- the correct order of things
Follow these recommended steps to help the smooth progress of your proposed move.
1. VALUATION
Have your existing home valued by the estate agent. This will establish a realistic figure your home could achieve in the prevailing market. The agent can discuss an appropriate asking price to suit the circumstances of the sale, recommend a marketing programme and can give a rough guide to the cost of the move including commission terms.
2. MORTGAGE ADVICE
Speak to a financial advisor. This will establish how much you can afford for your next home based on your income, current out-goings, financial status, the value of your existing home and the value and status of your current mortgage.
3. REGISTRATION
Register your requirements for your next home with the estate agent. The agent will need to know a price range, what area you would consider and the style of property you need.
4. PLACE YOUR HOME FOR SALE & ARRANGE EPC
The agent will confirm in writing the asking price, a reasonable time-scale for marketing and confirmation of fees if successful. Energy Performance Certificate (EPC) needs to be commissioned before marketing can commence.5. APPOINT A SOLICITOR
You will need a solicitor to act on your behalf. Allow the solicitor to apply for the title deeds of your home from your existing mortgage lender to avoid unnecessary delays later. Complete and return a fixtures and fittings questionnaire confirming what you intend to leave behind when you move.
6. AGREE A SALE
Your prospective buyer will be advised the sale has been agreed in principle, subject to you finding an alternative home to purchase (and also subject to contract and satisfactory survey).
7. HOUSE HUNTING
Your agent will offer every assistance in helping you to find the right home for your requirements. Other estate agents will also be keen to find you a home as your buying status will be a 'known quantity' and you would be able to proceed with the legal formalities without delay.
8. AGREE THE PURCHASE
Once you have found a suitable home to buy, allow the negotiations to be conducted through the agent who can verify the extent and status of any onward 'chain'.
9. INSTRUCT THE SOLICITOR
Legal proceedings can now commence on your behalf. Your solicitor will provide a written breakdown of the anticipated costs for their fees, plus stamp-duty, land registry, bank charges and other disbursements.
10. MORTGAGE APPLICATION
Submit your application for a home loan to the mortgage lender or financial advisor without delay and pay the survey fee for the property you are buying to be inspected by a surveyor. The mortgage lender will undertake credit checks, take up references and instruct the surveyor to inspect the property.
11. PRELIMINARY ENQUIRIES
The solicitors will raise enquiries on both your proposed sale and purchase relating to boundaries, utility services, any history of structural defects or subsidence, any building work, extensions, loft conversions, any neighbourhood disputes etc.
12. CO-ORDINATION
Your agent will liase between other parties to your transaction and associated 'chain' including other estate agents, solicitors, surveyors and financial advisors. Any concerns or problems can be quickly dealt with.
13. MORTGAGE OFFER
Receive a written offer of mortgage from the home loan provider when they are happy with your buying status and the condition and value of the property you are buying.
14. SIGN THE CONTRACT
The solicitor will contact you to sign the approved contract when all enquiries are satisfied, and the local authority search and copy of your mortgage offer have been received. Your solicitor will discuss with you a provisional date for moving.
15. EXCHANGE CONTRACTS
When all other parties to your 'chain' are ready with contracts signed and any deposits paid through the solicitors, contracts are exchanged making the transaction legal and binding. A completion date for moving is agreed by all parties, usually two weeks thereafter.
16. AFTER EXCHANGE OF CONTRACTS
In the usual two week period between exchange of contracts and completion, you will need to: a) Notify utilities and services such as water, gas and electricity suppliers of your moving date and arrange for meters to be read on that day. b) Notify your removal company and your employer of the moving date. c) Notify your bank to stop your existing mortgage payments. d) Send out change of address cards and arrange Royal Mail redirection of your post.
Your solicitor will request an invoice for the estate agency fee, attend to the redemption of your existing mortgage, call for the funds for your new mortgage and get you to sign and return the transfer documentation.
17. COMPLETION
On your moving day, legal completion usually occurs around mid-day so make sure you have vacated your home by then and your selling agents have a spare front door key to hand to your buyer. You can collect the key for your new home from the estate agents once the solicitors have notified them that the purchase funds have been received.



