Consort Guides - The Buying Process
The Buying Process
We are sure that buying a Consort Home will be the best move you will ever make. Buying a new home is an exciting time and is usually quite straightforward. However, we have set down below the steps involved in buying a Consort home to let you know what to expect. Of course your Sales Advisor on site will always be pleased to assist you with any queries that you may have.
Step 1 - Reservation
Once you have chosen your new home, you will be offered the chance to place a Reservation on it, but what does that mean? You have chosen your plot and agreed to proceed towards Exchange of contracts on or before the date set out on your Reservation form. We in turn have agreed not to sell the property to anyone else and will fix the price of the property as agreed until the end of the Reservation period. We will instruct our solicitors to prepare Contract documentation. This incurs costs and is the reason why we will retain a portion of your Reservation Deposit if you decide not to continue with your purchase. However, should we cancel the Reservation your Reservation fee will be reimbursed in full.
Step 2 - What do you do next?
You now need to contact your solicitor as soon as possible to get the Buying Process underway. Your solicitor will ask for a payment (usually £80-120) to cover the 'search'. The search ensures that there is nothing abnormal with the Title of the property and that there are no plans for the immediate vicinity (ie. a motorway through the back garden!). The search is the item that takes the longest to arrange, and it is therefore important that you solicitor is instructed within the first few days of your Reservation.
Step 3 - During the reservation period
You will probably need a Mortgage to buy your new home. The best way to arrange this is to ask an independent advisor to do the shopping around for you. We may ask an advisor to contact you directly and there is NO Charge for this. The Mortgage advisor works independently for you and is acting only on your behalf, regulated by the Personal Investment Authority (P.I.A.) to ensure that you receive impartial advice. Even if you already have a Mortgage and wish to stay with your current lender, the broker will handle everything for you and will process your application quickly.
Step 4 - The choice is yours!
Now you have chosen your new home, you will be able to personalise it by selecting the kitchen units, tiling, fireplace and other Fixtures*. In addition on most of our developments you will be able to select from our menu of optional extras. All of this needs to be done before contracts are exchanged.
* This is subject to the stage of build
Step 5 - Exchange of contracts
Once contracts are exchanged, our agreement becomes legally binding. At this stage you will be asked by your solicitor for a 10% Deposit (or a £1,000 Deposit if we are taking your existing property as part exchange). If you are selling your existing home, remember that your purchaser will be paying a Deposit, so you may not have to find all this money yourself. If you have any difficulties in finding a Deposit, please speak to your solicitor who may be able to come to an alternative arrangement with our solicitor.
Step 6 - After exchange and before legal completion
During this time your solicitor will be completing formalities and awaiting notice from us that you new home is finished. You will be invited to inspect your new house with a member of our team to ensure that it meets with your expectations. Any minor 'snagging' will be attended to after this inspection. For Health & Safety reasons please make an appointment with your Sales Advisor should you wish to visit your property prior to final inspection.
Step 7 - Legal Completion
Well done! Legal Completion means that you are the owner of your new Consort home! Completion takes place when all outstanding monies are received by our solicitor. This is usually arranged through the bank's Telegraphic transfer system (T.T.) and takes a few hours from the first instruction for the monies to be received. Generally, legal Completion takes place after 12.00 pm so it is best not to arrive at your new home before then. We are unable to hand over any keys or allow access to the property until our solicitors inform us that Completion has taken place. Keep in touch with your own solicitor who will advise you that the money is on its way.
It's that simple..
.......however, if you do have any problems or need help or advice, we are always here to assist you, either through your Sales Advisor on site or from our Sales Department in the office - and we are there for you even after we have handed over the keys. In fact, we will even contact you after six months to give you the opportunity to take a member of our Customer Care Team around your new home to discuss any matters that you think are in need of our attention.
