This guide to the home buying process is designed to help you along the way and answer any questions that you may have. To discuss any of it in more detail, we would recommend visiting a Riva Homes development and speaking to a Sales Executive – but relax, we will be with you every step of the way.
The buying process - Getting your finances in order.
The fist step for buying a new home is to check to see what you can borrow, see how much deposit you will need. If you don’t have a financial advisor, then Riva Homes can provide you with details from one of our panel of Independent Financial Advisors.
Once you have some advice, you can arrange a mortgage in principle. This doesn’t tie you into anything - you can always choose a different lender later.
Now is the exciting bit! Choosing the right home. You can find one by location or development.
The countdown to your move
When you reserve your new Riva Home, we will go through the next steps together.
As soon as you are reserved, we will ask you to visit your sales advisor to examine the plans, drawings and details, just to make sure that you are happy with everything that we are doing. If you reserve early enough, you will be able to look at the choices that are available and start to personalise your new home, this can take several visits.
You will need to inform your solicitor that you are purchasing a new home. We have an approved panel of solicitors who we work with and who can support you throughout your conveyancing journey, working with our partners can save you time and money.
Book an appointment with an Independent Financial Advisor or your Bank to complete your mortgage application and pay your valuation fee if required.
After a week, you should receive the valuation on your new home, this means that your mortgage provider can now issue you with a formal mortgage offer, please inform your sales advisor of the expiry date.
You will be expected to exchange contracts and pay a 10% deposit or 5% with Help to Buy within 56 days of reserving in order to meet the reservation criteria.
As your new home is being built, we will invite you to join us on site at certain stages, this will allow you to see how things are shaping up. The first occasion will be at the Pre Plaster Meeting (PPM), this is an ideal opportunity to note the location of wires, sockets and pipes before the plasterboard goes on. The PPM can only take place within a small window of opportunity but we will give you a few days advanced advance so that you can arrange to meet us on site.
During your PMM it may be possible to take some photographs and measurements for your reference. Please note there will be no children allowed at this meeting due to health & safety restrictions.
Four weeks to move day:
If you are in rented accommodation, please notify your landlord of your dates.
Check that your new home insurance covers you from the date of legal completion.
Start obtaining quotes from removal firms if you need help with your move.
Notify your existing utility companies that you are moving.
Start collecting boxes if you are planning to pack yourself. You may be able to get them from supermarkets or they can also be purchased online.
Order your bins form your local council (you may have to pay the council for these), and don’t forget to book your sky & telecom installations as these companies sometimes need 4 weeks notice.
One week to move day:
Packing should be done carefully so you should be quite advanced with this by now. It’s always a good idea to label each box with what is included and which room they are for.
If you’re moving to a new area, please check with your doctor to check that if you need to register with a new surgery.
Arrange for the Post Office to redirect your mail, you can find out more about how to do this on their website.
Don’t forget to make a list of people and companies who need to be notified of your move.
Just to be safe, it may be worth finalising arrangements with your removal company.
Amend any direct debits relating to the old / new home. You should also contact your local council to let them know.
You will be invited to a demonstration meeting this is what we call a Home Tour, this is normally with our sales advisor and site manager. It’s an opportunity for you to find out how everything works in your new home and to prepare you for moving in. The meeting takes place during office hours and we will give you as much notice as possible so you can arrange to be there. Please note; this meeting is for purchases of the property only. At this point we will organise how your new keys can be collected.
If you are moving in on the same day that you legally complete you will be able to access your new home once advised from us that the funds have reached our solicitors. This can take place any time but is typically around 15:00, please advise your removal company of this so that it does not cause you any problems.
It is a good idea to pack an emergency box containing any important items you may need straightaway.
Don’t forget to read your utility meters at your old house and write them down.
We will take the meter readings for your new home and inform British Gas and Yorkshire Water of the readings for Gas, Electric and Water.
Legal Completion dates and Handover procedures.
Depending on what stage you reserve, we will give you an estimated season for completion.
Spring - March, April & May
Summer - June, July & August
Autumn - Sept, Oct & November
Winter - Dec, Jan & Feb
We will always try to ensure that your new home is ready for occupation by the estimated date on your reservation form. It is important to remember that this is an estimated date and that we cannot always guarantee this due to the nature of construction sites and the influence that weather, suppliers and third parties have on the programme.
When your new home has reached the roof stage, we will give you a completion month. When building control and the LABC inspectors have carried out their final checks and issued a completion certificate, we will then give you two weeks’ notice and confirm your actual move in day.
On the day of legal completion our Sales Advisor will give you a courtesy call to let you know that you have officially completed and they will invite you to site to collect your keys.