New apartment-buying process

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phoenix_n

Guest
Could not find it in searching but have given a deposit on a new build. Could someone link me to a thread that describes the process, ie. contract etc....

cheers...
 
Don't know if you're looking for more detail but a brief outline of the stages involved:

Get mortgage approval in principle
Find property
Place bid
Pay booking deposit to 'secure' property when bid is accepted
Arrange full mortgage approval/loan offer
Sign contracts
Pay 10% deposit if necessary
Draw down stage payments if it is a new build and they are required
Close sale (on completion in the case of new build) - get keys
 
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