Should you require any information regarding the sale process when purchasing a property please contact one of our property consultants who will be happy to help answer any questions you may have.
Download our helpful Buyer’s Step by Step Guide for more information.
Do I need to have my finances in place before viewing? Arranging your mortgage:
Before you begin your property search, it is best to arrange your finances and, if needed, have a mortgage agreed in principle. This will define your budget for the purchase and the type of property you can buy and the areas in which you can look. Begin your property search here.
Our recommended mortgage broker, NAEA Mortgages, has access to the entire market.
How much will it cost to buy my property with Alphabet City?
Alphabet City does not charge a commission fee to you to buy a property with us.
What other costs should I plan for when I sell my property?
Your legal fees will vary greatly depending on the solicitor you have selected to carry out the conveyancing work. Your solicitor will advise you personally of their fee structure. We are happy to recommend the following companies with whom we have worked for a number of years:
Should you require the services of a home moving company, you should factor the cost in during the sale process. To find a professional home moving company refer to The British Association of Removers for help and advice.
Who pays the Stamp Duty?
The Buyer is responsible for paying the Stamp Duty. Click here for further information.
From 1st April 2016 higher rates of Stamp Duty Land Tax apply to purchases of additional residential properties, such as second homes and buy-to-let properties. Click here for further information.
Do I have to pay Capital Gains Tax?
If you are selling a property that is your main home, it is likely that you will not have to pay Capital Gains Tax if you meet the specific conditions. If you are selling a property that is not your main home, it is likely that you will have to pay Capital Gains Tax. We recommend that you seek professional financial advice prior to selling your property so you can confirm if this is something that will affect you. Click here for further information.
How can I view property?
We arrange viewings at times convenient to you. All appointments will be accompanied by one of our professional property consultants who are happy to chauffeur you to the viewings and answer any of your questions. We recommend you view early to avoid disappointment. To begin your property journey click here.
What happens when I find my perfect property?
You will need to give us the details of your offer including any special conditions and supporting information, e.g. your mortgage offer in principle, the deposit you have and your I.D. information. We will then put this forward to the Seller verbally and in writing.
What happens next?
Once accepted, we will:
- Ask you for details of your Solicitor and Mortgage Broker
- Prepare a Sales Memorandum
- Write to all parties to confirm Agreed Sale Price and any Conditions
- Assist your solicitor and negotiate throughout the process, keeping you informed every step of the way
You will need to:
- Instruct and put in funds your Solicitor
- Complete your Mortgage Application. Choose which type of Survey and instruct
- On exchange, pay the deposit (usually 10% of the purchase price) to your solicitor once the contract has been signed by both parties.
Your solicitor will need to:
- Raise any enquiries on receipt of the draft contract from the Seller's solicitor
- Request their own local searches
- Agree on a date for exchange of contracts
- Pay your Deposit to the Sellers solicitor on Exchange
- Complete the Sale and transfer the residual monies (usually 90%) to the Seller's solicitor's account
Your Mortgage Broker/Bank will need to:
- To book a survey on behalf of the mortgage lender to advise on the property's condition and value
- Forward the mortgage valuation report. A formal mortgage offer will be sent to you and your solicitor which you will need to sign and return
When do I move into my property?
On the day of the mutually agreed completion, we will release the keys once the money has cleared in the Seller's account.
WELL DONE, you now own your new home.
As a Buyer you will be bound by the terms and conditions of your mortgage and the terms and conditions of any head lease, property lease or freehold deeds and insurance policies relating to you and the property you are purchasing.
You will need to obtain these documents and relevant information from your bank/ Mortgage Company, financial advisor, solicitor and insurance company. Alphabet City does not provide these documents or advice pertaining to such information.
Alphabet City does not charge Buyers a fee for our service.