Step by step buying guide

A step-by-step guide to buying a property…

Buying a property, they say, is one of the most stressful events we endeavor. This step-by-step buying guide gives you an insight into the process of buying a property.

Step 1 - Arranging your mortgage

We will not try to sell you a mortgage as soon as you pick up the phone to us. It is however advisable to arrange your finances and have a mortgage agreed in principle. Naturally this will confirm how much you will have to fund your purchase as well as influencing your property search criteria.

Step 2 - Register your interest

The first step to finding your new home is registering with Essex Property Centre. Call us on 01702 602 888, or visit our offices in Southchurch Road where we can discuss your requirements. Don’t forget you can also register on-line via this website, whichever is easiest for you.

Step 3 - Finding the right property

Once we have a clear understanding of your property requirements you will receive a selection of properties that match your criteria. We can also keep you constantly up-to-date via email and telephone alerts when the latest properties become available.

Step 4 - The key to successful viewings

Our offices is open 9am-6pm Monday to Friday and 9am-4pm Saturdays In order to secure a property we recommend an early viewing. We will book viewings quickly and methodically in order to ensure you get to view where you want, when you want. We understand the importance of quick confirmation in order to arrange further appointments via other agents and vendors.

Step 5 - Instructing a solicitor

The instruction of an efficient and experienced solicitor plays an important part in the successful purchase of a property. Consider using a solicitor local to the area in which you are buying. We can recommend local solicitors all of whom work on a no sale no fee basis.

Step 6 - Making an offer

Once you have found a suitable property we will put your offer forward to our vendor both verbally and in writing stating any special conditions of the offer. You may need to demonstrate, if requested, that you are able to proceed (e.g. provide evidence of your mortgage agreed in principle). There are no legal obligations on either side until contracts are signed.

Step 7 - Offer agreed

Once your offer is accepted we will do the following:

• Ask you to confirm your solicitor's and mortgage broker's details
• Prepare a memorandum of sale
• Write to all parties to confirm the agreed price

Now is the time to instruct your solicitor to act on your behalf as well as book an appointment with your mortgage broker to finalise your mortgage application.

Step 8 - Conveyancing

As part of the conveyancing process your solicitor will do the following:

• Raise any enquiries on receipt of the draft contract from the seller's solicitor
• Request their own local searches (An additional upfront charge needed from you)
• Agree on a date for exchange of contracts

We will assist your solicitor and negotiate throughout the process, keeping you informed every step of the way.

Step 9 - Exchange of contracts

Exchange of contracts occurs when all enquiries have been confirmed and agreed. Once the contract has been signed by both parties the deposit (usually 10% of the purchase price) will be transferred from your solicitor to the seller's solicitor. The completion date is then set by mutual agreement.

Step 11 - Completion

Completion is when the residual monies (usually 90%) are transferred from your solicitor to the seller's solicitor's account. We will release the keys once the money has cleared in the seller's account. 

Congratulations, you are now the legal owner of your new home!