Buying

BM Properties recognises the fact the purchase of your home is the most important and expensive transaction you are likely to undergo.

Our database features a vast array of properties and we are sure that with our local knowledge and expertise, we will be able to find you a property to suit your needs, be it a straightforward move or a ‘Buy to Let’ investment or even a development opportunity.

Please click here to view a list of our current properties.

To unravel the buying process please see below a step by step guide:

REGISTRATION: The first requirement is for you to register your details and property specifications by email, phone, in person or by completing our registration form [REGISTRATION FORM LINK]. This will give us an insight into your personal requirements, thereby enabling us to send your accurate properties.

Once registered, you will then start to receive details from us by email.

VIEWING: Our friendly team are available to arrange those all important viewings of your selected properties. Our offices are open 7 days a week. Please contact us to arrange a mutually convenient time on 07888 310 640 or email us at info@bm-properties.com

MORTGAGE: In order to speed up your house buying process, it is advisable wherever possible; to get a mortgage agreed in principle (AIP) before any final decision on your new property is made. This has the advantage of providing you with a clear indication of what is affordable and the fact that you have a mortgage agreed in principle is also attractive to sellers. Please contact: mortgages@starckuberoi.co.uk

MAKING YOUR OFFER: Once you have located your ideal property, your offer 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: As soon as your offer has been 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 can happily recommend Starck Uberoi Solicitors. (www.statrckuberoi.co.uk)

At this point, you also need to formally proceed with your mortgage application and instruct a/your mortgage consultant/broker accordingly. Again, we can happily recommend Starck Uberoi Mortgages. (mortgages@starckuberoi.co.uk)

SURVEY: The next step is to obtain the Mortgage Valuation, as required by law. This will be conducted by a Chartered Surveyor acting for your Lender. The report is to provide a Valuation. Since you as the buyer are also provided with a copy, it allows both parties to evaluate the findings prior to entering into a commitment to purchase.

There are two types of survey available:

1. HOMEBUYER SURVEY/VALUATION

2. BUILDING SURVEY

SEARCHES: These are conducted by the buyer’s solicitor who submits a local authority search to the local borough council. Its purpose is to ascertain if there is any planning consented 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.

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 the buyer and their solicitor. The document is then signed and returned and funds requested by the buyer’s solicitor.

EXCHANGE OF CONTRACTS: Once the contract has been signed by both parties, a deposit (normally 10%) is paid by either bank transfer or banker’s draft. At this stage, the parties agree on a date for completion.

COMPLETION: Completion usually follows a few days or weeks after exchange of contracts. The balance of the purchase price is transferred by the buyer’s solicitor to the seller’s solicitor and the keys released – Congratulations! You are now the owner of your new home!