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Step by Step Guide to Buying your property.

Our personalized and exceptional customer service has earned us a loyal base of returning clients. We work closely with you to find your dream property, whether you’re buying a home for your family or investing in a rental property.

What Type of Buyer are you?

First Time Buyer – This will be your first property you buy. You have never owned property, land or have never had a title-deed in your name before.
Buy-to-Let Investor – Buyers who purchase properties specifically to rent them out, generating rental income.
Let-to-Buy – Homeowners renting out their current residence to finance the purchase of a new property.
Sell-to-Buy – This is a homeowner selling their current residential property in order to purchase a new one.

Organising Finances and Establishing a Budget

Securing your finances before starting your property search is crucial. Before you begin your property search, it’s highly advisable to arrange your finances and secure a mortgage in principle. Knowing how much you can borrow helps you focus on properties within your price range. A mortgage in principle demonstrates to sellers that you’re a serious buyer, enhancing your negotiating position. With finances sorted, you can act quickly when you find the right property, making your offers more competitive. R&K Residential can assist you with experienced Mortgage Broker who can assist with this.

Finding your Ideal Property and Viewings

Searching for a property can indeed be time-consuming and exhausting. Whether you have a specific vision in mind or need guidance, registering with us can help streamline the process.

We’ll assign an experienced team member to work closely with you, understanding your requirements and preferences. Our team will handle the details, saving you time and effort as we search for properties that match your criteria. The initial search to closing the deal, we’ll be there to guide you every step of the way. Let us take the stress off your shoulders—register with us today, and let’s find your perfect property together!

Choosing your Solicitor

Appointing a proactive and reputable solicitor is crucial, as it can greatly impact the progress and success of your property purchase. R&K Residential can provide recommendations to assist you.

Placing Offers

We will promptly notify the seller, both verbally and in writing, of any offers received on the selected property. When evaluating offers, the seller will likely consider several key factors:

Proof of Funds – Before accepting any offer, we will need to see evidence of your financial capability. Are you obtaining a mortgage or are you a cash buyer? If financing with a mortgage, it is highly advisable to have a written agreement in principle.

Chain – Are you dependent on selling another property to fund this purchase?

Timeframe – What are your target move-in or completion dates? The seller will factor in their own timeline and circumstances.

Acceptance of Your Offer

“Great news! You can now instruct your solicitor, and we will issue the Memorandum of Sale. This document will confirm the agreed purchase price and will be sent to all involved parties.”

Survey and Mortgage Offer

When purchasing a property with a mortgage, you’ll need to submit a full mortgage application and arrange for a property survey, typically organized by your financial advisor or broker. The survey will identify any potential defects and provide an assessment of the property’s value. Once the survey results are received, your lender will issue a formal mortgage offer to you and your solicitor. At this point, the property will be marked as “Sold Subject to Contract” (SSTC).

Exchange of Contracts

After your solicitor confirms all inquiries have been satisfactorily addressed and the financial details are finalized, the parties will sign the contracts. At that time, you must pay the agreed deposit, typically 10% of the purchase price, into your solicitor’s account. The parties will then mutually determine the completion date.

Completion Day

Upon completion, your solicitor will transfer the final funds to the vendor’s solicitor. Once we receive confirmation, you will be given the keys on the same day.