Your Guide To Buying A New Monro Home

This is your guide to buying a new Monro home. It has been prepared to explain the stages of the home buying process and the high level of service that you will receive from Monro Homes from the day you reserve your chosen plot to the day that you step through the door of your new home, and beyond. 

Step by Step Guide

1. Once you have decided to purchase your new home, we will ask you to complete and sign a reservation form which will confirm the sales price and any other terms and conditions

2. For your peace of mind, the purchase price will be fixed and cannot be increased by Monro Homes as long as you exchange contracts on or before the agreed date entered on the reservation form

3. Subject to the build stage, we will ask you to select your kitchen and tiling choices and to complete a ‘purchaser’s specification form’. This will ensure that the estimated move in date can be met satisfactorily.

4. We will also require a reservation fee and ask you to advise Monro Homes of your solicitor and mortgage finance arrangements. We will be happy to advise you of local solicitors and to arrange a for an independent mortgage advisor to contact you to provide a mortgage quotation.

5. Monro Homes solicitors will prepare the contract and send this to your solicitor. The contract will confirm the terms of the sale agreed with you and the agreed date for exchange of contracts.

6. You should contact your solicitor during the first week after the reservation to ensure that they have received the contract and other legal documents from Monro Homes, so that they can start making investigations on your behalf including the local authority search. Your solicitor will require search fees immediately.

7. If you require mortgage finance, you should submit the application to your lender within the first week as they will require a mortgage valuation on the property as part of their underwriting criteria.

8. Our sales consultant will contact you and your advisors during the first week to ensure that your solicitor and mortgage lender have received the necessary documents and to answer any queries that may arise.

9. When your solicitor is ready to exchange contracts, you will be required to sign the contract and pay a 10% deposit. Your solicitor may require this money a few days in advance to ensure that the funds are cleared by the exchange date. (Please note that personal cheques take a few days to clear)

10. When contracts are exchanged, the transaction is legally binding and the deposit is forfeited should you fail to complete on your purchase.

11. If your home is not build complete, an anticipated building completion date will be provided to you, please note that the move-in date for your new home will normally be two weeks after the building completion date.

12. Following the build completion date, our Sales Consultant will arrange an appointment for you to meet the Site Manager, who will demonstrate how the appliances and systems operate and give you the opportunity for you to inspect your new home. Any finishing touches outstanding will be carried out prior to your move-in date.

13. On the completion day, your solicitor will advise you when the balance of the purchase price has been paid to Monro Homes and our solicitors will confirm to our Sales Consultant when they are in funds and the keys may be released to you. (Please bear in mind that the banking system does sometimes cause a delay in the monies being received by our solicitors. It is always advisable to contact our Sales Consultant before arrival to check that we can release the keys to you).

14. Once your purchase has been completed, our Sales Consultant and Site Manager will hand the keys to you, agree the meter readings and Welcome you to your new Monro Home.