The buying process.
First let's get registered
We offer many different ways to register, either at one of our friendly Thanet branches, on the telephone, or online registering requiring very little personal interaction, such as email or directly on this website. This allows us to start searching for a property across all areas and offices providing you with every available property and we will then keep you informed until you have found a new home or tell us you have stopped your search.
Finding a mortgage
Finding a mortgage that is right for you you can save a lot of unnecessary headaches especially when there is a difficult financial market and borrowing is difficult. Our recommended mortgage advisor will consult with you on the various aspects of obtaining a mortgage. For a rough estimate our online calculator within our property detail pages can help.
Chauffeured accompanied viewings
We’re here to help and will try to be as flexible as possible arranging viewing times to suit you. This can be after work and at weekends. We recommend an early viewing to avoid missing out on the home of your dreams or that once in a lifetime bargain. We can even chauffeur you to your viewings ensuring you arrive in a relaxed frame of mind. We then 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 as quickly as we can both verbally and in
writing stating any special conditions. There can occasionally be a delay if
the vendor is away, lives abroad or we are dealing with a company so please try
and be patient, we know you will be excited. We can assure you we want to sell you a property as then everyone is happy.
Don’t be offended, or think we are trying to be nosy, but you will need to demonstrate that you are able to proceed financially with the purchase.This maybe by providing evidence of your mortgage agreed in principle or some other proof of funds such as an up to date bank statement. We would of course redact any sensitive information such as account numbers. This is especially the case if you are looking to buy a repossession or probate property. Do remember there are no legal obligation on either side until contracts are exchanged.
Offer agreed, congratulations, now our hard work really starts
Once offer is accepted we will confirm the terms in writing to all parties involved, and hopefully set up dates of exchange and completion, This is when you will need to give the go ahead to your solicitor and arrange surveys and proceed with mortgage. They may require a payment in advance so be ready.
We now need your help
We will ask you to confirm how you will be financing your purchase and, if you need a mortgage then we will need your mortgage broker's details. You will then need to formally instruct your solicitor to proceed with the conveyancing process and your mortgage broker to proceed with your application. They will not go ahead without your confirmation. We can then send out a memorandum of sale and write to buyers / vendors and solicitors to confirm the agreed price and basic terms.
Don't delay or you may miss out
Remember though that contracts are not binding until contracts have been signed and exchanged so it is important to reply to any letter or requests as quickly as possible to save unnecessary delays.
Now it is time to process the legal work by your appointed solicitor or licensed conveyancer. We can assist you and recommend a professional, who we know personally and will work hard for you whilst giving us regular updates to help things progress. In the interests of openness and honesty some solicitors do pay us a token referral fee, but experience has taught us that the best solicitors are not necessarily the ones who pay the most and are situated in a faceless call centre somewhere.
Contracts and searches
Once the title deeds are in the hands of your solicitors he/she will carry out necessary searches via the land registry and to ensure there are no problems with the legal aspects pertaining to the property. Once the solicitor has all replies and is satisfied they will report to you and you should be ready to exchange contracts, subject to having finance in place.
Surveying your property
The lender will usually require that the property be checked for any
problems and valued by a qualified surveyor. You may require, for your own peace
of mind , a full and detailed survey such as a home buyers report. Whatever you decision Cooke and Co can help arrange this for you. We may receive a small referral fee from the surveyors for doing this.
Confirmation of your mortgage offer
Once this has been sanctioned you will be informed of terms of your mortgage and any deposit you will have to pay. You may find there is a problem with the property giving rise to a retention, or unusually the property may be down valued. Please don't despair. We are experience and can explain any issue. This usually involves some kind of renegotiation with the vendor and/or getting quotes for work reported in the survey. It is important to remember that if you bought at a competitive price or below market value then this would, in the vendors mind, have already been taken into account when you initially offered.
Exchange of contracts
The contract will now be signed by the vendor and yourself and the relevant deposit paid. Remember, especially if you are on a deadline, solicitors will not exchange without cleared funds so you should allow at least thee days for deposit funds paid to them to clear into their bank account. Usually they will not accept cash payments due to money laundering law. Contracts will be exchanged and now the contract is binding by law, completion is usually 2/4 weeks from date of exchange.
Now you will need to put in motion your removal arrangements and necessary changes of addresses. notes below which may assist you. We wish you congratulations and our best wishes. You are now the proud owner of a new home. Please don’t forget to give us a testimonial and tell your friends how pleased you are.
Fees when buying
Costs unfortunately are part of the process and the pain can be eased if you are aware in advance and ask you can budget accordingly.You may have to find all or some of the following arrangement fees
- Mortgage advisers fees
- Solicitor's fees
- Survey fees
- Local searches
- Legal title and money transfer fees
- Removals Costs
Our staff are there to help you should you need assistance or explanations and can , in some cases, facilitate online quotes for you.
Helpful moving checklist
Here are some things that you may need to arrange and are easily forgotten,
- Arrange removal dates
- Inform the post office of your new address (mail redirection)
- Change contents insurance
- Arrange buildings insurance on exchange.
- Arrange readings for utilities on moving day.
- Arrange for the phone/broadband transfer
- Settle any outstanding bills on old property.