The Buying Process
To reserve one of our new homes you will need to be in a position to proceed straight away, preferably with funds in place (either a provisional mortgage agreement or investment funds) and, if you have a property to sell we ask that you are in a completed chain. We’ll be on hand working closely with you and our legal representative to help make the experience as stress free and seamless as possible!
Whether you are buying one of our completely finished new homes or one that’s still being built the buying process is as follows:
1. Appoint a solicitor
You need to do this as soon as you’ve decided to purchase your Glenmoor home. Your solicitor will work on your behalf so it is important you choose someone you’re happy with. You are free to choose whomever you like but a personal recommendation from someone you trust is always a good sign.
2. The Reservation
We’ll ask you to pay a reservation fee. This serves as a deposit and will be deducted from the balance owed at legal completion. This fee demonstrates your commitment to the purchase and once paid we will immediately cease marketing the property – as far as we’re concerned you will be the new homeowner! The terms on the reservation form clarify the details.
3. Exchange of contracts
The first important stage of the transaction is Exchange of Contracts which should take place no later than 28 days following your solicitor’s receipt of our draft Sales contract. Usually, at exchange of contracts a deposit (10% unless agreed otherwise) is paid to us via your solicitors and a Legal Completion date is confirmed. If your new home is not fully constructed when you’re due to exchange we’ll discuss and agree timescales with you.
We want you to be completely happy with your new home when you move in. Before completion, your home will have already been thoroughly inspected by us for any final snagging issues. We are extremely particular about our finishes so we would hope to have picked up on anything outstanding. However, you will be given the opportunity to carry out an accompanied inspection before legal completion just in case we have missed anything!
5. Legal completion (Handover)
At Legal Completion (handover) the funds required to complete the purchase are transferred to us, via your solicitors. Once received, a representative from Glenmoor Developments will complete the handover process by meeting you at your new home to hand over your keys.