The Buying Process
Register with Griffin Auctioneers
You can register either by calling or visiting one of our offices where you will be able to discuss your requirements with one of our negotiators. You can also register your interest in a specific property online. Full colour brochures with photographs and floor plans can be downloaded from our website, emailed to you or sent in the post. You will automatically be alerted by email when a new property becomes available. We also have a smart phone mini site for your convenience.
It is a good idea to arrange your finances as soon as possible when starting a property search and have a mortgage agreed in principle. This will not only confirm how much money you have available to spend but speed up the buying process once you have found a property you wish to purchase.
You should view as many properties as you are interested in as early as possible. You will be accompanied on all viewings by one of our negotiators.
Making an Offer
Once you have found a suitable property we will put your offer forward to the seller both verbally and in writing at the earliest opportunity. We will also need to confirm your financial position and any related sales.
Once the sale has been agreed and solicitors instructed, we write to all parties confirming the details.
When the seller’s solicitor has received the title deeds and all supporting documents, a draft contract will be prepared and forwarded to your solicitor who will raise any enquiries. Your solicitor will also apply for local authority searches on your behalf.
A mortgage lender will normally require that the property being purchased is inspected by one of their appointed valuers. The lender will usually offer you the choice of either a basic valuation report or a valuation and detailed condition report. This process can often take up to 3 weeks and you should therefore consider carefully the timescales that your mortgage supplier is offering you. Alternatively, if you wish to have a full independent structural survey carried out, you should instruct an independent chartered surveyor. After the mortgage valuation report is received, a formal mortgage offer will be sent to you and your solicitor which you will need to sign and return.
Exchange Of Contracts
Contracts are exchanged when your solicitor is satisfied that all enquiries have been confirmed and agreed and a completion date has been set. When the contract has been signed by both parties the deposit (usually 10% of the purchase price) is transferred to the seller’s solicitor. You will need to ensure that satisfactory buildings insurance is in place at this stage.
The completion date will be negotiated prior to exchange of contracts and finalised when exchange takes place. On completion the residual monies (usually 90%) are transferred by your solicitor to the seller’s solicitor and once the money has cleared keys to the property will be released to you.