1. Booking Deposit* – Once you have paid your booking deposit you will need to give your solicitor’s name to the auctioneer in order that they may instruct the solicitors for the builder/seller to forward us building agreements / contracts for sale and vouching documentation.
2. Loan Approval – In the meantime you should be attending to the matter of Loan Approval and you will need to instruct your Mortgage Broker / Lender of the full purchase price, the property address and your Solicitor details in order that they issue the complete letter of offer of loan approval (i.e. not loan approval in principle).
3. Planning Enquiries – We would also advise at this time that it is important that you make enquiries as to the planning in the area and the likely future development of the locality. The best way to find out this information is to enquire personally with the Planning Department of the Local Authority offices to inspect the planning file and ascertain the development plan, the zoning of the area and any planning application in the local area which may affect the property.
At the relevant Planning Department, you can inspect and ascertain the following:
You will need to do this before you sign a contract and as you are intending on making the locality your home for many years to come it is important that you are satisfied with any proposed development for the locality.
4. Contracts for Sale – Once we receive Contracts, we will contact you and when your written loan approval is to hand, we will make an appointment with you to go through everything.
5. Estimate of Completion Date – When the contracts and balance deposit are returned to the seller solicitors the agreement to purchase is binding and it is a matter of waiting until the house is completed if it is a new house. Standard contracts for new houses do not specify completion dates and provide for the house to be completed within 18 months of signing and thus any indication of completion given is an estimate only.
6. Obtaining a Completion Notice – Once the house has been completed, the builder will issue us with a Completion Notice and we will immediately contact you to advise you of the same. We would advise you to obtain the services of an architect/surveyor to draw up a snag list which should be sent to the builder for completion prior to the closing of the sale.
7. Getting your loan cheque – You must also attend directly with your bank/building Society to all items necessary to have your loan cheque issued in time for closing such as your direct debit mandate, house insurance etc.
8. Get your keys! – We will then arrange to draw down your loan cheque and make an appointment to attend at the offices of the builders’ solicitors for the purpose of completion of this transaction at which time our fees will be payable and you will get the keys to your new home!
We do love to hear from you be it a quick question or something more in-depth, we always try to respond within 1 working day.