To register with Prospect, you can visit us at your local branch, request a call back from our expert agents or complete our online registration form. Let us know what you’re looking for and we’ll start searching for properties that meet your criteria.
The length of time it takes to take buy a property varies and no two transactions are the same. On average, we find that it is usually around 8 weeks before contracts are exchanged, but this can vary depending on whether the property is involved in a chain.
If you know that you will need to take out a mortgage in order to buy your property, then it makes sense to seek financial advice at an early stage.
Once you have provisionally arranged for the required mortgage funds to be made available to you, it is a good idea to obtain a mortgage certificate from the lender. This can then be used to prove to a seller or estate agent that you have the necessary funds available to finance your purchase.
If you have a solicitor who you know can work quickly and efficiently where conveyancing of properties is concerned, you can continue to use that firm. However, if you have any doubts we can confidently recommend one of our excellent solicitors.
If you are arranging a mortgage, 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, it might be best to get a Full Structural Survey, because if problems are found with a property after the exchange of contracts, the seller is not liable and as the buyer, you will have to pay for any necessary repairs. We recommend instructing Prospect Surveyors to undertake this for you. If you are buying a new build property from a developer, then there is greater statutory protection.
Prior to exchange of contracts, either party is able to withdraw from the transactions. However, once contracts have been exchanged, remedies for ‘breach of contract’ would be available for the suffering party. At this point, the seller would be able to keep your deposit.
If your offer is accepted, your personal Client Manager will contact you to congratulate you! We will speak with you about dates for completion and discuss exchanging contracts on your behalf before you agree the timescales and next steps for exchanging and completion with your Solicitor.
A house sale or purchase becomes legally binding at exchange of contracts. The solicitor for both parties will hold signed contracts – if either party fails to honour the obligations, this will constitute breach of contract.
Exchange of Contracts is the process whereby all the parties in the chain commit themselves. Their Solicitors will telephone other Solicitors in the chain and promise to put their own client's contract in the post that day. The parties themselves do not need to be present.
The date set for you to move into the property, known as ‘completion’, will be agreed with your seller during the sales process. This date is usually confirmed by the Solicitors. We recommend at least one week between exchange and completion to give all parties time to pack etc.
On occasions, buyers will find out that there are problems with a property before they have exchanged contracts. If this happens, you will likely have 3 options:
'Prospect' has recently helped me with selling my flat although my property was not the easiest to sell. 'Prospect' is represented by a team of enthusiastic, hardworking, professional, hardworking people who don't easily give up. I definitely recommend 'Prospect'.
I moved to Prospect from another Agency last year after a complete refurbishment of my flat ready to let and I am so glad I made the move! I am particularly impressed with Agnese and the way she is managing my property, very efficient, always cheerful and very helpful.
Prospect Estate Agency is committed to conduct our operations in a fully compliant manner. We fully support and adhere to all regulations covering the industry including The Estate Agency Act 1979, Competition Act 1998, The Consumers, Estate Agents and Redress Act 2007, Consumer Protection Regulations 2008, Sanctions and Anti-Money Laundering Act 2018, GDPR Act 2018, UK Competition Law, The Property Ombudsman Code of Practice and ARLA & Propertymark Protection.
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