Making an offer on a property is one of the most exciting parts of buying a home. You've found a place you love and you just want to move in - but first there might be a bit of negotiating and that huge long legal document we call a Sale and Purchase Agreement, which we'll talk about here today.
Let's break that down for you and explain what all these terms mean;
Sale and Purchase Agreement
This is a clause that allows your solicitor to look over the title of the property, check there is nothing unconsented you don't know about, and ensure there are no legal problems with the property. Often buyers insert this clause if their solicitor has not had a chance to view the offer before it is signed.
As you will often be signing an offer with a Real Estate Agent, (most of whom are fantastic at explaining the process) ensure you ask plenty of questions about what you are signing and that they insert the correct clauses and explain the agreement to you. Make sure your solicitor has a chance to look over the agreement before it's signed.
Making an offer should be a fun experience - so let us help!
Contact us at My Mortgage today and we'll make the process of finance for your first home easy!
Claire, Greg, Adam, Amber & the My Mortgage Team