The Key Steps Involved
Buying a house can be one of the most stressful, but exciting times of your life. As anyone who has been through a move will assure you, being prepared and having specialist support from the outset can make all the difference.
If you are considering buying a house, it can be difficult to know what to expect, and even if it isn’t your first time moving, refreshing your memory about the key points involved with buying residential property can be helpful.
Below we have laid out some of the key points involved with the purchase of residential property.
The Key Steps
As the old Army saying goes, ‘Proper Planning and Preparation Prevents Poor Performance’. Getting your finances in order, deciding on your budget and contacting your mortgage company should be your priorities when buying a house. Getting everything in place as soon as possible will make the process more manageable and give you the chance to start thinking about making offers.
Once your offer has been accepted, you will need a Residential Conveyancing Specialist to conduct investigations on the property, as well as the surrounding area, to ensure that there are no major problems with the house or flat.
Exchange of Contracts
Once the property searches are completed, a formal mortgage offer has been received and arrangements are made for the deposit, it is time to exchange contracts with the seller. Once these are exchanged, you will be in a legally binding contract to buy the property. Your solicitor will exchange the contracts with the seller’s solicitor or conveyancer for you.
The final balance will be transferred to the seller. Once the money has been received you are free to collect the keys and move into your new home! Whilst you are busy celebrating in your new property, your solicitor will register the sale with the land registry, pay stamp duty on your behalf (where required) and tie up and legal loose ends.
There is a lot to consider when buying a house. But having a specialist solicitor to handle the conveyancing can help to reduce stress and ensure a smooth and successful transaction.
Whether you need help with buying a house, selling a property or remortgaging, our Conveyancing Solicitors in Birmingham & Manchester will give you a first-class service. Head to our Residential Conveyancing page to view our full range of property services.!(/content/images/2017/07/W-OnPage-CTA-conveyancing-law-1.jpg)