Key Facts for Purchasers
Listed below are some important points for purchasers with cleared funds – or an agreed mortgage – seeking a property which is available NOW.
We offer the following advice, which we hope you will find helpful, but please do not hesitate to contact us if you require any further assistance.
The Excomp Way
Step 1 – choosing your property
Once you have spotted the property you would like to view contact Excomp and we will arrange a visit for you.
Step 2 – Offers
When you get to the point that you would like to offer we will ensure your offer is put forward to the vendor and come back to you with the vendors thoughts as soon as possible.
Step 3 – Agreeing a Sale
Once your offer has been accepted we will formally set out the details of the transaction in our “Memorandum of Sale” this is sent to both solicitors, the vendor and yourself.
At this point you must contact your surveyor and book in a survey on your purchase.
Step 4 – sale Process
Once the vendor’s solicitor has received the Memorandum Of Sale it is their duty to send a draft contract to your solicitor as soon as possible. On receipt of the draft contract your solicitor will apply for searches and raise enquiries with the vendor’s solicitor. Once your solicitor is content with the answers received back from the vendor’s side we will move to an exchange of contracts and then completion.
It is the job of both buyers and vendors to ensure everything possible is done to encourage a quick transaction. From the buyers point of view we ask three simple things are done prior to submitting an offer.
1. You have a solicitor instructed and ready to act on the draft contract, once it’s received from the vendor’s solicitor.
2. If you desire a survey on your new purchase you must have a surveyor on hand to carry out the survey as soon as possible.
3. Your finances must be in place and ready to access, whether it’s a cash purchase or via a lender. If you are using a mortgage the property will remain on the market as “For Sale” until your solicitor is in receipt of the mortgage offer.