Step 1: Arranging your mortgage
Before you begin your property search, it is advisable to arrange your finances and, if required, have a mortgage agreed in principle. This will confirm how much money you will have to fund the purchase, which will ultimately influence your property search. Our in house mortgage advisers would be happy to assist you with this.
Step 2: Finding a property
The first step to finding the right property is to register with Coopers by calling or visiting one of our 7 branches where you can discuss your property requirements with one of the team. Once we have an understanding of your requirements you will receive a selection of properties that match your criteria. The team will also keep you up-to-date via email when suitable properties become available.
Step 3: Viewings
Coopers trained and experienced staff are on hand to accompany viewings and will be able to provide insight on the local area and the property itself. Second viewings are advisable if you are considering making an offer on a property.
Step 4: Making an offer
Once you have identified a suitable property we will put your offer forward to the seller both verbally and in writing. We will aim to get as much information from you before putting your offer forward to our client such as your financial situation and if you need to sell a property to proceed.
Step 5: Offer agreed
Once your offer is accepted we will: prepare a memorandum of sale, write to all parties to confirm the agreed price, ask you to provide your solicitor's details (we can provide recommendations) and mortgage broker's details. You will then need to instruct your solicitor to proceed with the conveyancing process and your mortgage broker to proceed with your application.
Step 6: Conveyancing
As part of the conveyancing process your solicitor will: raise any enquiries on receipt of the draft contract from the seller's solicitor, request local searches, refer to the information provided in the seller's Home Information Pack, agree on a date for exchange of contracts. We will keep you informed every step of the way.
Step 7: Survey and mortgage offer
A survey of the property will be booked by a surveyor on behalf of the mortgage lender to identify any structural problems and advise on the property's value. After the mortgage valuation report is received, a formal mortgage offer will be sent to you and your solicitor which you will need to sign before it is returned.
Step 8: 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 telegraphically transferred or paid in the form of a banker's draft from your solicitor to the seller's solicitor. The completion date is then set by mutual agreement.
Step 9: Completion
Completion is when the funds are transferred from your solicitor to the seller's solicitor's account. We will release the keys to you once the money has cleared in the seller's account. Congratulations, you are now the legal owner of your new home!
Have a question? Give your local branch a call 01895 625 625
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