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BUYING GUIDE Buying Guide

Here is our guide to buying a property with Chris George.

When you begin your quest to buy a property in Kettering and the surrounding villages, make sure you register with Chris George The Estate Agent – either via our website, by telephone, or by visiting our office in The Horse Market. As soon as new properties meeting your criteria come onto the market, we’ll alert you by email and/or phone.

It’s well worth making sure your finance is in place as soon as possible so that you can act swiftly to secure the home of your dreams. Having everything in place and agreed in principal even before you start to look at properties can give you the edge in a competitive marketplace. If you have funds in cash savings or shares its best to make sure you can access them with ease and that there are no penalties for withdrawal. And if you need a mortgage we can put you in touch with an expert mortgage advisor who will guide you through the complete application and approval process. And don’t forget to budget for any repairs, renovations and removals costs as well as stamp duty, which is currently charged at these rates:

Purchase price of residential property Stamp duty rate
(% of total purchase price)
£0 – £125,0000%
£125,001 – £250,0002%
£250,001 – £925,0005%
£925,001 – £1.5 million10%
£1.5 million or more12%

Tip: Make sure you instruct a solicitor early in the purchase process. We can recommend a solicitor or conveyancer for you if you don’t have one.

When we have found a property you like, discuss with us the offer you would like to make. We’ll ask you a few questions to confirm how you intend to fund the purchase and clarify details such as the availability of the deposit – usually 10 per cent of the purchase price. If you already have a mortgage arranged, we will ask you to provide and agreement in principal (AIP) document and we’ll need the details of your financial advisor so that we can clarify the timeframe for processing your application. If you are a cash buyer we’ll require evidence of finance. However you are funding the purchase we’ll be there to help guide you through the purchase process.

Tip: Although we are working on behalf of the seller, and are therefore obliged to maximise the value we achieve for their property, we of course make sure our offer advice to you is realistic. After all, the sale will only happen if both parties are satisfied.

If you’re buying with a mortgage the lender will arrange a survey as part of the process. This is to protect their interests by valuing the property and highlighting any major defects that would negatively affect the security of their loan.

Tip: You can also get what is called a home-buyers report, which gives more detail on the condition of the property.

Once your mortgage lender has received the survey report and are satisfied the loan amount is realistic given the valuation, they will issue a mortgage offer to your solicitor.

When an offer has been agreed between you and the seller, we will contact each party’s solicitors to confirm details of the sale. Offers are not legally binding until contracts have been exchanged. We will liaise between you, the vendor and respective solicitors in order to monitor the progression of the sale as well as keeping tabs on any others in the sales chain. This helps make sure the purchase goes through on time.

The sale becomes legally binding on both sides only when contracts are exchanged. This can happen only when you have paid a cleared deposit – usually 10 per cent of the purchase price – to your solicitor’s account. Once everyone has been notified of exchange, a completion date is set by mutual agreement and this is also legally binding.

Completion is the term for moment when your property purchase is finalised. The moment you have been waiting for! Your solicitor and mortgage lender will transfer the outstanding balance to the seller’s solicitor. Your solicitor will contact you and us when this has happened allowing us to release the keys and you to move in.

Every property on our books is truly unique… and so is the service we offer.
Take the first step. Get in touch, call now for a free valuation.

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