Buying a property online with Aroha
Team Aroha are conscious that purchasing a property whether it being your first home, investment or just a step up or down the ladder it is not only exciting, but can also be a little stressful too. Therefore here at Aroha we aim to ensure that we make the process as least stressful as possible and will help guide you through your property transaction process. We will work closely with your Solicitor and Mortgage Broker, if appropriate, to ensure that your purchase is as hassle free as possible.
We are always at the other end of the phone and always happy to do our best to help. We appreciate that you may have not purchased a property before or could just be finding the process difficult, so please do not be reluctant to call or email the office.
What you need to do next
Please ensure that your mortgage application is up to date and in order before you decide to view or make any offers a property. We do offer in house Mortgage advice and mortgages and will always ask that you have spoken to a Mortgage Adviser to financially qualify before hand. This will save time and disappointment if you are not quite ready to buy yet.
Choose a solicitor. This next step is very important. We can offer details of local solicitors and/or online conveyancers. Alternatively your Mortgage Adviser may be able to guide you in the right direction. This will allow you start the ball rolling and get the show on the road.
Please ensure you return all documentation that is sent to you from your solicitor as quickly as possible. Your solicitor will ask for proof of your identity and money on account. Please make sure that these are sent to your solicitor, or your transaction may be delayed.
You will need to decide whether or not you would like to have a survey carried out on the property. Your mortgage company will carry out a valuation/survey for mortgage purposes, however this does not give you any protection. If you need any more guidance in relation to having a survey please do not hesitate to contact us or your solicitor.
What will your Solicitor or Conveyancer do for you?
They will be required to undertake a number of searches on your property.
They will check the legal title to the property
They will check the content of your mortgage offer
Once all their enquiries are completed they will report to you and confirm that you are in position to proceed to exchange of contracts
A mortgage offer is a tangible document and your solicitor will not be in a position to exchange contracts prior to receipt of your Mortgage Offer. The offer will not be issued until the mortgage valuation has been carried out. Your solicitor will be in receipt of the paper copy of your mortgage offer when you are. The Mortgage Company issues copy offers to you and us at the same time, we would therefore suggest that you contact your solicitor when you receive your offer to ensure that they have also received
It will also be necessary for you to ensure that you have buildings insurance in place at the point of exchange. Your solicitor will ask you to provide a copy of the insurance to them prior to exchange.
Paying over your deposit
You will be required to make arrangements to send over your deposit funds to your solicitors account prior to exchange.This can be done in several ways including BACS, cheque or bankers draft.
Completion day- Time to collect your keys
On the specified completion day your solicitor shall transfer completion funds to your sellers' solicitors. At the time of completion you are able to collect the keys for the property & move into the property at your leisure
Your solicitor/ Mortgage Adviser will notify you if stamp duty is payable. With changes in stamp duty levels, it is worth keeping the stamp duty calculator to hand.
The HMRC have a stamp duty calculator HMRC Online Stamp Duty Calculator - https://www.stampdutycalculator.org.uk/
The government also have a useful online information pack on the stamp duty reform for residential properties
Stamp duty reforms on residential property