The Purchase Process

When you buy a new Parkes home you are buying a home constructed to a high quality and specification. We aim to match these aspects by the service we offer throughout the purchase process and after Financial Completion.

We believe that the procedures we have in place will be convenient and help the purchase process run smoothly.

Reservation to Exchange of Contracts

Instruct a solicitor. You must instruct a solicitor at the point of reservation. Your Sales Adviser can help and recommend a local independent company if required.
Arrange your mortgage (if required). Our Sales Adviser can help and recommend an Independent Financial Adviser (see Independent Financial Advice/Mortgages).
Your Choices and Extras. One of the most exciting parts of buying a new home is choosing your kitchen, tiling and finishes, this makes your home unique. Our Sales Adviser will advise you on your options.
If you are selling a property in order to purchase ours then you will need to give our Sales Adviser the details of your Selling Agent/Chain. Your Sales Adviser will then monitor your sale on a weekly basis to make sure that it runs as smoothly as possible.
Signing Contracts. You can sign contracts as soon as your Solicitor receives a mortgage offer, satisfactory search results and answers to enquiries. If you are reliant on selling another property to purchase your new home you will normally wait until your purchasers are ready to proceed.
Pay the Deposit. Just before exchange of contracts your solicitor will ask you to pay your deposit. If you have sold a property then your solicitor may use the deposit your purchasers pay as part of your deposit to us.
Exchanging Contracts. This is the point when Parkes Homes and you are legally bound to the sale and purchase of your new home. Your solicitor will exchange contracts and, if the property is structurally complete, will fix a move-in date.

If you are struggling to exchange contracts by the reservation expiry date, don't panic! Your solicitor should contact Parkes' solicitor to explain the reason why and discuss the possibility of an extension to the reservation period. Any extension of the reservation period will be at the discretion of Parkes Homes.

Build Completion. Any proposed build completion date given at reservation is our best estimate and this is subject to change. Sometimes circumstances beyond our control (for example adverse weather conditions) can affect the completion date. However, we will keep you informed along the way.

Exchanging Contracts to Financial Completion

Your home is structurally complete. Once your new home is ready then we can serve notice on your solicitor to legally complete on your home purchase within the following 14 days. The date on which you legally complete is called your Financial Completion date. This is the day that you can move into your new home.
Viewing your new home. When your new home is ready we will invite you to attend a new home demonstration with a member of our team. It is essential that you make time to attend this demonstration as, at this meeting, we will demonstrate the functions of your new home as well as making sure that you are happy with the standard of finish.
Preparing to Financially Complete. Your solicitor will send you a statement informing you of the balance of money you need to pay to them prior to completing your purchase. If you have a mortgage then your lender may carry out a final inspection of your property and require confirmation from the warranty provider that your new home has been constructed to their standards, before releasing your mortgage funds. Your solicitor will then transfer the balance to Parkes' solicitor on the day that you legally complete.

Your Moving in day

Key Release. Your Sales Adviser will check that the completion monies have been received by Parkes' solicitor and then will call you to arrange handover.
Handover. You will be asked to sign a Key Release Form which confirms safe receipt of your keys, the final meter readings, instructions and guarantees and to confirm that you are happy with the quality of your new home.
After Sales/Two Year Peace of Mind Cover
A few days after you have moved in a member of our team will get in touch to make sure that all is well.
Should you have any queries or problems with your new home please call Jeanette, in the first instance, on 01902 907967.