Preparing your paperwork for purchase

Sun 07 May 2023

Carol Bryson MNAEA, Managing Director of JP Harll

Have you seen the perfect home for you?

You’ve made an offer, which is acceptable to the seller and the agent has told you what paperwork they need from you. 

The property will not be taken off the market until you have provided them with what they need to enable them to comply with the Property Ombudsman Rules.

What do you need to provide?

Everybody has to provide proof of identity and proof of address with two separate official documents.  Current Passports and Current Photographic Driving Licences are preferred.

If you don’t have a Passport you can use your Driving Licence as proof of Identity.  If you don’t have either you will need to provide some other form of photographic evidence from an official body.

You can also use your current Council Tax Bill as proof of address or a recent utility bill but not a mobile phone bill.

Next you have to prove your financial ability to purchase at the agreed price.

If you are a Cash Buyer this will be proof that your monies are held in a Bank or Building Society Account in your name.

If you are receiving some gifted monies from a family member they will also have to provide all of the above too and a letter stating that they are gifting you the monies.

If you are obtaining a mortgage for your purchase you will need to provide an Agreement in Principle (which is sometimes called a Decision in Principle) from a Mortgage Lender.

If you are selling a property in order to purchase another one, you will need to provide a copy of the Memorandum of Sale which you will have been provided with by your own estate agent.

If you have a mortgage on the property that you are selling, you will need to provide your most recent Mortgage Statement.  This confirms the equity held in the property.

The property you are trying to purchase will remain on the market until the agent is in receipt of everything needed.

So, if you want to prevent being pipped to the post by another buyer – be purchase ready!