The Buying Process
Register with RNR Sales
This is the first step to buying your new home!
You can register over the phone, or if you're passing by why not pop in, meet the team, have a coffee and register with us in person.
If you have a property to sell, we strongly recommend you place your property on the market before searching for your new home. This will give you a good idea of market conditions and realistic house prices; once you find the perfect home it will also demonstrate to the vendor that you are a committed buyer.
When the right property comes along, you'll want to be able to act immediately, so get your finances sorted out as soon as possible.
If you require a mortgage, it is important to speak to a mortgage advisor as early as possible to determine how much you are able to borrow.
Our mortgage advisors can help you work out how much you can afford and will go through your options for managing your money, including choosing a mortgage and sorting out protection plans.
Find your perfect property
We will have noted all of your property requirements when you registered with us, so now the search begins!
We will give you details of all the properties we currently have available that meet your criteria and will keep you updated as new properties become available.
In order to secure a property we recommend an early viewing.
We can chauffeur you to your viewings, so you arrive in a relaxed frame of mind and will accompany you throughout, so that we are on hand to answer any questions immediately and advise where necessary.
Making an offer
Once you have identified a suitable property we will put your offer forward to the seller both verbally and in writing stating any special conditions of the offer. You may need to demonstrate, if requested, that you are able to proceed (e.g. provide evidence of your mortgage agreed in principle).
There are no legal obligations on either side until contracts are signed.
Once your offer is accepted we will:
- Prepare a memorandum of sale
- Write to all parties to confirm the agreed price
- Ask you to confirm your solicitor's and mortgage broker's details
You will now need to instruct your solicitor to proceed with the conveyancing process and your mortgage broker to proceed with your application.
The property needs to be legally transferred from its current owners to you. This process is known as conveyancing.
As part of the conveyancing process your solicitor will:
- Raise any enquiries when they receive draft contract from the seller's solicitor
- Request their own local searches
- Agree on a date for exchange of contracts
We will assist your solicitor and negotiate throughout the process, keeping you informed every step of the way.
Survey and mortgage offer
Before your mortgage lender makes you an offer, they'll need a mortgage valuation to check that you're not borrowing more money than the property is actually worth.
At this stage you may want to consider a homebuyer survey or building survey. This provides a far more detailed assessment of the condition of the property.
Once your mortgage lender is happy, they'll send your mortgage offer, including details of the terms, to you and to your solicitor.
Exchange of contracts
The formal exchange of contracts agrees the terms of the sale and makes them legally binding on both you and the seller.
Before the formal exchange, you'll need to:
- Finalise and sign your mortgage documents
- Send your deposit to the seller's solicitor
- Sign your contract
Once the exchange has happened, you can look forward to the completion date when the money gets transferred, and the property legally changes hands. This is normally four weeks later, but you can choose to exchange and complete on the same day if you wish to.
The terms of the sale are now legally binding, which means that your deposit is not refundable if you change your mind. Equally, the seller is obliged to sell to you at the price you've agreed.
This is the point when you know it was all worth it. On or just before the day of completion, your solicitor will pay what you owe to the seller's solicitor.
Once you've had the call to confirm that the money has been transferred, the transfer document and title deeds will be yours. You can pick up the keys.
Welcome to your new home!