The Buying Process
Sterling’s simple steps to buying a property:
STEP 1: Register yourselves with Us
Feel free to register online, call us on +44 207 402 4000 or pop into our office – whichever is most convenient for you
STEP 2: We start searching
Information is key. Once we have qualified and understood your search criteria we can select suitable properties that may be of interest
STEP 3: Mortgage Arrangements
Sterling suggests that mortgages should be agreed in principal to make the process easier once you have found a property you like. Since we are independent estate agents we are not tied and can recommend several mortgage brokers who can search the market to find a deal that best suits you.
STEP 4: Property Viewings
We work around your schedule and understand that for most clients, Saturdays work best for viewing properties. Our opening hours are Monday to Saturday, 9.30 am – 6pm.
STEP 5: Make an Offer
We will put your offer forward to the seller, in writing and verbally. However, every offer is still subject to contracts being signed by both parties.
STEP 6: Legal Paperwork/ Conveyancing
Solicitors will get involved at this point to handle the relevant paperwork. We have a selection of solicitors that we use on a daily basis and can whole heartedly recommend you use.
STEP 7: Sale Agreed
Once the seller has accepted your offer, you must instruct your solicitor to proceed. Exchange and completion dates will be confirmed and this is also the time when you should ask your mortgage broker to confirm your finances.
STEP 8: Surveys and relevant Searches
A contract will be sent from the seller’s solicitor to your solicitor. At this point, your solicitor may request searches to be done on the property and go through the information provided in the Home Information Pack.
The surveyor will also have to be booked in to view the property on behalf of the mortgage lender in order to give their judgement of the property value and whether there are any structural concern.
STEP 9: Contracts Approved and Formal Mortgage Offer
Providing there were no other queries and all the local searches were carried out the contracts will be approved and finalised by your solicitor. Your solicitor also has to sign your mortgage documentation and once this has been confirmed you can move to the next step – Exchange contracts.
STEP 10: Exchange of Contracts and Completion
The contract has to be signed by both parties, you and your seller. The deposit (usually 10% of the price) has to be transferred or paid by your solicitor, normally by banker’s draft.
You can then finalise a completion date! The completion can be anything from a few days to a few weeks after you have exchanged contract. On completion the outstanding amount will be sent from your solicitor to the seller’s solicitor and that’s it- you are now a home owner. Congratulations!