Buying Process


1Planning

Moving home is a big decision, so the first thing to do is decide what you want to achieve from your move and if it is financially possible. Now is the ideal time to make initial contact with your mortgage advisor to assess the cost of moving – Hern and Crabtree have teamed up with MT Polo financial advisors who can help you find the best mortgage deal.

 

At this stage it’s also a good idea to prepare your property for selling if you have a property you would need to sell in order to buy. It’s never too early in the process to get some help from the experts about what they think about any jobs you might like to do to your property to prepare, and to seek their advice on your property and circumstances.

(Free tip- even if you aren’t ready to move just yet you can still contact Hern & Crabtree now to arrange one of our experts to pop over and talk you through everything - we understand that everyone has questions that are unique to them and we are happy to help to answer where we can so they can prepare properly).

2Find a buyer for your home &
register your details with agents

The best agent to do this will have a bespoke approach that will be tailored to suit you and your property. The best estate agent for you will help to realise the best price for your home, help you find a property and listen to you.

 

Even if you don’t need to sell to buy it’s still a good idea to contact your local estate agent to register your details, along with your list of requirements for your new home. We will listen to you about what is important to you, exactly what you want and when we have properties that are suitable for you, we’ll get in touch to tell you all about them!

(Free tip- when you get estate agents to price your home, make sure they demonstrate knowledge of comparable properties, so you know their price is realistic and achievable to avoid disappointment later)

3Make an offer

Once you have found the ideal place for you, now is the first nerve wracking part - trying to secure it. Factor in spending on any work you need to do, but remember that work might already have been allowed for in the asking price. For guidance on what to offer it’s probably best to pick up the phone and speak to the selling agent who will be able to give insight on that particular property.

 

(Free tip- the seller of the property is more than likely to want to hear that you love their home and are impressed with what they have done and / or the potential or something to flatter them!).

4Offer agreed

Offer agreed, now it’s real! At this stage all parties involved will instruct solicitors who will work on the legalities; preparing contracts, applying for searches, raising and replying to queries. At the same time the mortgage application runs its course via underwriters and requisite financial checks. Timescales for this step vary greatly depending on how many properties and mortgages are involved in the chain and if any unforeseen issues come up.

5Surveys

As soon as your offer is accepted, this is the time get a survey. If you require a mortgage the lender will often wish to ensure the property value is enough to secure their loan against it. You often can upgrade or have a separate survey. Likewise, if you are planning improvements now is the time to get quotes ready.

 

(Free tip- as a general rule the older the house, the more in-depth the survey might be - your surveyor should be able to match the type of survey to suit the property).

6Agree moving dates

Agree moving dates. Once your solicitor is satisfied that they are ready they will contact you to discuss moving day! If there is a long chain it is often helpful to be a bit flexible in order to find a suitable day that suits everyone in the chain.

 

(Free tip- it’s a good idea to agree rough dates for moving at offer-stage so the whole chain is aiming for the same time to avoid any costly last-minute misunderstandings).

7Exchange of contracts

Once all mortgage offers are out and contracts are signed the solicitors involved will exchange contracts - this, in effect, is when there is a legal obligation to complete the transaction and this is when the move/completion day is fixed.

8Completion / moving day

Move! This is the day legal completion takes place. Unless otherwise agreed, you will only be able to collect the keys for your new property once all funds are transferred and the seller’s solicitor confirms that they have received funds in full.

 

(Free Tip- moving day can be stressful with lots to do., We recommend trying to ensure that all funds are applied for early on in the day to prevent delays later on).

9Crossing the T’s

The boring bits! Once you have your keys for your new property it’s time to “dot the i’s” by reading the meters, notifying suppliers, setting up mail redirecting, etc.

 

(Free tip, see our checklist for a break-down).

10Relax

Congratulations! You are now the proud owner of your new home! Take some time out to enjoy settling in and maybe take a holiday. With the right estate agent, solicitor and mortgage professional, the whole process will have been as stress free as possible and you will feel able to relax in your new dream home.

 

(Free Tip, while keeping costs to a minimum is important, spending in the right places can make your move a much smoother experience so make sure you use a recommended estate agent who understand that this process is a vital part of moving and will keep things going when they could otherwise go wrong).

Disclaimer:  This information is provided as a guide only and may not reflect your individual circumstances. You should obtain professional advice when buying or selling a property and Hern and Crabtree accept no liability if you rely on the content of this guide and do not obtain professional advice.

Sales

Our highly experienced team are well equipped with extensive local knowledge and expertise to assist in selling your property. Our sales progression team has been developed to ensure all parties are kept informed and the sales process moves forward smoothly.

Lettings & Property Management

We work with a number of landlords across Cardiff and the Vale of Glamorgan to manage and maintain their property. This includes finding suitable and reliable tenants while ensuring the property is well looked after and payments are managed.

Probate Services & Estate Management

Our Estate management and probate valuation services are available across the UK. We offer a bespoke service depending on the client’s needs and have experience working across Wales and England.

Land, New Homes & Part Exchange

We assist property developers of all sizes with many aspects of development land and new homes; assessing and finding potential development land sites, marketing and selling new build property and the valuation and disposal of part exchange property.

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Fees

Refundable Holding deposit - Capped at 1 weeks rent

Security Deposit - Capped at 5 weeks rent for annual rental under £50,000, or 6 weeks rent for annual rental over £50,000

Rent - The agreed monthly rent

Changes to tenancy - Capped at £100 inc VAT

Early termination charge - Not exceeding the landlord’s financial losses

Late payment of rent - Interest of 3% above BoE base rate for each day the rent is late, once it is 14 days overdue

Replacement keys - Reasonable costs or give the tenant the option to purchase themselves

Utilities, council tax, communication services, TV Licence etc - Tenants own responsibility unless otherwise stated in contract