Price Agreed, What Now?

Well done, your offers been accepted. Now the anticipation begins. You will be generally guided through the whole process from now onwards by your solicitor, mortgage lender or broker and your Estate Agent but here are a few pointers to help you get moved in.

• The property can now be advertised as “Sold Subject to Contract” or “Under Offer” by the agent or seller but it does not secure it as yours.
• You can still withdraw from the purchase prior to exchange of contracts without penalty. This does also apply to the seller.
• Put in place your mortgage. This may require you to choose the type of valuation or survey and pay for it. Ask for explanations of the different valuations or surveys. Check if you have to pay the lender or broker an arrangement fee.
• Instruct a solicitor or conveyancer to act for you but ask for the costing in writing first.
• You will generally be required to complete various forms and pay various fees throughout the transaction but always ask what the fees are for and what purpose the forms serve.
• When you have gone the distance and you are up to a point of exchange your solicitor will ask you for a preferred completion date (moving date). When this has been agreed by all parties concerned, deposits are passed over (if applicable) and contracts are exchanged. It is at this point that your purchase becomes legally binding, now all you need to do is organise your move and decide on what colour scheme you want.