So you’ve decided you’re ready to buy a property, but you’re unsure what steps to take?
This handy step by step guide will talk you through each of the most vital steps when purchasing your first home!
1. first things first, before you even start to look at properties, Talk to a mortgage advisor and obtain a Mortgage in Principle (MIP) - You wouldn’t set off on a journey without directions, so why would you look for a home without having a budget.
2. Look for properties in your budget and start to book viewings - Register with a few estate agents in the area you’re looking in, if anything that fits your requirements comes onto their books they should notify you.
3. Once you’ve found the one, make an offer! - This is where the MIP comes in handy as the estate agent will use it as proof of funds to say that you are proceedable.
4. When your offer is accepted - Send over all the documents the estate agent needs, this will include: valid identification documents, Mortgage in principle and any other documents they request.
5. Let your mortgage adviser know that your offer has been accepted - You can then apply for your mortgage and instruct a solicitor (we work closely with a panel of solicitors so let us know if you’d like a conveyancing quote).
6. Your mortgage advisor will arrange a mortgage valuation survey and grant your mortgage.
7. Pay for your searches - These are enquiries made by your solicitor to find out more information about the property you plan to buy.
8. Your solicitor will raise enquiries raised by the searches and you will work through the conveyancing process.
9. Your solicitor will invite you in to sign all the paperwork and dates for exchange and completion will be agreed with the rest of the chain.
10. Move in!