A handy 8 step guide to buying a property...
Step 1 - Arrange your finance
Before you begin your property search, it is advisable to arrange an appointment with your bank or with a mortgage broker to arrange your finances and, if possible have a mortgage agreed in principle. This will confirm how much money you will have to fund the purchase, which will ultimately influence your property search. We have recommended mortgage brokers/lenders listed here.
Step 2 - Register your interest
The first step to finding the right property is to register with us either by calling us on 639955, by visiting us at our offices in Hill Street where you can discuss your property requirements with one of our experienced property negotiators or by registering online here.
Step 3 - Find the right property
Once you have registered with us and we have a clear understanding of your requirements you will receive a selection of properties that match your criteria. We can also keep you constantly up-to-date via email when the latest properties become available. Once you have shortlisted the properties that you would like to view, call us or email us and we will endeavour to arrange a viewing at a time that suits you. If you have difficulty in getting yourself to any viewings, please let us know and we will, when we can, come and collect you!
Step 4 - Making an offer
Once you have identified a suitable property we will put your offer forward to the seller both verbally and in writing stating any special conditions of the offer. You may need to demonstrate, if requested, that you are able to proceed (e.g. provide evidence of your mortgage agreed in principle). There are no legal obligations for yourself or the seller until contracts are signed (please note: whilst making an offer on share transfer properties, this can become a legal binding contract).
Step 5 - Offer accepted
Once your offer is accepted we will commence with the following:
- Write to both vendor and purchaser to confirm the agreed price and proposed completion date
- Ask you to confirm your lawyers and mortgage providers details (see Step 6)
- Ask to see your registration card, your identification and a current up to date utility bill confirming your current address
- Write to both vendor and purchasers lawyers advising them of the agreed sale giving them all the information they need to commence with the sale/purchase
Step 6 - Instruct a lawyer/conveyancer
The successful purchase of a property can be reliant on the instruction of an efficient and experienced lawyer. It is a good idea to use an experienced lawyer and one who specialises in conveyancing. You can shop around to obtain a quote from lawyers on their fees for the purchase of your home, however from experience we recommend that the cheapest quote is not always the best quote, it is advisable to choose a firm with a sound and proven reputation. We have a selection of lawyers that are experts in Jersey property who we are happy to recommend, you can find them here.
Step 7 - Survey
Once you have advised your mortgage lenders that your offer has been accepted a survey of the property will be booked by a surveyor on behalf of the mortgage lender to identify any structural problems and advise on the property's value. There are different levels of survey reports, your lenders will discuss these options with you as they can vary in cost.
Step 8 - Completion
Completion for Freehold and flying freehold property in Jersey is taken place in the Royal Court on a Friday afternoon, Share transfer properties can complete any working day as contracts are signed in lawyers offices. We will release the keys of your new property to your Lawyers once completion has taken place.
Congratulations, you are now the legal owner of your new home!