To make an offer, you need to contact the sales agent you have been liaising with in Brighton. They will then take the offer to the seller and explain your personal circumstances, such as your ability to proceed and whether you are in a chain-free process.
Then the seller will either accept or reject the offer, or negotiations will begin. Don’t worry if your first offer gets rejected, as another higher offer can be made after.
The best idea is that if you know you will be requiring a mortgage when buying a property in Brighton, start looking into it early so you have plenty of time to seek the best financial advice.
By doing this, you can then get a mortgage certificate from the lender who you have provisionally arranged to provide the required mortgage funds. This can be advantageous as you can demonstrate to the seller in Brighton that you are a trusted buyer with the necessary funds available.
If you are arranging a mortgage in Brighton, then your lender will appoint a Valuer to inspect the property. However, this will often not consider the condition of the property in detail, so you should not rely on this report alone.
Depending on the age and condition of the property in Brighton, it might be best to get a full survey completed. Check out our dedicated page to learn more. The benefits of getting this done is that it spots potential problems before the exchange of contracts. Once this has happened, the seller is then not liable, and instead, you as the buyer would have to pay for the repairs.
Consider what the solicitors’ fees may be as these can vary quite widely. Also, think about the mortgage costs as an arrangement fee will be included based on the amount you borrow. And finally, don’t forget Stamp Duty, which is tax paid on all property sales over £425,000 for First Time Buyers.
The typical, straightforward transaction tends to vary between 8-16 weeks of the purchase being agreed. However, there are many factors that can affect this timeline; For example, you are likely to have a quick completion if the seller has already left the property and your mortgage is secured. But if the seller happens to still be in the property, you are to expect a longer completion date.
Because of this variation, we always suggest never committing to the delivery of goods or taking time off work until a definitive completion date is confirmed by the solicitor.
Depending on what stage you are at, it is possible to pull out of the purchase in Brighton. If you have not currently exchanged the contracts, then either party is able to withdraw from the process. But once these contracts have been signed, nobody is able to pull out. If this was to happen, it would be a breach of the contract and would allow the seller to keep your deposit.
If your surveyor discovers a problem with the property, you are in the process of buying,m you have a few options before you finalize exchanging contracts. If the issue is substantial enough, it may cause you to pull out of the purchase; however, if it’s something that can be fixed, here are your options. Firstly, you can request that the seller corrects the problem at their own expense, or alternatively, you could request a price reduction that will cover the cost of resolving the problem.
Once both parties have signed the contracts your solicitor and the seller’s solicitor will consult both parties and agree on a completion date.
It’s slightly different if you require a mortgage in Brighton, as after the contracts are signed, the mortgage will be requested from the lender by your solicitor. The mortgage lender will then let your solicitor know when the funds will be released, and your solicitor and the seller’s solicitor will consult both parties and agree on a completion date.
When selling a property the seller is able to remove most items, including carpets and light fittings. To make sure it is clear what you are buying, a list of fixtures and fittings will be provided by the seller. On this, it’ll explain which items are going to be removed or kept in line with the house price they’ve set. Make sure to give this a thorough read prior to signing the contract.
It is recommended that you should organize home and contents insurance just before you sign the contract, with a starting date that begins from the exchange of contracts.
Another insurance to look into is mortgage protection have a look at this once you have completed your mortgage application. This insurance protects your family so they are not left to meet your mortgage payments in the case of illness or death.
Your solicitor will perform searches of Land Registry and Local Authority information. They will be checking for planning history and any potential developments around roads, drainage, and mining near the property.
