House Buying Process
When you are sure you wish to proceed, you will be asked to complete a standard Reservation Form which will include details of the plot number, house type, purchase price and the reservation fee (£500). We will also provide you with an anticipated completion date. You will also be given an agreed reservation expiry date on the agreement and your Sales Adviser will discuss with you the legal implications of this date. The reservation period will usually be 4 – 6 weeks, during which time we will take your chosen property off the market and freeze the purchase price. The reservation fee acts as part of your deposit and will be deducted as a part payment from the agreed selling price if you proceed with the purchase. You will be given a copy of your completed reservation form for your records.
Our solicitors will issue the required legal paperwork to your solicitors. During the Reservation Period you may organise the valuations/paperwork as required. Once missives are concluded/contracts are exchanged you are legally bound to purchase the property.
Payment of the deposit (£2,000) will be due on the conclusion of missives/exchange of contracts.
The reservation fee and the deposit will be deducted from the cost of your new home.
In the event that missives are not concluded/contracts not exchanged within the Reservation Period, Hudson Ladykirk reserve the right to re-market the property to a third party and, in that eventuality, will refund the reservation fee.
The balance of the purchase price will be payable on the Date of Entry which will usually be 10 working days after, but may be earlier, the later date of:
- The date on which the house has been certified by the Local Authority as ready for occupation and;
- The date on which the NHBC Cover Note is exhibited to the purchasing agents.
Make the necessary preparations for your move
As the moving in day approaches you will need to start planning in advance to make sure everything goes smoothly. If you require any advice we are happy to help. Below are a few of the more important things you need to remember to do and clarification of all undertakings by Hudson Ladykirk.
Electricity, gas, TV and telephone
Contact your utility companies and let them know that you are moving. They will arrange to have the meter read on, or about, the day you intend to move out. You don’t need to worry about the supplies to your new Hudson Ladykirk home as we will have everything in hand. We will send the final meter readings to British Gas and inform them of your new residency. You are free to change supplier at any time after your first bill.
You will need to contact TV Licencing and notify them that your home is now occupied and make future payment arrangements.
A BT phone line is installed in your new home but you will need to contact BT to initiate the account and transfer your existing phone number, if applicable.
Hudson Ladykirk will insure your new home up to the handover day; after this date you must arrange insurance both Buildings and Contents cover for the property. Please ensure that your insurances are arranged in good time and come into effect on the handover date.
Organise quotations from professional removal companies. Make sure you get them to include for providing packing cases, or even to price for the packing if you require this service. Many of these companies can help with temporary storage of your belongings if the timing of your move is not co-ordinated on the same day.
Make sure that either you or your removal company have suitable protective materials, to ensure that your new home does not get damaged during the move. In particular, remember to protect your carpets and staircase.
Let your doctor and dentist know your change of address and the date of your move. If you are moving into a new area you may need to start looking for new practitioners. Our Handover Pack provides details of local GPs, dentists and emergency departments.
Again, if you are moving to a new area you may need to start looking for suitable schools for your children. You will also need to let their existing school know of your plans. Please see the Handover Pack for information about schools close to your new home.
You should contact your local council and inform them of your move and arrange for any Council Tax refund, if applicable.
Hudson Ladykirk will arrange for refuse and recycling bins to be delivered by Scottish Borders Council.
We will also inform Scottish Borders Council of your new occupancy and they will make arrangements directly with you regarding a Council tax assessment.
Make arrangements for your post to be re-directed.
Let them know your new contact details.
Approximately one to two weeks before legal completion on your new home, you will be asked to attend a meeting with the Site Manager for your home demonstration and viewing. This meeting will take approximately one hour and our Site Manager will take you through a full and comprehensive induction process. This will highlight important features about your home and how to ensure it runs smoothly. The items covered will include:
- Electricity meter
- Gas meter
- Positions of stopcocks, feeds and outlets
- Electric fuse box
- Smoke alarms
- CO2 monitors
- Running your central heating system and boiler
- Switch plates
- Sanitary ware
- Shower valves and heads
- Bath and shower seals
- Kitchen units, worktops & appliances
The demonstration is also the first opportunity for you to comment on the quality standards of your new home. Whilst we pride ourselves with the high quality standards achieved on our homes, it is possible that there may be some minor snagging items that will be observed during the demonstration. The site manager will complete a check list and make note of any items that need correcting or adjusting and you will be provided with a copy. The snagging items identified will be rectified, where possible, prior to legal completion. If an item cannot be corrected before completion, we will inform you of this immediately and advise you when we expect the work will be carried out.
Unfortunately we are unable to allow access the removal companies before the balance of funds had been received by Hudson Ladykirk, or their representatives.
Once receipt of funds is confirmed, you will then meet with the Site Manager who will provide you with your keys and a Handover Pack containing all the instructions/warranties for your new home.