Guide to Buying in the Ilkley area
Buying in Ilkley needn’t be difficult, just follow our step by step guide.
Step 1 – Know how much you can borrow
Before embarking on your search for a property to buy in Ilkley, it is advisable to arrange your finances i.e. to know how much cash deposit you have available and how much you will need to borrow. If you will need a mortgage it is generally a good idea to arrange a mortgage ‘in principle’. Harrison Robinson has pleasure in recommending The Mortgage Advice Bureau who are happy to give you no obligation advice.
Step 2 – Register with Harrison Robinson
You can either register online, by telephone or come to see us in our Ben Rhydding office. You should provide us with as much information as possible as to what you looking to buy and let us know if there is anything on our website which you think may be suitable. We will advise you on the different areas of Ilkley, the properties available at the moment, and anything which we are expecting to arrive on the market in the near future. You can receive email and/or SMS text alerts when new properties come onto the market.
Step 3 – Find the right property
We will advise you of the Ilkley apartments or houses which meet your criteria and when you have reviewed the photographs, descriptions and floorplans we will arrange viewings of properties which are of interest. We understand that buying an Ilkley property is a big decision and that you may want to view the property several times before making a commitment.
Step 4 – Making an offer
When you find a property which you feel is right for you, you can proceed to make an offer. Harrison Robinson will put all offers made to the property owner in writing and include any special conditions or requirements. At the time that an offer is made, we will discuss your situation i.e. whether you have a property to sell and how you plan to finance the purchase. This is the point at which a mortgage that is agreed in principle could strengthen your position.
Making an offer does not bind you legally – there is no legal obligation until contracts are exchanged.
Step 5 – Offer accepted and sale agreed
Your initial offer may be accepted or there may be negotiations as to the price and/or other terms of the sale. When everything is agreed you will need to provide us with details of your solicitor and we will both write to you and the vendor to confirm the terms and issue a ‘memorandum of sale’ to both solicitors. At this point you will need to formally instruct your solicitor and complete your mortgage application. Harrison Robinson are able to offer the services of Dezrez Conveyancing and give you an instant quotation for their services.
Step 6 – Conveyancing
Having received a draft contract from the vendor’s solicitor, your solicitor will raise enquiries and apply for local searches. Your solicitor will advise you as to any legal issues and agree dates for exchange of contracts and completion. We will keep in touch with solicitors during this process, assist with the provision of any missing information, and do our utmost to progress the sale as efficiently as possible.
Step 7 – Mortgage Valuation Survey and Structural Survey
In parallel with Step 6 your mortgage company will arrange for a valuation of the property and you may require a structural survey to satisfy yourself that there are no obvious structural problems affecting he property. The mortgage company will issue an offer when the valuation is complete.
Obviously you cannot proceed to exchange contracts until you have a mortgage offer and have accepted it (assuming that mortgage finance is required of course).
Step 8 – Exchange of contracts
When all issues have been resolved, your solicitor will ask you to sign the contract and will exchange contracts with the vendor’s solicitor. At this point a portion of the purchase price will be paid over (normally 10%).
A date for completion will normally be fixed at the time of exchange of contracts.
Step 9 – Completion
This is the final step in the buying process and this is when the balance of the purchase price is paid. Once completion has taken place, we will arrange for you to pick up the keys and you can take possession of your new property!