First Time Buyers
Step by step guide to buying your first house
1. Having found your dream home and had an offer accepted, the first step is to tell the estate agent of your chosen solicitor so that they can let the seller's solicitor know who is acting on your behalf.
2. At this stage you should progress your mortgage application either through an approved mortgage advisor or directly with your bank to ensure your offer is released in good time for completion.
3. Meanwhile, your solicitor will receive a contract and documents of title from the seller's solicitor which provide confirmation of the seller's ownership of the property, whether the title is freehold or leasehold and details of any rights of way. Your solicitor will review these and raise any necessary queries.
4. The Seller's Solicitor will then provide Replies to Pre-Contract Enquires along with a Fixtures and Fittings List outlining what the seller will be removing from the property and what they will leave behind. They will also provide Property Certificates and Searches which will confirm, amongst other things, whether the property is connected to a sewer or a septic tank and if is served by a private road or one maintained at public expense.
5. By now your solicitor should have received a copy of your mortgage offer and they will now arrange an appointment for your call with them to sign the contract and mortgage deeds, discuss the documents they have received and any queries you may have. You will also discuss a proposed Completion Date to be agreed with the seller and arrange to transfer your deposit to the your solicitor before completion along with a copy of your buildings insurance.
6. Your solicitor will then send the Contract and a Transfer Deed to the Seller's Solicitor for the seller to sign and request the mortgage funds from your bank/building society. The Transfer Deed is the document used to transfer ownership of the property into your name.
7. On the completion date your solicitor will transfer funds to the Vendor’s Solicitors who then authorises release of keys. Your purchase is complete and you can now collect your keys from the estate agent and move into your new home!
8. After completion your solicitor will attend to registration formalities in the Land Registry and submit your Stamp Duty Land Tax Return to HMRC.
The average timescale from sale agreed to completion is typically around 6-8 weeks. If you have any questions about the process or if would like to instruct us to act on your behalf in purchase please contact us on 028 87724333 or request a quotation through our website.
