Step 1:  Make an appointment with your bank and a mortgage broker to find out how much money you will be able to borrow. A mortgage broker will be able to source different options and multiples of income for you.

Step 2:  Decide what type of property you like and where you would prefer to live. Try not to be too specific, your ideal house may be just around the corner.

Step 3:  Register with Estate Agents, receive property details and arrange to view any properties that interest you. Be prepared to view lunchtimes/evenings or weekends if necessary.

Step 4:  Having found your ideal home, you can make an offer for the property. Once your offer has been accepted it will be subject to a satisfactory survey report, final approval from your bank and a report from your Advocate. If you are not locally born you will also require a Housing Licence.

SURVEY:  Your bank will give a list of approved surveyors who will arrange access to the property through the Estate Agent handling the sale.

BANK:   When your bank has received a copy of the survey report and is satisfied, it will issue a FACILITY letter formally offering you a mortgage for your home.

ADVOCATE: You may use whichever Advocate you wish. He/she  will check on your behalf that the property you are buying is actually owned by the person selling it, that any rights of access are included in the Title Deeds, and that you are aware of any liabilities regarding the property.

LICENCE:  If you are NOT locally born and are living here as an essential worker, you will be given a Rateable Value restriction from the Housing Authority.  The Rateable Value applies in that you can only purchase a property with that Value or above. HOWEVER, if you choose to purchase a small property i.e. with only one bedroom or a second bedroom which is less than 10` x 7`, you may apply to the Housing Authority without having to consider the Rateable Value. If you require a Housing Licence then you will have to apply to the Housing Authority for a licence to occupy the property you are buying. The Estate Agent you are dealing with will be able to complete the form for you. This needs to be returned to the Housing Authority without delay.

Step 5:  You will normally have between 10-12 working days before you are required to actually sign Conditions of Sale. During this time the Survey will be carried out, your Advocates will do the required checks and your finance will be approved.  Also you will discuss the date on which you will actually own the property, i.e. completion date. This must be a Tuesday or Thursday as these are the only days on which the Court sits. Generally this is a mutually convenient date and is about 6-8 weeks after your offer is accepted.

Step 6:  Having completed Step 4, your Advocate will arrange an appointment to discuss all the implications of the Conditions of Sale, the Title report and also check that you have a facility letter from your bank. Now you are able to sign the Conditions of Sale and pay a deposit, which is usually 10% of the purchase price. The deposit money is normally held by the Estate Agent as stakeholder and any interest which accrues will be paid to you after completion.

Step 7: Before completion you need to contact Guernsey Electricity, States Water, Guernsey Gas and Cable & Wireless and notify them of the change of ownership. The Vendor will arrange final readings. You also need to arrange house insurance.

Step 8: Attend Conveyance Court with your Advocate; receive the keys to your new home and MOVE IN!

MOVING ON

Do you wait until you find a property you want or do you put your house on the market first? This is the problem faced by almost everyone moving on. If you wait until you have found your ideal home, then the chances are someone else will think the same and they may be cash buyers or have their house already under offer. Unless you are able to borrow money from the bank, a Bridging Loan, before you sell your property you cannot proceed. You need to have accepted an offer on your house before a reputable agent will take an offer on your next home. It may be very tempting to make an offer and take your chances selling your property, but you will be required to sign Conditions of Sale and pay a deposit. You may be able to do this, but if the completion date arrives and you have not sold your house you stand to lose all of your deposit, so the recommended way forward is to market your house before looking for your next home. If you are concerned about being left homeless, you can stipulate that you will need time to find a property before completing on your own home. This is much more common these days, and as long as everyone knows the situation, you should be able to proceed. It is not uncommon for people to ask for three or even six months to find a new home.

Step 1: Arrange a valuation of your property and ask our advice regarding any minor improvements we may suggest for your property. Generally new kitchens and bathrooms are best left to the new owners, but decluttering is essential and don't forget the outside! Remember you only have one chance to make a first impression and prospective buyers will nearly always drive past before they make an appointment to view your property.

Step 2 :   Make an appointment to see your bank manager or financial advisor to find out your maximum price limit before you start looking at houses.

Step 3:  Register with Estate Agents to receive property details.

Step 4:  Place your property on the market. You may choose one Estate Agent (Sole Agent) in which case your selling commission will be 1.5% of the sale price or if you decide to instruct more than one agent, your sale commission will be 2% (Multiple Agents) of the sale price. It is important to choose an agent who will act according to your instructions. REMEMBER - you only pay our fee if we are successful in selling your property.

Step 5:  Sit back and wait for your Estate Agent to call and arrange to show people around your house. You may prefer to be out when people come around - it can be uncomfortable listening to other people’s ideas for your home. When you receive an offer for your property make sure you ask your Agent the terms of the offer.

For example:

Do your purchasers need to sell their house? Is it on the market?  If not, you may have a lengthy wait until they are in a position to make a firm offer.

Have they got finance approved in principle? Do they have a good idea how much money they can borrow?

What time scale are they considering? If they have already sold and have a short length of time to find a property will that give you enough time to find another home?

It can be very tempting to take a high offer without knowing the terms of that offer, but you need to know all the details before you can accept the offer and your Agent must find out the exact details on your behalf.

Step 6: Once you have accepted an offer, you are then able to put in an offer on your next property. The offer you make will be subject to Finance, which is the money you raise from selling your house plus the mortgage you have arranged, Survey, Property Matters and, if you are not locally born, a Housing Licence.

SURVEY:  Your bank will give a list of approved surveyors who will arrange access to the property through the Estate Agent handling the sale.

BANK:   When your bank has received a copy of the survey report and is satisfied, it will issue a FACILITY letter formally offering you a mortgage for your home.

ADVOCATE: You may use whichever Advocate you wish, he/she will check on your behalf that the property you are buying is actually owned by the person selling it, that any rights of access are included in the Title Deeds, and that you are aware of any liabilities regarding the property. Usually if you are selling a property and buying another your Advocates will be able to handle both the sale and purchase at the same time.

LICENCE:  If you are living here under Licence you will need to apply to the Housing Authority to occupy your next home, which must comply with the terms of your Housing Licence. The Estate Agent you are buying the property through will be able to complete the form for you. This needs to be returned to the Housing Authority without delay.

Step 7: You will normally have between 10-12 working days before you are required to actually sign Conditions of Sale. During this time the Survey will be carried out, your Advocates will do the required checks and your finance will be approved.  Also you will need to discuss the date on which you will actually own the property, i.e. Completion Date. This must be a Tuesday or Thursday as these are the only days on which the Court sits.

Step 8:  Having completed Step 4, your Advocate will arrange an appointment to discuss all the implications of the Conditions of Sale, the Title report and also check that you have a facility letter from your bank. Now you are able to sign the Conditions of Sale and pay a deposit, which is usually 10% of the purchase price. The deposit money is normally held by the Estate Agent as stakeholder and any interest which accrues will be paid to you after completion.

Step 9: Before completion you need to contact Guernsey Electricity, States Water, Guernsey Gas and Cable & Wireless and notify them of the change of ownership and to arrange final readings. Your house insurance should remain in force until the day of completion. You are required to maintain your house and garden in the same condition as when your purchasers saw the property.

Step 10: Attend Conveyance Court with your Advocate; receive the keys to your new home and MOVE IN!