020 8904 5040

Buying Process

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1 Arranging your mortgage

Before you start a property search, it’s a good idea to work out what you can afford to spend on buying a new home and your monthly mortgage payments. You can seek advice from an Independent Financial Adviser (IFA), mortgage broker or lender to confirm the funds and finances available to you. Our sister company, Glenmore Finance Limited, can assist you with residential and commercial loans, bridging loans and HMOs. For further information please contact the team on: 0208 908 2514, or visit: www.glenmorefinance.co.uk

2 Register your interest

You’ve found a mortgage product you like and have agreed it as a mortgage ‘in principle’. This tells you how much money the lender is likely to offer and the interest rate you’ll pay. You will now need to register your interest either on our website, or alternatively by visiting our office in Sudbury Town or calling our sales department on 020 8904 5040.

3 Finding the right property

Your details and requirements are now registered with Glenmore. We will proceed with the search for your ideal home that matches your criteria. Furthermore, we will keep in regular touch to give you updates of new properties.

4 The key to successful viewings

Glenmore are one of the longest established estate agents in Sudbury Town. We strive to meet our client's needs and are open Monday to Saturday to enable us to find you your new home. We are happy to book appointments during these hours, as well as Sundays where appropriate. Glenmore prides itself in satisfying their clients’ needs, and such enables us to find you your new home within a short time frame.

5 Instructing a solicitor

The sooner you get the paperwork organised, the sooner we can close on your property purchase. Ensuring that the purchase of your new home goes through on time, without delay, can become stressful, therefore it is important to do some basic research into which conveyance solicitor is best for you. You can also save time when buying a property by letting your solicitor know in advance that you would like to use their services for the purchase.

6 Making an offer

You’ve found a home that suits all your requirements, our sales negotiators will now put forward your formal offer to the sellers both verbally and in writing. They will also state any special requirements previously discussed between the two parties. As a prerequisite, we will also ask you to provide several documents such as proof of ID, proof of funds and ‘Approval in Principle’ (AIP) letter.

7 Offer agreed

Once the offer is accepted, we will take charge and do the follow:

  • Write to all parties
  • request for both solicitor details
  • prepare a sales memorandum

8 Conveyancing

The offer has been accepted, Glenmore will now formally write to all parties involved and request for the solicitor details for both the buyer and seller. A sales memorandum will be prepared and sent to the buyer, seller and the solicitors for both parties. The solicitors will work on the relevant legal documents and liaise with one another to process the purchase. Our sales department will assist your solicitor along the way with any additional requirements.

9 Survey and mortgage offer

Your mortgage lender will require a surveyor to visit your chosen property to conduct a detailed inspection of the property’s condition. The surveyor will inspect the property and tell you if there are structural problems, major repairs that need carrying out or any alterations required such as roof repairs or rewiring. Once complete, a valuation report will be prepared which will enable your lender to send you a formal mortgage offer.

10 Exchange of contracts

All the legal paperwork has been completed and now the contracts can be exchanged. Both parties will sign these documents and 10% of the sale price will be transferred to the seller’s solicitors. The completion date will also be confirmed at this stage.

11 Completion

The remaining 90% of the sale price will be transferred and you will be receiving the keys to the new property. This finalises the sale process.

12 Moving in

Congratulations! You are now ready to move in to your new home.