Buying your new home
Moving home or buying your first home is considered to be one of the most stressful things in life. At Vanderbilt Homes we are here to make this process much easier every step of the way.
Our step by step guide below will help you through the process of buying your new Vanderbilt home.
1. Work out how much you can afford
Visit an independent financial advisor (IFA) to discuss your personal situation and agree the budget in which you can afford your new home. If you don’t already have an IFA, please talk to the Vanderbilt Homes Sales Office who will be able to put you in contact with an IFA.
2. Choose your Vanderbilt home
Once you have decided on your new home we will work closely with you to choose any options that may be available to you, for example kitchen and bathroom fittings. The options will depend on how far along the build process the property is.
3. Complete your reservation agreement and pay your deposit
The reservation agreement reserves the property you want prior to exchange of contract. The reservation deposit you need to pay will vary depending on the size of your property but is typically between £1,000 and £5,000.
You will complete your reservation agreement with our sales consultant at the Sales & Marketing Suite. Upon reservation you will meet our customer care team who will be with you every step of the way. We will also give you a comprehensive manual created to answer any questions you may have.
4. Appoint your solicitor or legal advisor
Typically people appoint a solicitor when buying a new home but you do not have to. The person appointed must be a professional, qualified in English Conveyancing law. Should you need any help with this process please ask our customer care team for advice.
You will need to advise your solicitor of the exchange period, which will normally be 14 days. However this may vary depending on the stage of construction of your home. If you have an existing house to sell you should inform your solicitor of this as they will have to apply for title deeds which can take up to three weeks to obtain.
Once appointed, please provide our customer care team with the details of your solicitor or legal advisor.
5. Draft contract, conveyance plan and any other relevant documentation will be sent to your solicitor.
This will be specific to the property you are purchasing and will outline the legal requirements of the transaction.
6. Apply for your mortgage
Once you have applied for your mortgage, please send details of your application to our customer care team. You may also want to chase up any referees that are required for your mortgage application.
7. Confirm mortgage offer
Check your mortgage offer, sign it and return it to your lender. Confirm with your solicitor and our customer care team that your mortgage offer has been received and that you have accepted the offer.
8. Contact your solicitor to discuss the contract
At this stage contact your solicitor and agree how you will pay the deposit when you exchange (this is normally 10% of your purchase price). Once this is done you need to sign the contract ready to exchange, return it to your solicitor and agree how you will pay the remaining balance of the purchase price on completion.
9. Your solicitor exchanges contracts with our solicitor and pays us your deposit
At this point we are legally bound by the terms of the contract.
10. Arrange removals
You may decide that you will do this yourself with the help of friends and a self drive van or you may wish to get a quote from a specialist removals company. Doing the move yourself will cost less but don’t underestimate the time and effort required to move home.
If you choose to use a removals company, confirm what the quote includes, does it include packing boxes, doing the unpacking/packing, insurance etc? If you need any advice please contact our customer care team.
11. Prepare for a change of address
If you already own a home there will be a number of organisations and people that need to be told about your change of address including your doctor, utility companies, banks, insurance companies, the DVLA, TV Licensing, schools etc.
There are a number of useful websites that can help you through this process, including:
www.iammoving.com
www.helpiammoving.com
You will also need to contact the Royal Mail to forward your post. You can find out how to do this at:
www.royalmail.com
12. Final preparations for your move
It is the final countdown to your move. If you are using a removal firm speak to them to confirm arrangements and sort out any parking problems you may have prior to the day. Cancel any milk or newspapers you have delivered and arrange for a plumber or electrician to come round to disconnect any appliances for you.
If you have any pets its may be worthwhile arranging for a relative or friend to have them during the move or a boarding house to reduce the stress on them.
13. Day before moving
Clean your house and empty and disfrost fridges and freezers if you are leaving them behind. Remove any fixtures and fittings that are not included in the sale. Complete your packing, if you are doing it yourself, leaving out the essentials required for the following morning and the move, such as change of clothes, breakfast and kettle and overnight toiletries.
Speak to our customer care team to confirm what time you will have access to your new home. It is usually the afternoon on the day of completion to allow funds to clear.
14. On leaving your old home
Before leaving your new home, turn off any heating, water and electricity making note of your reading on all meters. Lock all doors and windows and arrange for keys to be left with the estate agent for the new owners.
15. Before moving into your new home
Before the final stage of your move, check that the deeds are exchanged and the balance of your purchase has been paid.
Finally meet with our customer services team to pick up the keys to your new Vanderbilt home.
16. Welcome to your new home