This page is dedicated to giving all types of purchasers an idea of each of the stages involved in the buying process in today's somewhat complicated and, at times, confusing process.
Registering Your Details
Clearly, you do this with estate agents in the area you are hoping to live in. You can register your details with Bergason either by calling us on 0121 384 1333 or, if it is easier, you can register on line through our website or by calling into our offices.
Having registered your exact criteria, you have now opened yourself up to receiving details on properties of interest to you. Depending on how you have registered, you can now receive latest property information by way of full colour details being sent though the post, by email, by SMS property texting direct to your mobile phone, or direct to your landline phone.
Top Tip: The more ways an agent can contact you will ensure you hear all about the latest properties. It is always best to leave as much information as possible for your estate agent.
Finance & Mortgages
Arranging your finance is just as important. When registering, also speak to a mortgage adviser, independent or one that is tied to an estate agent. Then you will know how much you can borrow and what costs are involved.
Having received details and seen your financial adviser, you are now ready to commence viewings. Such visits to all our properties must be made by appointment. We are open seven days a week to make these appointments.
Making An Offer
Having viewed the house of your dreams, sometimes maybe twice or even three times, you are now in a position, subject to status, to make an offer. This can be done by making your interest known to us. We will then liaise with our vendor verbally and confirm in writing any offers made.
An Accepted Offer
It is now time formally to instruct your solicitor to proceed. At the same time you should instruct your mortgage broker to proceed with your mortgage application.
Having had an offer accepted, you are now ready to instruct solicitors. He or she deals with the legalities of property conveyancing, and with our experience we can suggest a solicitor local to the area that you intend moving into.
The vendor's solicitors need to issue a draft contract and send it through to the buyers'
Local Authority Search
This is known as a standard search; your solicitor will apply for it from the local council, to make sure there are no planning or local issues attached to the property or the surrounding area.
Your lender will need to carry out a survey. There are various types and your broker will help you decide which one is appropriate. This will identify any problems and the surveyor will always comment on the valuation of the property.
Your solicitor at this stage of the proceedings should have received the results of the local authority search and answers to the preliminary enquires should also have been received. The draft contract should now be approved by your solicitor and, provided there are no further enquires; you should be closing in on the elusive exchange of contracts.
When your mortgage is issued, instructions will be sent to your solicitor as well. Once you have received your mortgage offer you should be ready to exchange contracts.
Exchange of Contracts & Deposit
This is the point where the contract is signed by you and the seller. A legal requirement is normally a 10% deposit of the purchase price but this can be reduced if vendor agrees. It is in the form of cleared funds and paid to your solicitor. Before exchanging contracts a completion date must be agreed by both parties.
This takes place after exchange and is within a 28-day period, although, depending on the chain and personal requirements of others, it can be flexible.
Balance of Monies
The balance of monies are transferred from your solicitors to the seller's solicitors' account and you should receive a phone call from your solicitor on formal completion. When these monies are received by the seller's solicitors you will be able to collect your keys from the selling estate agent.