There are many factors to consider when buying a new home. When you buy a ParcLife property our sales team will take you step by step through the following stages, making the process as easy as possible and ensuring you are well informed at each stage:
Selecting your property
The reservation process
Mortgage advice
Legal advice and conveyancing
Surveys
Missives
Deposit
Completion
Selecting your property
The Square and The Courtyards, being developed under The Green Quarter masterplan, includes a variety of different property types. The homes available range from 1 bedroom apartments to 3 bedroom townhouses. These can be explored in the Property Selector.
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The Reservation Process
To reserve a property in the Green Quarter a non-refundable reservation fee is required. As the fee is non-refundable should you change your mind, there are several things that you need to consider before reserving a property. Please see the detailed instructions available as a PDF download
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Mortgage advice
It is always important to ensure you have taken advice on which mortgage is most suitable for you. It is best to have a mortgage arranged in advance so that you are in a stronger position when you find the property you wish to buy. Mortgage lenders are able to give offers ‘in principle’ – a tentative agreement to lend you a certain amount of money. This amount should of course match your budget. Please contact us to receive details of an Independent Financial Advisor.
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Legal advice and conveyancing
Conveyancing is the legal term for the process by which property ownership is transferred and in order to complete the reservation form you will also need to have instructed a Scottish solicitor to act on your behalf. Please contact us to receive details of the solicitors who are ready to help with your purchase.
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Surveys
Once you have reserved a property your mortgage lender will require you to have a survey done on the property. Prices for surveys can vary and you should always use a surveyor registered by the Royal Institution of Chartered Surveyors (RICS).
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Concluding Missives
Your solicitor/conveyancer must receive your finalised mortgage offer and a draft missive from the seller's solicitor before he/she can proceed. Your solicitor has 14 days to complete this stage of the process on your behalf. Once both parties are happy with the missive, identical copies are signed. The copy signed by you will be sent to the vendor's solicitor, your solicitor will then receive the vendor's copy. This stage of the conveyancing process is known as ‘the conclusion of missives‘ and the sale is legally binding.
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Deposit
Once missives have concluded you must then pay a deposit. This payment is sent from your solicitor to the solicitor acting on behalf of the developer.
At this stage of the transaction you would also be required to pay for any extra fixtures and fittings, requested in addition to the standard specification.
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Completion
When you reserve the property you will be given an indicative completion for date for when the property will be available to move into. This date is given as a guide only and is not guaranteed, particularly if your property is still under construction. The sales team will keep you constantly up to date with the latest information during the period your property is being built. Once the property has been completed a Habitation Certificate will be granted by the Council Building Warrant Officer. A copy of this certificate will be sent to your solicitor along with notification that they then have 7 days to complete the sale and transfer the remaining balance of the sale price to the developer’s solicitor. Once the final payment has been confirmed by the developer’s solicitor as received, the ParcLife Sales Team will call you to arrange to meet you at the property to hand over your keys and to welcome you to your new home.
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Further details of the ParcLife sales process are available from the sales team.