Buying a property is an extremely exciting time for people, especially if you are a first-time buyer. Although purchasing a property can have its ups and downs, it is all worth it when you have the home of your dreams.
Reasons to be hopeful about buying in 2022/2023
- First Time Buyers do not pay any SDLT when acquiring a home worth up to £300,000.
- The Help to Buy scheme is very helpful and is in its second year of running. As well as this, there is a possibility that new schemes will be introduced by the government.
- More new properties on the market to choose from.
Planning to buy a property and don’t know where to start?
The property market has seen a massive demand for houses in 2021 and 2022. As a result of the stamp duty holiday and the competition for the best houses out there. The increase in the number of buyers has left some purchasers feeling overwhelmed and wondering whether they should just postpone their moving plans until the market calms down. However, it is uncertain that the market will calm any time soon and now is not the time to give up on your dream home!
Here are a few steps to follow:
Prepare before looking
All sellers want a buyer who they can trust: Firstly, sellers will look to see if the buyer has sold/ is selling their property, are currently renting, have a mortgage agreed and in place or has cash readily available in their bank. The key point here is to GET YOUR FINANCES IN ORDER!
Have a solicitor or conveyancer ready
Ensure you have a solicitor or conveyancer ready to go. This will put you in a good position and will help to expedite the process.
Know your budget
Find out what you can afford before viewing homes. This is because you may fall in love with a home that does not tie in with your budget.
Make the most of viewings
Before booking appointments to view properties, create a list of properties that you see yourself living in in the future. Do not spend time viewing properties you have no intention of buying.
Be flexible
Buyers usually have their hearts set on where they want to live and what kind of home they want. However, a lot of the time buyers don’t have a backup plan. If you don’t find a property or you weren’t chosen in the first 2-3 months, then it might be best to compromise and open up to properties that were not in your original plans.
Should I use a conveyancer when buying a property?
Yes – You should get in touch with a conveyancer as soon as you consider buying a property as it can help speed up the process.
What will a conveyancer at TLS Solicitors do when they are helping me buy a property?
Our conveyancers play a crucial part when helping clients purchase a property, but their number one priority is to ensure that their clients’ needs are met.
Our conveyancers have a wide range of tasks to perform when assisting with a purchase of a property. At TLS, we have a focused approach and follow a structure that is efficient and keeps clients up to date.
Some of the tasks performed:
- Liaising with estate agents and seller’s solicitor continuously
- Carrying out searches
- Raising Enquiries
- Dealing with contracts from vendors solicitor
- Receiving mortgage offer and checking it
- Providing in depth report to the client on the property they are purchasing
- Liaising with mortgage lenders to ensure funds will be available when needed
- Exchanging of contracts with vendors solicitors
- Agreeing completion date and completing on the property
- Provide advice on Stamp Duty Land Tax and Leasehold Notice fees
- Arrange for the property to be registered in their name at the Land Registry
Call us today to get a quote on 01637 872 361.
We would love to help you find your dream home.