Your essential guide to buying a new Dandara home
Whether it’s your first, second or fifth time buying, it’s a big moment. So, we have designed this guide to help outline the process of buying with us.
Stage 1: Getting started
One of the first steps to owning your Dandara home is to speak with our recommended independent financial advisors so they can advise on your affordability and monthly repayment costs. You are under no obligation to use them but they are new build mortgage specialists and will help guide you through your financial options and make the process smoother and easier.
Stage 2: Prepare to reserve
Once you have chosen your perfect new home, and all parties involved are in agreement, it's time to share important information with your sales consultant. You'll need to provide them with your personal details, the name of your chosen broker or lender and your solicitor (or advocate in the IOM). This way, they can prepare the official reservation agreement for your home.
Stage 2: Prepare to reserve continued...
Reservation checklist appointment
This meeting is where you'll go over everything with your sales consultant; please set aside around 2 hours for this. They'll walk you through the technical details and show you the plans for your new home. Plus, they'll be ready to answer any questions you have.
Reservation complete!
Once you have paid your reservation fee and signed your reservation agreement, your new home is taken off the market. This is when you enter into a 14 day ‘cooling off’ period.
Stage 3: Instructions begin
Ready to proceed? It's time to officially bring your chosen solicitor or advocate into the process. They will be the ones handling the important task of receiving and reviewing your home purchase contracts. As soon as they have these, they should look to exchange them within 42 days. This timeline helps keep everything on track and ensures you move forward smoothly.
Stage 4: Gathering your documents
It's important to share the right documents with your financial advisor. They’ll be your guide, letting you know exactly what paperwork you need to gather for your application. This might include things like proof of income, identification and any other relevant financial details that help paint a clear picture of your situation. Working together with your advisor will make the application process easier, bringing you one step closer to settling into your new home.
Stage 5: Mortgage application and valuation
Once you have submitted your mortgage application, the lender will forward your case to a survey company to carry out a mortgage valuation, they will contact our sales office to get this booked in. This is an important part of the process where an expert will assess the value of the home to ensure everything is in order for your mortgage; your lender will handle scheduling the survey.
Stage 6: Paying for search fees
These fees cover the cost of important checks that your solicitor conducts to make sure there are no hidden issues with the property, such as local planning concerns or boundary disputes. Your solicitor will guide you through this process and explain any findings, ensuring everything is transparent.
Stage 7: Receiving the valuation report
This report is essential because it confirms the property's value, ensuring everything is as expected. Once the lender reviews the report and completes a few final checks, you should be closer to receiving your mortgage offer. This offer is a key step in securing your finance; rest assured, the lender is diligently working to make sure everything is in place for a straightforward transition.
Stage 8: Contract review and signing
Take some time to carefully read through your home purchase contract. If you have any questions or need clarifications, don't hesitate to ask your solicitor or advocate – they’re here to help. Once you're happy with everything, go ahead and sign the contract. Then, return it to your solicitor or advocate.
Stage 9: Receiving and signing your mortgage offer
Your solicitor or advocate has received the official hard copy of your mortgage offer. This document outlines the terms and details of your mortgage, essentially giving you the green light to proceed with your home purchase. Take a moment to review it thoroughly to ensure everything looks good to you. If you have any questions, your solicitor or advocate is there to explain any part of it.
Once you’re comfortable with the terms, all you need to do is sign the offer. After that, return it to your solicitor or advocate so they can finalise everything on your behalf.
Stage 10: Paying your deposit
The next step involves your solicitor or advocate requesting your deposit. This is a vital part of the buying process, reflecting your commitment to the purchase. The deposit amount can vary depending on the area where you're buying, so it's a good idea to discuss this with your sales consultant. They can provide guidance and answer any questions you may have.
If you need to arrange for a reduced deposit, be sure to let your sales consultant know.
Stage 11: Confirming your deposit
Your solicitor or advocate has received your deposit, which is a big step in securing your new home. They'll now review all the details to ensure everything is in order. This thorough check keeps everything on track for a smooth process and your solicitor or advocate will keep you updated as you move forward.
Stage 12: Authorising the exchange or missive
You're nearing the finish line and Dandara is ready to authorise the exchange of contracts (or the signing of the missive in Scotland). This marks a firm commitment to the sale.
You'll just need to give your solicitor or advocate the go-ahead to finalise the legal details, confirming the agreed completion terms. Whether it's a fixed date or based on specific conditions, everything will be clearly set. Your solicitor or advocate, along with the Dandara team, will guide you through this final phase.
Stage 13: Finalising the exchange of contracts
The moment has arrived: it's time for the exchange of contracts. This step makes the sale legally binding for both you and the seller, bringing you much closer to officially owning your Dandara home.
Your solicitor or advocate will confirm all agreed terms are in place and that everyone is happy with the contract details. Once exchanged, you'll have a set completion date or terms based on prior agreements.
It's an exciting step toward making your dream home a reality. Your solicitor or advocate, along with the Dandara team, will help ensure everything goes smoothly as you near the finish line of your home-buying journey.
Stage 14: Notice to Complete
If you have exchanged on notice, our Legal Team or solicitor will provide your solicitor / advocate with the notice of legal completion according to the contract.
Legal completion then typically takes place within ten working days when the completion monies have been received by our Legal Team or solicitor / advocate.
Stage 15: Pre-completion Inspection
Our team undertake quality inspections of your new home to make sure everything is as it should be, but we’ll also invite you to inspect your home a few days after the move-in date is agreed. You can also instruct a suitably qualified inspector to undertake the visit on your behalf, if you want to.
Please note that any suitably qualified inspector must comply with the following:
• Be a member of a recognised professional association (e.g. RICS, RPSA, etc)
• Hold relevant Professional Indemnity Insurance
• Only work within their competency
• Inspect the home within the Premier Guarantee technical guidelines
We also need to point out that any visitors will be expected to comply with safety regulations set out by the Site Manager. (Please note: the Site Manager has the right to ask individuals to leave should they breach site safety rules.)
If you intend to appoint an inspector, please let us know as soon as possible.
Stage 16: New Home Demonstration
In the lead up to your completion date you will be invited to a new home demonstration, which is ideally held a few days before final handover as this ensures a smooth move into your new home.
Your Site Manager or Sales Consultant will meet you, take you to your new home and run through all its facilities and functions, to make sure you’re familiar with them come moving day.
These will typically include:
• Hot water, heating and kitchen appliances
• How to ventilate your new Dandara home
• Servicing and maintenance
There may be works on the development that still need to be completed when you move in. This could include things like roads, footpaths, landscaping, children’s play areas, etc. Our Sales Consultants will let you know the arrangements to finish these.
Stage 17: Legal Completion & Handover
The day you have been waiting for! Once the completion monies have been received by our Legal Team or solicitor the transfer will be complete and you will now become the legal homeowner.
Our Sales Consultant will call you to arrange a time to meet you at your new home to hand over your keys, take your meter readings and ask you to sign a handover form.
Congratulations, you can begin moving in!
Disclaimer:
Please note this guide does not apply to Dandara home purchases in Jersey.