Outright Sale
While not an option for everyone, there's no doubt that buying your home outright through traditional means is the fastest way to own 100% of your home.
Below we explore what outright sale is and what the process looks like when buying with Platform Home Ownership.
What is Outright Sale?
Outright Sale is an option available for purchasing a home, whether you’re buying on the open market or choosing it as a purchase method at the end of a Rent to Buy tenant period.
Purchasing a home through ‘Outright Sale’ is the most traditional way of buying a property and means you are the sole owner of the property, owning 100% of the home.
Buying an ‘Outright Sale’ property means you don’t need to meet any of the eligibility criteria that might apply to a Shared Ownership or Rent to Buy properties.
In some cases, Outright Sale is also referred to as Market Sale.
Outright Sale is generally the most popular form of property purchasing and we have a dedicated team to help you through the process.
Get in touch with Platform today and we can talk you through the best options for you and your situation, ensuring that it’s the best choice for your requirements.
Our Tips for Buying a New Build Home
Buying a home is probably one of the biggest purchases you will ever make. So it's only right that you should have a full understanding of buying a new build home. Platform discusses the benefits to buying new, as well as our top tips for buying new builds.
Read the blog
What is the Outright Sale Process?
Ready to buy a new home with Platform? This is an exciting time and you should enjoy as much of it as you can but at the same time, preparation makes for a smoother experience. Here's the process when buying a new home with Platform:
Choose a new home
From the day of your first appointment with a sales advisor, you will receive a personalised service to ensure that your new home is a perfect fit for you. A friendly sales advisor at your chosen development will be able to advise you about the different house styles available, talk you through your options, and answer any questions you may have. We know how important it is to make your home-buying journey enjoyable, exciting, and tailored to you – just as it should be.
Reserve a plot
Now that you have got your finances in order and have decided on your dream house, it is time for you to reserve your property. You will then be given a Customer Checklist which details everything you need to know about your new home and what to expect next.
Instruct a solicitor
A solicitor takes care of all the legal aspects of the home-buying process. Remember to shop around for the best rate and make sure you find one that specialises in conveyancing. We recommend doing this within 48 hours of making your reservation, to avoid any delays and ensure the process runs as smoothly as possible. It is also important to maintain good communication with your solicitor throughout the buying process.
Mortgage Application
You should confirm an appointment date with your mortgage advisor within 24 hours of making your reservation. Your advisor should then submit a full application with your preferred lender within seven days of making your reservation. If applicable, your survey fee will also need to be paid at this point.
Get a Valuation
Your mortgage lender will want confirmation the home is worth what you are paying for it.
They will organise the valuation for you – this may involve a fee.
Once valuation has taken place, you will receive your offer. A copy of this will be sent to your solicitor.
Complete legal work
Your solicitor will look after this for you.
It’s all about formally transferring ownership from us to you (known as conveyancing), and checking there are no legal obstacles in the way, like local plans that may affect the value of the property.
Once everything is finalised, your solicitor will ask you for your signed contracts and your deposit. Ensure this is with your solicitor at least 48 hours before the exchange deadline.
Prepare for Exchange
Exchange of contracts is the point at which you are legally obligated to complete the purchase of your home. You may exchange contracts with a ‘fixed’ legal completion date, but if the property is not ready to move into, you will exchange on ‘notice’. If you do exchange on ‘notice’, our sales advisor will be in regular contact with you to update you regarding build progress and your anticipated move-in date.
Tour Your New Home
You will be invited to attend a home demonstration at your new home, where your Platform sales advisor will show and explain to you its various features. Take advantage of this opportunity to ask any questions you may have, and have a thorough look around your new home. This is also an ideal time to take any measurements you may require.
Completion Day
On the date of completion, you become the legal owner of your new home. Our sales advisor will be on hand to make your moving day as streamlined and enjoyable as possible and will contact you so you can collect the keys to your new home as soon as the completion funds have been received by our solicitors.
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