then a formal mortgage offer will be sent to you and your solicitor. The official mortgage offer needs to be signed before it is returned. While sorting out the mortgage deal our team will offer you advice and compare the mortgage offers you have received. Be mindful that your mortgage lender must give you at least seven days to think about whether or not this is the right mortgage for you.

Step 10

Exchanging contracts 
During this stage, all inquiries regarding the sales and the different parties involved have been confirmed and agreed, making both parties legally bounded.Once the contract has been signed by both parties the deposit which is usually 10% of the purchase price has to be telegraphically transferred or paid in the form of a banker's draft from your solicitor to the seller's solicitor.

Step 11

Completing the sale 

You are one step closer to your new home! Completion of sale means making the final arrangements towards acquiring the keys to your new property once the money and the deeds of the property are transferred. In this very special moment for you, our team is there to release the keys to the property. Welcome to your new home!

Congratulations!

Time to move in your new home !

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