Buying a new home is an exciting time, and we'll help you at every stage of the purchase.
So you've chosen your new Chestnut home and want to know what to do next?
Don't worry! Our friendly Sales Negotiators are fully trained to guide you through every aspect of your purchase and will be happy to help with any queries you may have. This guide will help you understand the buying process.
Reserving your new home
Our Sales Negotiator will help you complete the Reservation Form and you will be sent a useful guide ‘Buying Your New Chestnut Home’ within a few days of reservation. At this stage, a Reservation Fee is payable (normally between £250 to £1,000) which will reserve your new home, usually for a period of 4 weeks, during which time, Exchange of Contracts will take place. Completion will usually follow 7 to 14 days later or when your new home is ready. Our Sales Negotiator will liaise with you on a regular basis to ensure you are kept up to date with the progress on the purchase of your new home.
Finance & Mortgage
Before a Reservation can be accepted, we need to be satisfied that you will have the funds available for the purchase of your new home. You will therefore have to do the following: (i) BE A CASH BUYER – A cash buyer is someone who can purchase a new property WITHOUT the need to sell a property or take out a mortgage. We will need proof that the required funds will be available, and that they will be available at the required time. OR (ii) BE QUALIFIED FOR A MORTGAGE – You must have a mortgage ‘agreed in principle’ before a property can be reserved. We can help you arrange a mortgage through a nominated financial advisor. AND/OR (iii) HAVE A PURCHASER FOR YOUR EXISTING HOME – Unless you have been accepted on to one of our ‘assisted purchase’ schemes, you must have a buyer for your existing home and the ‘chain’ must be complete. If you also require a mortgage, then (ii) above must also be satisfied. AND/OR (iv) BE ‘SCHEME APPROVED’ – If you are buying under one of our Schemes (eg HomeBuy Direct or Part Exchange) you will need to be approved under the particular scheme prior to reserving your new home.
The legal bit
Instructing a solicitor You need to find and formally instruct a solicitor to act on your behalf. If you are not sure who to use we can always recommend a selection known locally to us. Their responsibility is to arrange for the transfer of ownership of the property, often referred to as ‘conveyancing'. You'll need to pay various fees at this stage, so make sure you understand what these are likely to be. Make sure that you instruct a solicitor as soon as possible as time will be of the essence during the purchase process. Your solicitor and our solicitor will liaise with each other, and provide all the necessary information required to progress the sale, and your mortgage (if applicable).
Exchange of Contracts Once your solicitor is happy with the details of the purchase and you have received your mortgage offer you'll be able to sign the draft contract. At this stage you will need to provide your legal advisor with your exchange of contract deposit and instruct them to exchange contracts.
Building progress & choices
Choices and Options
Depending on the stage of construction you can usually choose from an extensive range of finishes which normally includes kitchen units, worktops, wall tiles and wall colours. Depending on the stage of construction we can incorporate extras from our standard list and carry out minor alterations to our standard specifications. The Sales Negotiators have a list of extras available, and are only too happy to work with you to tailor your new home to meet your requirements. They will contact you at the appropriate time, so you can visit the Sales Information Centre and make your choices from the finishes on offer.
Build Progress Updates
We'll provide you with regular updates on the progress of your new home and its anticipated completion date.
When your new home is complete, we will invite you to attend a ‘Demonstration Visit’ which will equip you with detailed knowledge about your new home and how to operate it correctly. The visit will last approximately 1 – 1 1/2 hours.
Legal completion & handover
Legal Completion and Hand-over Day
When your new home is nearing completion, the Final Invoice will be forwarded to you, and a copy sent to your solicitor. Legal completion actually takes place when the balance of the purchase price monies has been received by Chestnut Homes. On the day this occurs we'll release the keys to your new home as part of a hand-over with our sales negotiator. We will note the readings of the electric, gas and water meters and forward the details to the relevant companies. PLEASE NOTE THAT THE KEYS TO YOUR NEW HOME CANNOT BE GIVEN TO YOU UNTIL SUCH TIME AS THE MONIES FOR YOUR NEW HOME HAVE BEEN RECEIVED INTO CHESTNUT HOMES’ BANK ACCOUNT.
On Hand-over Day we will provide you with a comprehensive Homeowner Manual which will contain information about your new home, guarantees and instructions for appliances and important things you may need to know. The manual includes very important information about the warranty cover for your new home, and how to look after your new home. IT IS ESSENTIAL THAT YOU READ AND UNDERSTAND THE INFORMATION.
After sales service
Although we hope there will be no problems after you have moved in to your new home, our commitment to you continues for 2 years after the sale has been completed. Our After Sales Service will be explained in detail to you at the Demonstration Visit, and is also covered in the Homeowner Manual. Once you’ve been living in your new home for a few weeks you will receive a customer satisfaction survey from us. Please take the time to complete the form, as we really do like to know what you think of us and we do act on all information received.