The buying process

Step 1 - Arranging your Mortgage

Before you begin your search for your perfect home, it is always advisable to speak with a qualified mortgage broker or lending institution to determine your borrowing power. A lender or mortgage broker will look to secure you a "Decision in Principle". This is basically a provisional offer from a mortgage lender, subject to you finding a suitable home that meets their valuation and lending criteria. You would also need to provide the relevant documentation such as proof of earnings and employment in due course, should you wish to pursue an application. Many sellers will insist that their agent does not conduct viewings with anyone who does not have a Decision in Principle in place, and while this document does not guarantee that a mortgage will be issued, it will add credibility to any offer of purchase you may wish to make on a property.

At Bill Wych & Co, we have ties with directly authorised and experienced mortgage brokers, who are ready to assist you in assessing your lending capacity and sourcing a mortgage product that is right for you.

Step 2 - Register your Interest

The next step is to register with Bill Wych & Co either by calling us on 01933 226 707 or visiting our office to discuss your requirements with one of our property experts. You can also register online.

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Step 3 - Finding your ideal home

At Bill Wych & Co, we appreciate that buying a home is so much more than simply choosing a property. It’s a lifestyle choice. So we pride ourselves on not only knowing our properties inside and out, but also knowing everything about the locality. Therefore, we are able to give you advice on the features and benefits of your chosen location, including school catchment areas, local shopping facilities, food, leisure and entertainment options, and transport links.

Once we have clearly established your requirements, we will be able to contact you with details on properties which match your desired criteria.

Step 4 - Viewings

Bill Wych & Co offer viewings between 8am and 8pm, 7 days a week. Therefore, we can ensure that you don’t miss out on viewing your dream home due to a tight working diary, the school run or any other commitments which may prevent you from viewing during standard office hours.

All of our viewings are conducted by competent and friendly property professionals, who are equipped to answer your questions and enable you to make an informed decision.

Step 5 - Making an offer

Once you have identified a suitable property we will put your offer forward to the seller both verbally and in writing, along with any special conditions you may wish to include. You may be asked to demonstrate (if requested) that you are able to proceed with the purchase (e.g. provide evidence of your mortgage decision in principle). However, there are no legal obligations on either side until contracts are signed and exchanged between both Solicitors.

Step 6 - Offer Agreed

Once your offer is accepted we ensure the following is prepared:

• A memorandum of sale (which is then issued to both parties’ Solicitors.
• Write to buyers and sellers to confirm the agreed price.

Therefore, you will now need to instruct your Solicitor or Licenced Conveyancer as soon as possible after acceptance of your offer, and provide us with their details including a contact name, telephone number and email address. You will also need to instruct your mortgage broker (or lender if you have applied direct without using an intermediary) to begin processing your mortgage application.

Step 7 - Instructing a Solicitor

Choosing a good Solicitor or Licenced Conveyancer and a bad one can sometimes be the difference between your purchase completing within 8 weeks, 12 weeks or sometimes not at all. Therefore, we feel that it is vital to choose a legal representative that is efficient, pro-active and professional. For this reason, Bill Wych & Co only recommend Solicitors or Conveyancers who we know are able to offer you a competitive price and an excellent service. We have a selection of tried and tested Solicitors who we would be happy to recommend at your request.

Step 8 - Conveyancing

As part of the conveyancing sales process your Solicitor will do the following: Raise any enquiries on receipt of the draft contract. Raise local searches Report to you on the results of the searches and all title information relating to the property. Agree on a date for exchange of contracts We will assist your Solicitor wherever possible, keeping you informed every step of the way.

Step 9 - Survey and Mortgage Offer

A survey of the property will be booked by a surveyor on behalf of the mortgage lender. 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 before it is returned. There are no legal obligations until contracts are signed and formally exchanged between the Solicitors, however there are disbursement fees and arrangement fees that will need to be paid to Solicitors and mortgage brokers upon request.

Step 10 - Exchange of Contracts

Exchange of contracts can only occur when all enquiries raised by your Solicitor/Conveyancer on your behalf have been answered by the seller’s Solicitor, your Solicitor has received your mortgage offer, your deposit has be lodged with your Solicitor, and both you and your seller have signed the contract for sale. Upon exchange of contracts, the completion date is set by mutual agreement. We will release the keys once the money has cleared in the seller's account on the day of completion.

CONGRATULATIONS!! You may now move into your new home!!