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Looking to Buy Property in Barking, Ilford, East Ham - Garrison Property Ltd

Buying property with Garrison Property

Buying a property is one of the biggest purchases of your life, and as an acknowledgement of that fact, we want to make this process as seamless as possible. We know in reality it may not run as smoothly as one would like, bearing in mind there are normally two sides to every sale and in some extreme cases, multiples. Our job is to make sure that we elevate and minimise any adversities and to assist you with the buying process as quickly and painlessly as possible.

To understand the process, we have set up various procedures you need to be aware of:

Registration: We have contingencies in place for prospective buyers, therefore when you first register your details with us we will instantaneously search our database for properties that matches your search criteria.

Viewing: Our sales department are always on hand to arrange viewings of the property of interest.

Mortgage: : Getting a mortgage agreed in principle is advisable before making a final decision on your prospective property. Naturally, this will give you a clear indication of what your budget will be. If you need assistance in finding a mortgage provider or mortgage advice, we are happy to recommend you a suitable mortgage broker.

Making Your Offer: : Now that you have an agreement in principle in place, your offer will be submitted by us to the vendor for their consideration. This is done both verbally and in writing. It is important to note that all offers are subject to contract, meaning neither party are legally bound until said contract is signed.

Instructing Solicitors: When you get confirmation that he vendor has accepted your offer, it is then you should instruct a solicitor to act on your transaction. The solicitor job is to deal with all legal aspects relating to you purchase otherwise known as conveyancing. Your financial broker or mortgage lender would also be in the process of arranging the paperwork to administration your mortgage application.

Survey: As part of the mortgage application process, it is required by law to obtain a Mortgage Valuation. This is where the mortgage lender will instruction one of their panel Chartered Surveyor. This report is to provide by the surveyor to the lender to determine whether the property is suitable security for lending purposes. For example, if the loan required is secure against the valuation figure or the property is habitable or the general condition of the property. You will be provided a copy of the report for your perusal, this allows both parties to evaluate the findings prior to entering into a commitment to purchase.

Mortgage Offer: The Lender has now conducted all references, credit checks along with the Mortgage Valuation report and they are happy to issue a formal mortgage offer. They will send a copy of the mortgage offer to you and your appointed solicitor.

Searches: These are conducted by your appointed solicitor who submits a local authority search to the local borough council. Its purpose is to ascertain if there is any planning consented previously granted on the property or if there are any other local issues which may have an impact on the purchase. In some instances, the search may also include an Environmental and Drainage search.

Draft Contracts: The draft contract is drawn up by the seller’s solicitor and is forwarded to your appointed solicitor for consideration. A deposit normally a small percentage between the loan amount the purchase price is paid by either bank transfer or banker’s draft to your appointed solicitor.

Exchange of Contracts: Once the contract has been signed by all parties. At this stage, the parties agree on a date for completion. The offer is then signed and returned and funds requested by your appointed solicitor.

Completion: Completion will take place based on the agreed date after exchange of contracts. The balance of the purchase price is transferred by your appointed solicitor to the seller’s solicitor and then the keys released.

We value our customers, which is why we are willing to do that much more to see that you get exactly what you are looking for. We offer a service to locate your ideal home, irrespective to how big or small the budget.

As an estate agent, we are a great advocate of “wherever I lay my hat,” therefore we would love to assist with the buying your dream home.

* Please note: Additional Buyers Fees may be applicable, please contact us for more details.

Garrison Property Ltd

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