Understanding the Purchasing Process as a First-Time Buyer
Navigating the property market can be intimidating for first-time buyers. We wanted to keep it simple by providing a concise overview of the steps involved:
- Financial Preparation: Assess your financial situation and determine your budget. A crucial step before you start your search is to obtain a mortgage Agreement in Principle to understand how much you can borrow. We would highly recommend speaking to a mortgage advisor rather than getting one online, as they assess the entirety of your personal situation and finances.
- Property Search: Identify properties that meet your criteria. A good place to start is by writing a list of things you like and don’t like, as well as turning on notifications for all property portals with your specific criteria. Once you find a potential home, we can note interest on your behalf. This is usually the step before an offer and shows your intent to the selling.
- Making an Offer: When you find the property you love, with our guidance, you will submit an offer. Our team of expert solicitors are extremely well versed in the market and will reach a figure with you based on their analysis of current conditions and your budget.
- Conveyancing: Our experienced legal team will handle all legal aspects, ensuring a smooth transfer of ownership. This includes a lot of reading of documents, getting your mortgage offer accepted by the bank and negotiating any additionals.
- Finalising the Purchase: Once missives have concluded, our team will guide you through the final steps, which includes agreeing a date of entry, signing contracts and arranging the transfer of funds.
After that, you will be able to collect your keys, and officially be a homeowner!