Buyers Guide
Step 1 - Register with Burnell’s
We are experts in matching properties to people and require as much information from prospective purchasers with regards to the type of property they are looking for, i.e. type, number of bedrooms, area and price etc. You should therefore either:
- Telephone or call in to our Office;
- Register online
Step 2 - Find a property
You can download full details of all properties that catch your eye from this site, or we will compile a selection based on your requirements which can be e-mailed to you.
Early viewing is strongly recommended to avoid disappointment.
Step 3 - Mortgage
It is always advisable and helpful to obtain a mortgage offer in principle prior to commencing your search for a home. Once you have then found a suitable property you will be in an excellent position to proceed quickly with your mortgage application.
We are pleased to announce that we have an association with a local ‘whole-of-market’ mortgage advisor which means that you will have access to the largest possible choice of lenders ensuring the right product is found for you. The advice and products offered are independent of Burnell’s ensuring you a confidential and unbiased service.
If you would like a free quotation or if you would like an idea as to the cost of your mortgage please click here.
Step 4 - Viewings
We carry out accompanied viewings on all vacant properties together with a large number of occupied properties.
If you would like to arrange a viewing on any of our properties please click here.
Step 5 - Making an offer
When you have found your dream home, we will put your offer forward to the vendor both verbally and in writing. Any offer is subject to a contract being signed. There are no legal obligations on either side until the contract is signed.
Step 6 - Legal
A solicitor is usually required to handle the legal paperwork, i.e. the conveyance. We would advise that you choose a solicitor who is a conveyancing specialist and one who preferably has local knowledge of the area in which you wish to buy.
Step 7 - Sale Agreed
Once your offer has been accepted you should then instruct your Mortgage Broker to proceed with your mortgage application as quickly as possible and you should also arrange for an independent survey if you require one. A Memorandum of Sale will be sent out from our Office to the vendor’s solicitor and a copy to the buyer’s solicitor with copies also sent to the vendor and buyer, and at this point you should also contact your solicitor stressing that he or she proceeds, and you should indicate dates for exchange and completion. An electronic copy of the seller’s Home Information Pack (HIP) will also be sent to both solicitors.
Step 8 - Draft contract and valuation/survey
The seller’s solicitor will send through the draft contract to your solicitor who will then raise some preliminary enquiries and instigate their own necessary searches, or will use the information provided in the seller’s HIP.
A valuation/survey is carried out by a surveyor on behalf of a mortgage lender or you if you do not require a mortgage you may have commissioned your own survey to identity any structural problems and advise on the property’s value.
Step 9 - Contract approval and mortgage offer
Once the results of the Local Search and answers to the preliminary enquiries are received the draft contract is approved by your solicitor on the assumption that there no further enquiries.
Your mortgage lender sends a formal mortgage offer to your solicitor for you to sign. Once signed and returned, and your mortgage is in place, you are ready to exchange contracts.
Step 10 - Exchange of Contracts
Contracts are now ready to be signed by you and the seller. A deposit (usually 10% of the purchase price) is paid by the buyer’s solicitor in the form of a banker’s draft. The completion date is then set.
Completion
This is generally fixed at any time up to 28 days after exchange of contracts depending on each party’s personal preferences. Residual monies (usually 90%) are now transferred from your solicitors to the seller’s solicitors’ account.
Congratulations – You are now the legal owner of your new home!
