Churchill Estates recognise that your search for a property and subsequent transaction is a very exciting, expensive and somewhat stressful period that we hope to be able to help you through minimising the stress at least!

Our database features a range of properties across our various high street offices and we are confident that with our local knowledge and expertise, we will be able to assist you in finding the right property for you.

Feel free to give us a call, email or drop in for a chat on how we can help! In the meantime, we have set out below an overview of the various procedures involved:

REGISTRATION

Firstly, to help us keep you updated with newly listed properties it is prudent for you to register your details and property specifications which can be achieved in a number of ways i.e. by email, phone, in person of by completing our registration form. This will give us an insight into your personal requirements, thereby enabling us to modify the details sent to you.

Once registered, you are then in a position to start receiving details of properties from us directly as soon as they hit the market.

VIEWING

Our friendly team are available to arrange those all-important viewings. Our offices are open 6 days a week: Monday-Friday 09:00 - 18:00 & Saturday 09.00 – 17:00. Please contact us to arrange a mutually convenient time.

MORTGAGE

In a competitive market where properties are high in demand and in order to be in a strong position, it is advisable, if applicable; to arrange to obtain mortgage advice and for a mortgage to be ‘agreed in principle’. This will speed up the process once you have found ‘the one’ and are ready to place an offer. It will provide the seller with confidence that the finances are in order and ready to go if your offer is accepted.

We are proud to recommend Instant Mortgages, a locally based mortgage brokerage and you can find out what they can do to help by visiting https://www.instant-mortgages.com/ or why not give them a call on 020 8498 9222.

MAKING AN OFFER

Once you’ve found ‘the one’, we will request you to make an offer in writing which will be submitted by us to the vendor for their consideration. This is done both verbally and in writing.

NB: Please note that all offers are “subject to contract” and therefore neither party is legally bound until the contract is actually signed.

ACCEPTED OFFER/INSTRUCTING SOLCITIORS

Once you have an offer accepted by the vendor, you should instruct a solicitor to act on your behalf. Your solicitor will handle all legal requirements of your purchase (property conveyancing). We will be happy to recommend a local solicitor to provide a quote for their services. You will also now be in a position to formally proceed with your full mortgage application and instruct your mortgage consultant/broker accordingly.

SURVEY

The next step is to obtain the Mortgage Valuation, as required by law where a mortgage is required. This will be conducted by a Chartered Surveyor acting for and arranged by your mortgage lender. The report is to provide a Valuation i.e. determine whether the amount to be loaned is secure and deals with the basic condition of the property. Since you as the buyer are also provided with a copy, it allows both parties to evaluate the findings prior to entering a commitment to purchase.

NB: However, we would not recommend that a buyer relies solely on the Mortgage Valuation survey to confirm any structural defects as the inspection is limited and although it may cost a little more to obtain a detailed report, this could highlight areas that you may need to consider as additional expenditure to rectify.

There are two types of survey available:

1. HOMEBUYER SURVEY/VALUATION
This is the mid-range option between a mortgage valuation and building survey (see below) It provides a general overview of the property from the floors to the ceilings and everything between. The survey’s purpose is to highlight any pressing or significant defects and problems which are likely to have an overall impact on the value of the property, it will also advise what aspects of the property are in a good condition.

The objective of the Homebuyer Survey is to provide a more in-depth report which will assist the buyer in making an informed decision whether to proceed with the purchase and also whether the agreed price reflects the actual value. Moreover, the professional opinion of the surveyor as contained in his report will also set out particular features of the property which may possibly have an affect on the present value and potential future marketability.

 

2. BUILDING SURVEY
Unlike the Homebuyer Survey, this is suitable for all types of property whether conventional or unconventional. The term “unconventional” encompasses properties that have an unusual construction, are historic or Listed Buildings, have been extensively altered or where major work is planned.

 

The Building Survey is comprehensive and lists full technical details of the construction, materials and condition. It highlights the full spectrum of defects from the more serious down to the insignificant and the terms of the survey are therefore tailored to fit the client’s specific needs. However, it should be noted that this does not include a valuation and is only conducted by prior agreement and engagement from yourself.

SEARCHES

These are conducted by your solicitor who submits a local authority search to the local borough council. Its purpose is to ascertain if there is any planning consent previously granted on the property or if there are any other local issues which may have an impact on the purchase. In some instances, the search may also include an Environmental and Drainage search.

DRAFT CONTRACTS

The draft contract is drawn up by the seller’s solicitor and is forwarded to the buyer’s solicitor for consideration. Any additional queries or questions will be asked and answered, and the contract amended accordingly, subject to final approval.

MORTGAGE OFFER

The Lender is now in possession of the Mortgage Valuation survey and, subject to the findings of this report; receipt/approval of the mortgage application and provided all references and checks have been conducted satisfactorily, the Lender will send a formal mortgage offer to you and also to your solicitor. The document (mortgage deed) is then signed and returned and funds in anticipation of the exchange of contracts will be requested by your solicitor.

EXCHANGE OF CONTRACTS

Once the contract has been signed by both parties, a deposit (normally a small percentage of the purchase price) is paid by either bank transfer or banker’s draft. At this stage, you will confirm your agreement on your long-anticipated date for completion.

COMPLETION

Completion usually follows a few days or weeks after exchange of contracts and would have been contractually agreed when you exchanged contracts. The balance of the purchase price is transferred by your solicitor to the seller’s solicitor and once the transfer has been confirmed by the seller’s solicitor we will be able to release the keys– Congratulations! You are now the owner of your new home!