YOUR BUYING JOURNEY
Reserving your new home
- Before you commit to buying a new retirement property, you may need to take independent financial advice to make sure you are able to adequately fund your purchase, and that you will have sufficient resources for the future if your income changes. You will also need to check you can meet the timescale for exchange, which will be set at 28 days after you reserve if you have a buyer for your existing property. It is always advisable to ensure that everyone in the chain is able to work to the same timescales to avoid any problems later on.
- You will need to be able to confirm this information to our sales advisors who will check that you are in a good position to proceed.
- You should look at which solicitor you will want to act for you before you reserve a home. This speeds up the whole process and helps you achieve your exchange deadline. You will need to give this information to the sales advisor when you reserve your plot.
- If you don’t have a buyer for your current property, don’t worry. Speak to one of our sales advisors who will be able to offer you advice on how to reserve your dream home whilst you try to find a buyer in an agreed period of time, or take a look at our Fair Exchange Promise.
- When you reserve your chosen plot, a deposit of £2,000 is payable. Should you be unable to proceed with your purchase for any reason 50% will be retained to cover any expenses incurred.
What happens next?
Step 1 – The first 7 days
- You should instruct your solicitor formally and advise them of timescales. You will also need to pay for the Search Fees at this time to ensure there is no delay in waiting for the results to be returned
- If applicable speak to your agents to ensure that progress is being made on your sale, and any chain
- Check that your solicitor has looked through the contract documentation and is raising any enquiries they feel are necessary
- Ensure any survey needed has taken place on your home
- Check progress of searches with your solicitor
- Continue to liaise with your agents and our sales advisor on progress of your sale and purchase
- Make an appointment with your solicitor to go through all the paperwork and sign your contract
- Give your solicitor your exchange deposit, which is normally 10% of the price of your home
- Agree a completion date with us and your chain
- At the point of exchange, we can agree a completion date. This will be a fixed date if your home is already built but, if still under construction, then we will need to agree a completion date ‘on notice’. This means we will give you an indication of when it is likely to be ready. Then when it is finished we will advise your solicitor and give you 10 days to complete your purchase from us.
- If you have a related sale, your solicitor will agree the same arrangements with your buyers, which is normal when buying a brand new home.
Between exchange and completion
- As well as arranging removals, it is advisable to organise your telephone service and postal redirection.
- Our sales advisor will invite you to a home demonstration with our After Sales team. This is intended to be an introduction to the property before you move in. It will also give you the opportunity to ask any questions you may still have.
- We will arrange for your home to be cleaned professionally and it will be ready for you to move into.
The day of completion
- Our solicitors will confirm that the balance of the monies for the purchase have been received and then completion takes place.
- Our sales advisor will arrange a time for you to collect your keys and will carry out a final check of the property and take meter readings. You will be provided with a handover pack containing any manuals, guarantees, certificates and other important information about your home.