Buying a property is probably one of the most important moves you will make in your lifetime.

There are several key steps involved in the buying process - and whether you’re a first time buyer, or an investor well versed in these matters, this quick reference may be of help.

Click each point in the checklist to learn more.

Buying a property is probably one of the most important moves you will make in your lifetime.

There are several key steps involved in the buying process - and whether you’re a first time buyer, or an investor well versed in these matters, this quick reference may be of help.

Click each point in the checklist to learn more.

This is the first step to buying your new home!

You can either register with us online now; you can call one of our 6 branches and register over the phone; or if you’re passing by why not pop in, meet the team have a coffee and register with us in person.

If you have a property to sell, we strongly recommend you place your property on the market prior to searching for your new home. Not only will it give you a good idea of market conditions and realistic house prices, when you find the perfect home it will also demonstrate to the vendor that you are a committed purchaser.

We will have noted all of your property requirements when you registered with us, so now the search begins!

We will give you details of all the properties we currently have available that meet your criteria and will keep you updated as we take on new properties.

If you have a certain area or road in mind and there are currently no properties for sale, Prospect are more than happy to approach homeowners with a mailshot to see if we can find a home for you.

Should you require a mortgage, it is important to speak to a mortgage advisor as early as possible to determine how much you are able to borrow.

They will find you the best possible mortgage deal and can start the application for you. Once the mortgage application has been accepted they will issue you with a certificate for a ‘mortgage agreed in principle’ which can be used to prove to a seller that you have the necessary funds available to finance your purchase.

We have our own highly trained Independent mortgage advisors who would be delighted to work with you to secure you the best possible deal. Click here for more information.

When viewing a property, you may be happy to meet with the current owner and for them to personally show you around their home.

In many cases, we find that prospective purchasers appreciate us meeting them at the property and conducting the viewing ourselves.

During the viewing we should be able to answer any questions you may have regarding the property and its location - school catchments for example. In the event we are unable to answer a particular question during your viewing, we will endeavour to find it out afterwards and promptly call you back

A HIP is a Home Information Pack commissioned by a seller when they place their home on the market.

As a potential purchaser it will be made available to you, offering information about the property such as its energy efficiency in the form of an Energy Performance Certificate (EPC). The EPC resembles the certificates seen these days on domestic appliances, and comparing properties’ ratings can help you determine which might cost less to run.

Click here for more information.

Once you have found a suitable property and are (ideally) in a position to proceed, you can make an offer.

We will put this offer forward to the seller along with any relevant information about your position and proceedability. If the price isn’t right then we’ll do everything we can to negotiate a price both parties are happy with.

Congratulations - your offer has been accepted!

It is worth remembering that there are still no legal obligations between buyer and seller until contracts have been signed.

The property now becomes ‘Sold - Subject to Contract’ and you may wish to stipulate that it be removed from the market if you are in a proceedable position.

You may already have your own solicitor who you wish to use for your conveyancing, if not we are able to recommend local practices who will be only too happy to act on your behalf. Many offer a ‘no sale no fee’ service. You can obtain an approximate conveyancing quote on this page where you can also learn more about the conveyancing process.

Having instructed your Solicitor, you should forward their details to both your contact here at Prospect along with your lender should you be taking a mortgage.

We will then send out a Memorandum of Sale detailing both vendor and purchaser’s Solicitors to inform all relevant parties.

With the conveyancing process now underway, we will provide you with access to our online conveyancing system where you will be able to track your purchase 24-7. Click here to learn more.

Your Solicitor will next apply for local authority searches on the property you are purchasing. You will usually be asked to pay for these up front with a fee of approximately £125 which will have been factored into your conveyancing quote.

Your lender will then instruct a surveyor to inspect the property. Surveys range from simple Valuation surveys to satisfy a lender of the property’s worth, a Homebuyer’s survey providing a broad overview of the property’s condition through to a full structural survey. The latter two will bring to light any particular problems in the areas surveyed and make recommendations where appropriate for their repair.

We advise that you read your survey very carefully and take advice if you are unsure about any point raised. It is not uncommon for a survey to recommend further investigation

Contracts will now be signed and exchanged between both parties’ solicitors. You will also be required to pay your deposit to your solicitor, and it is at this stage that you are legally committed to proceed with the purchase of the property.

If you do not proceed with your purchase after exchange you may lose your deposit; if the seller pulls out, your deposit will be returned. Unless your solicitor employs a ‘no sale no fee’ policy you may still be liable for the legal costs incurred to that point. Once contracts have been exchanged, you should commence buildings insurance cover on the property.

Completion follows Exchange - perhaps on the same day but most often a few days to a few weeks afterwards. A date is often set in advance which enables all paperwork to be in good order and arrangements to be made for transferring funds. Setting a date is vital when a chain is involved and several moves take place on the same day.

Once the completion funds have been successfully transferred from your solicitor’s bank account to the seller’s solicitor, we will be delighted to present you with the keys to your new home.

Congratulations!

Get organised in advance, make lists: there are lots of people to contact and notify - moving day is usually a very busy day and it’s best not to leave anything to chance!

If you have a lot of furniture or possessions it may be worth hiring a removal company to take care of your move for you.

You will need to make sure you have redirected your post and notified your telephone, water, gas and electricity providers and taken final readings too. You should take meter readings when you arrive at your new property too.