The Buying Process
Buying a house is the biggest purchase you'll ever make and it is difficult to to know what to expect. Being prepared for the house buying process will give you the best shot at a smooth, stress-free experience. In this helpful guide, we will highlight the timeline of buying a new home and a general idea of what to expect at each stage so that you can purchase a property with confidence.
Know your budget
Before you begin a property search, it is very important to consider what you're willing (and able) to spend on a property. Calculating and knowing your budget will help you to refine your property search. You can easily get a rough estimate of how much you can borrow by using our online Mortgage Calculator. See our Mortgage Calculator here.
We suggest that you also speak to an independent Financial Advisor.
Find your dream Rose Home
This is the start of making your dream become a reality. It is time to find your dream home.
Use our interactive online map to search for your dream Rose Home, research the area and then arrange with our sales department to visit the development to select your desired plot. Our sales team are always available for further guidance and advice.
Reserve your Rose Home
As soon as you have found your dream Rose Home, make an appointment with our sales team to begin the Reservation process. You will need to be in a position where you can buy – for example – living in rented, sale agreed on existing property, living with family / friends, cash buyer etc. After this has been confirmed you will then need to pay a Reservation Fee of £1,000. In order to complete the initial Reservation process you will need to appoint a solicitor. Rose Homes can recommend a solicitor if requested. From this point no one else can reserve your new home.
Mortgage & Paperwork
After you have reserved, it is time to make things official and apply for your mortgage. You will need to speak to your Financial Advisors to begin the process of arranging the finances of your property purchase.
Your mortgage advisors will work alongside you, take into account your financial situation and then search the whole of the financial market for the best financial deal that suits your requirements.
Instruct your solicitor
You will need to instruct your solicitor as soon as you have signed the Reservation Agreement and paid the Reservation Fee.
Your solicitor will take care of all of the legal aspects of buying a home and you will need to make sure that regular contact is kept with your solicitor.
Rose Homes can recommend a solicitor if requested
Mortgage valuation and survey
Your selected mortgage lender will require a valuation by a surveyor to ensure your new home is worth what you are paying for it.
They will arrange the valuation directly with Rose Homes and a member of the Rose Homes team will meet the surveyor at the property to carry out the survey.
Please note that this may require a fee.
The Final stages
These are the final stages of purchasing a new home, your solicitor will tie up the final bits of paperwork including signing the contracts and arranging the transfer of the property from Rose Homes to you.
Your mortgage will be confirmed and your mortgage lender will also wish to tie up the final stages before being ready to release any funds agreed.
One the legal works have been completed, your solicitor will exchange contracts with us. As the purchaser you then become legally committed to purchasing a property with Rose Homes. We aim to do this within a set time period which is shown and fully explained to you when you reserve your Rose Home. We then mutually set a date or time frame for completion to occur. This is also the time to start thinking about packing and organising removals.
This is the best bit! On this day the money is transferred and the deeds of the property are transferred and the sale is officially concluded.
This is the day when you take ownership of your dream home.
You will be contacted by a member of the Rose Homes team to inform you that completion has occurred and then a mutual time is agreed to meet at the property to conduct the official hand-over.