It is widely recognised that buying a home can be very stressful, and bearing this in mind, Thomas Homes will make every effort to guide you through the purchasing procedure.
If you have any queries regarding the purchasing procedure, our experienced Sales Advisors will be on hand at our sales centres to help, or you can contact our sales department on 01635 247 950 for help and advice.
In order to complete your reservation our Sales Advisors will need:
- Details of your appointed solicitor.
- Details of your appointed selling agent and details of the sale relating to your property.
- Information regarding your proposed financial arrangements. If you have not made arrangements yet, our Sales Advisors may be able to provide the details of financial advisors who can help before your reservation is processed, to avoid problems later on.
- A non-refundable reservation deposit. The amount of the deposit may vary and will be confirmed by our Sales Advisors.
- You will also be required to sign a copy of our Reservation Confirmation.
Upon reservation, our Sales Advisors will issue a copy of the completed reservation form giving complete details relating to your purchase, and they will instruct our solicitors to issue contracts. A contract will usually be issued to your solicitors within 48 hours of reservation.
What you need to do next from Reservation to Exchange Contracts
A contractual exchange will usually be required within 28 days of issue of contracts with a 10% deposit. If contracts are not exchanged within the agreed timeframe, the reservation will lapse and the property will be put back on the market.
We strongly recommend that upon reservation, you contact your solicitors to talk through the conveyancing procedures they will complete on your behalf. You should inform them of the contract exchange deadline date and remain in regular contact so that they can keep you fully informed of the timescale and progress of the transaction, in order that you meet the deadline. The conveyancing procedures your solicitors will undertake include:
- Receiving the information pack from our solicitors.
- Initiating the Local Authority Search and any additional specialist searches. In order to avoid unnecessary delay, your solicitor will usually require funds immediately to initiate and pay for the searches.
- Approving the contract when all enquiries are complete.
- Receiving your mortgage offer and instructions from the lender, and deal with any conditions such as ensuring life cover and buildings insurance are arranged.
- Requesting the deposit from the purchaser, report to the purchaser and arrange for the contract to be signed.
- Agreeing completion procedure and exchange of contracts.
Our Sales Advisors will liaise with you regarding the Demonstration and Inspection Meeting at your new home, usually held 1-2 weeks before completion of contracts.
Upon completion of contracts your solicitors will forward to our solicitors the balance of funds, and the release of keys to you will be authorised.
On handover of the keys, our Sales Advisors will provide you with a handover pack that contains appliance instructions and useful information regarding your new home.