The Buying Process
Our step by step guide provides a handy overview to what you can expect when buying your new home.
Step One:
Establishing your affordability
Speak with a financial advisor in order to establish what you can afford to spend on your new home.
Step Two:
Reserve your new home and pay your reservation fee
The reservation process is carried out with the sale advisor in the sales centre at the relevant development. Your reservation fee will be held on file and deducted from the final purchase price at point of completion.
Cards we accept
Should you cancel your reservation, then Living will reimburse your fee minus any reasonable costs and expenses that have been incurred during the process in accordance with the Consumer Code.
Step Three:
Instruct a legal representative to act on your behalf throughout the buying process
The instruction of your legal representative should take place immediately after you have reserved your home, the details of which are to be submitted to the sales advisor on site. This legal representative will undertake all the legal formalities and look after your interests throughout the buying process.
Step Four:
Issue of draft contract, conveyance plan and any other required information to your legal representative
This is all the information specific to your plot.
Step Five:
The mortgage application
By now you will have been in contact with a financial advisor in order to discuss your affordability and suitable mortgage products, but you will now be required to formalise your application. This application will be specific to the property you are now purchasing. Please keep the sales advisor informed of the progression of this process.
Step Six:
Survey
When applying for your mortgage you will have paid your valuation fee. When the application has been processed an appointment will be made for the surveyor to come out and value the home that you are purchasing.
Step Seven:
Mortgage Offer
Once the survey has been carried out, your mortgage offer will be issued. You will need to check this offer, sign it and return to your lender. Please ensure that both your legal representative and the onsite sales advisor are aware of this.
Step Eight:
Signing of the Contract
You will discuss the terms of the contract with your legal representative and determine how your deposit monies will be paid upon exchange of contracts, as well as upon completion. You will sign the contract documents in preparation for exchange.
Step Nine:
Exchange of Contracts
Your legal representative will exchange contracts and transfer the deposit to our solicitors. At this point both parties are legally bound by the terms of the contract.
Step Ten:
Completion
Upon completion the remaining funds will be transferred to the developer and your keys to your new home can be released. You will now legally own your new Home, so all you have to do is move in!