Step by Step guide to buying with NS Estates
Register with NS Estates
Register with NS Estates
The more information you provide us regarding your requirements, the more suited properties we’ll be able to send you via email or in the post.
We will endeavour to arrange viewing appointments to suit your best available days / times in conjunction with our vendor’s requirements.
Are you arranging a mortgage?
If you are buying with a mortgage, to be in the best possible position to proceed we recommend you visit our in-house mortgage specialists. They can provide you with a FREE initial consultation, taking into consideration your requirements, circumstances and other necessary information to give you advice on your affordability as well as take care of the whole mortgage process from beginning to completion. If you are interested to speak to one of our mortgage advisers please click here.
Making an Offer
When you have found a suitable property and wish to make an offer, we will immediately submit any offer to our vendors. Any offer you make on a property is subject to contract (STC) and all offers are to be made to NS Estates directly. In accordance with current money laundering legislation we will ask that you provide some information on the source of your funding for the purchase of a property. For Example; Proof of mortgage, proof of deposit and identification.
Once an offer has been accepted by the vendor, we will arrange for the agreed terms to be confirmed in writing to all parties. At this stage you will also need to formally instruct a solicitor to commence the legal process. You should also contact your Mortgage Adviser to proceed with your mortgage application. Please be aware that although this stage is commonly referred to as ‘Sale Agreed’, the terms are not legally binding until legal contracts have been signed and exchanged. As part of this process it is advisable to agree target completion dates in advance.
Appointing a Solicitor
Before a sale can proceed any further, you will need to appoint a solicitor / licensed property conveyancer to begin the legal process. NS Estates work closely with various local solicitors and we can appoint a solicitor at your request. Please ask for further details at this stage.
Upon appointment of a solicitor, all parties will receive a Memorandum of Sale from the selling agent. Once the seller’s solicitor has obtained the property title deed and other relevant documentation, they will prepare a draft contract of sale. Your solicitor will examine all paperwork, raise enquires and related matters about the property. You will also be asked to pay for disbursements / searches such as; Local Authority Search, Water/Drainage Search and Land Registry Search, to name a few.
If you are arranging a mortgage, your lender will require a mortgage survey to be carried out of the property. This can be arranged through your Mortgage Adviser or directly through your lender. Please be aware that a standard mortgage survey provides a valuation of the property and ensures the property is good security for lending purposes, it does not provide a detailed structural survey of the property. You may however, choose to purchase a more detailed survey report, such as a Home Buyer report or structural building report which will give you an in depth analysis of the whole property and highlight any problem areas.
Once your mortgage lender has accepted all of your credentials and the property is deemed suitable for lending purposes, the mortgage terms and conditions will be underwritten and a formal Mortgage Offer will be sent to you and your solicitor.
Once your solicitor is happy that all enquiries have been replied to and all searches for the property have been received, both solicitors can agree dates, allowing both parties to be given enough time to arrange removal / storage etc. Amidst this, your solicitor will apply for the mortgage funds from your lender in readiness to exchange/complete on the intended date. The contract is signed by both you and the seller with your respective solicitors and the relevant deposit is forwarded to your solicitor.
Exchange of Contracts & Completion
On the day of Exchange / Completion, signed contracts for the property are ‘Exchanged’, the mortgage funds / balance of purchase monies will be transferred from your solicitor to the seller’s solicitor and the transaction is then complete.*
Once contracts are ‘Exchanged’ the transaction becomes legally binding to both parties.
Exchange & Completion don’t always occur on the same day (client preferences are taken into consideration by each solicitor)
Once the property has been vacated and legal completion has taken place, NS Estates will contact you regarding key collection / access arrangements.