Buying a home
Finding your new home with Everest
The Buying Process
We highlight the key stages of the buying process, from registration to completion.
1. Registering with Everest
Whether you us contact directly by phone or email us our Sales Advisors will need as much information as possible about you and the type of property you are looking for.
The more information we have the better we can help you find your ideal home.
We have excellent local knowledge – so even if you are new to an area we can help point you in the right direction about local schools, transport and the area in general.
Before you begin your search it is important that you are clear on your budget. Check with your financial advisor what size mortgage you are able to obtain, and then with your deposit how much you will be able to afford to pay for your new home. The mortgage market is ever-changing so you must get up-to-date advice. If you are selling a property you will need to take into account the likely sale price of your current home – read more here.
You will also need to take into account the costs involved with moving such as stamp duty, legal fees and removal costs.
To register either call your local office or register online.
2. Searching for your Ideal Home
Decide on what type of property you need. Make a list of your requirements or features of your new home. Split the list into ‘must haves' and ‘would likes'. It is well known that in most cases you don't buy is not the one you initially set out to buy – there will always be compromises. However we understand that there will be ‘must haves' that can't be compromised on; for some it might be the number of bedrooms, the location, parking or whether there is a downstairs loo. But there will be other features that you can forgo if everything else about the property is 'just right'
Once we have a clear picture of your requirements we will then recommend properties that match your criteria. If there is nothing immediately suitable, we will keep a look out and alert you as soon as a suitable property becomes available. We will also keep you appraised of alternative options that could suit you as well.
We always urge you view as soon as possible as the best properties always move quickly.
3. Viewing Properties
When you see a property you like the look of, contact us to arrange a viewing.
Wherever possible we will hold keys so are able to organise viewings at times convenient to you. However in some cases a time will need to be agreed with the current owners. If you can, be flexible and have a few different times available.
The weekends are always busy times for property viewings and it's likely that if a property is getting a lot of interest from buyers, we may arrange to hold an ‘Open house'. In such cases you will be given a time slot to come and view the property.
Spending even a few minutes viewing a property will give you much more of an idea if the property is right for you and provide you with extra insight which the property details and video won't fully do.
4. Making an Offer
When you have seen the right property, again don't delay in letting us know of your interest. A popular property will receive a great deal of interest, and if you delay making an offer you may lose out.
We will ask that you put your offer in writing, confirming your position and financial details. We will ask you to speak to our independent financial advisor. This will help us validate your position so we can speak to our vendor client about your offer with confidence and certainty. (Please note you are under no obligation whatsoever to speak with our independent financial advisor – your offer will be put forward without any bias. All we ask is that the more information we can give our vendor client the better chance an offer will be accepted).
Offer are subject to contracts being signed and exchanged. Until such time as exchange takes place there are no legal obligation to proceed on either side.
5. Sale Agreed
When the offer is accepted, we will write to all parties giving details of transaction. This will put the two sides' solicitors in touch to begin the legal work.
You will need to begin your mortgage application and make arrangements for a survey.
A solicitor or conveyancer will need to handle the legal paperwork, and liaise with the vendor's solicitor. We have access to a panel of local solicitors and conveyancers who we can recommend. Please also bear in mind that if you are raising a mortgage to buy, the mortgage company will require you to instruct a recognised solicitor/conveyancer, so before you go any further check your legal representative is able to work with the lender.
7. Survey & Valuation
Your mortgage lender will require for a survey to be carried to identify any issues that may affect the property that may affect the lenders position. They will also provide the lender with their opinion of the value. This is a valuation survey carried out on the lenders behalf to ensure the money they are lending you is safe. If you require a more detailed report such as a home buyers report, this will need to be instructed at this time.
Your solicitor/conveyancer will carry out searches with the local authority to check the properties status and title. If the property is leasehold they will contact the managing agents for service charge and ground rent account. They will also check there are no outstanding costs or any planned works you are not aware of.
Once they are happy with the results of their enquiries, the seller's solicitor and your solicitor/conveyancer will draw up and agree the draft contract. You will be sent a report explaining the details of the contract and any ongoing obligations you are entering into. If you are satisfied you will be asked to sign the contract and pay the agreed deposit.
9. Formal Mortgage Offer
The mortgage offer will be sent to your solicitor for you to sign. Once signed and returned, the mortgage is in place and you are ready to exchange contracts.
10. Exchange of Contracts
The contract is signed by both the buyer and the seller and the deposit is paid. The transaction is now legally binding and the completion date, when you are able to move in, is set.
Following exchange of contracts your solicitor/conveyancer will carry out final checks ready for completion. On completion day the balance of money paid over. Once the seller’s solicitor confirms the money is in their account the keys can be handed over and you are now the legal owner of your new home!