The Buying Process

A Step-By-Step Guide

Step 01 - Mortgage Approval

As you begin your search for your new home, the first step is to find out how much your bank or building society will lend you for your mortgage. Chrystals has teamed up with leading mortgage adviser Edgewater who can offer Chrystals customers great deals, as well as free and impartial financial advice.

Step 02 - Search for your new home

Now that you know how much you can borrow, you'll have an idea of what budget you have. Carefully consider what your new property needs to have from a practical point of view, and then think about the things you would like it to have. Also think about your ideal location and what sort of property you would like to live in.

Step 03 - Make an offer

Once you have found your ideal property try to find out as much as you can about it, such as whether the seller wants a quick sale. You'll find a great deal of information on this website, but if you have any further questions Chrystals staff will help in any way they can. Once you know everything you need to about the property, make your offer but remember to stick to your budget.

Step 04 - Negotiations

Your first offer may not necessarily be accepted. Be prepared to return to the seller with a higher offer. Chrystals will act as the middleman so you don't have to worry about dealing with the seller directly.

Step 05 - Offer accepted

Once you've had an offer accepted you need to appoint an advocate. If you have not used an advocate before, shop around for quotes and follow up any personal recommendations. Your advocate will take over the legal issues and make sure that all the relevant checks are made.

Step 06 - Land registry search

Firstly your advocate will check to ensure that the seller has the right to sell the property and there are no outstanding rights over it - e.g. a loan secured against it. Your advocate will then register the transfer of ownership into your name.

Step 07 - Local authority search

Your advocate will now check to ensure that there are no local plans that may affect the value of the home - e.g. the building of a new road or supermarket.

Step 08 - The survey

There are three main types of survey. A valuation survey is required by your lender to check that the value of the property covers its loan. In addition you can opt to have your own, more extensive survey undertaken. You can either pay for a home buyer's report, or obtain a full structural survey which is more expensive but very thorough.

Step 09 - Exchanging contracts

Once your advocate has completed all the relevant checks and you have agreed a draft contract, it is time to exchange - at this point you sign the contract and pay the deposit. If you pull out now you will lose your deposit. Once the contracts have been exchanged a date for completion of the purchase can be agreed. Upon exchange of contracts it is the purchaser's responsibility to ensure that the property is insured.