Property Buying Guide
Online, by phone or - even better - pop into our office in Bath Street so that we can put a face to the name. We can discuss your specific requirements and show you properties that match your criteria.
Probably the most important consideration for anyone wishing to buy a new home, and best addressed before you start viewing properties. Select your mortgage provider and make sure you have a clear and accurate idea of how far your budget will stretch. It could save you time and frustration later. See our Professional Links for mortgage advisors.
We always say "No viewing is a wasted viewing". Each time we view a property with you we get a better idea of what you really want, and you get a better idea of what represents value for your money. By keeping in close contact, we can share information about properties we have recently valued, but that aren’t yet on the books, that may suit you.
Your perfect home
This may be elusive, but don’t loose heart! The busiest periods in the local property market are from September to November, closely followed by February to mid-July. An offer on a property in the quiet months could save you some money. We would always recommend you contact a property lawyer to act on your behalf in any sale transaction. The sooner this contact is made, the better for you. See our Professional Links for property lawyers.
Any offer will be accepted verbally by one of our negotiators who will then pass it on to, and discuss it with, the property vendor. All offers are also submitted by us to the vendors in writing, and our negotiators will keep you in constant contact regarding the status of your offer.
Our negotiators will then come back to you to either accept your offer, or will negotiate with you over the price until a conclusion is reached.
Instruct a lawyer
As soon as your offer has been accepted and any conditions attached to the transaction explained, your lawyer will take over and make all of the necessary title checks and arrangements to take the sale before the Royal Court. If you have made contact with a lawyer earlier on in the process things will progress at a much faster pace. We will also instruct both sets of lawyers in writing and issue them with copies of agreed 'Heads of Terms'. See our Professional Links for property lawyers.
Instruct a surveyor
This list is usually provided by your mortgage lender to carry out a survey on the property. We can always recommend a few surveyors to help you. It is likely that your lender will instruct a surveyor to carry out a survey on the property.
We can arrange additional viewings so that you can get a feel for your new home and measure up for any re-modelling - or simply check your car fits in the garage!
Customer due diligence
We will need your Registration Card (issued by the Social Security Department) in order to liaise with the Population Office regarding residency issues. In order to complete our customer 'Due Diligence' (KYC), we will require proof of where the purchase funds are coming from, or your lenders details, and copies of two recent utility bills.
Arranging the sale
We will liaise on your behalf to agree the best date for completion of the sale to suit both parties, and act as the link between your lawyers and those of the vendors to ensure everyone is kept in the loop. If you have anything you are not sure of, give us a call. We are only to happy to help.
The sale will be concluded when the contract is passed before the Royal Court on a Friday afternoon. Both the purchaser and vendor must attend; if you can’t attend, you can arrange a Power of Attorney for your lawyer to represent you. The dress code is strictly formal in Court: trousers, jacket, collar and tie for men, and no leggings, jeans or tracksuits for ladies.
The Bailiff, his deputy or whoever is leading the Court proceedings will call out your name and that of the property and vendor and ask you to stand and raise your right hand. Before you know it, you own your new home! If you are buying by share transfer there is no need to go to Court, as you are buying shares in the company that owns the property. These transactions take place in your lawyer’s office.
Keys should already be with the lawyers and will be handed over to you in Court.