First Time Buyer
Tips For A First time Buyer
So you've decided to jump on the property ladder! Buying your first property can be quite daunting. However, by following some simple steps, it can be made a little less stressful.
Speak to either your bank or independent financial adviser first. They will take you through the mortgage application process and hopefully at the end of that, you will have an agreement in principle (MAIP). You'll them know what your financial flexibility is and the price range you can look in.
Engage the service of a solicitor to act for you. It's always the best to use a reputable firm who come recommended by family or friends.
The Solicitor will need to see:
• your passport or another form of photo ID
• a bill with your name and current address, dated within the last 3 months.
This will have to be provided before the solicitor can offer on a property for you.
Once they've seen then, that's it! You're ready to start the exciting journey of looking for your first property.
Next set up an account with rightmove.co.uk It's simple to do and you can tailor this to your price range,area and type of property. You'll receive alerts when a new listing that matches with you comes on the market, saving you having to scroll through the listings on a daily basis.
When you arrange a viewing, click on the heart logo which adds the property to your saved list. The notes box at the very bottom of the listing makes it simple to record the date and time of your viewing and has space for you to record your feedback after the viewing. This helps you keep track of your schedule and works well if you're viewing several properties in a short space of time.
It's also a good idea to request a home report before arranging any viewings.
Viewing is a 2 part process - the initial contact to view the property but also the courtesy to give feedback for the seller. It also gives the agent a good overview if who is interested.
If the property tick your boxes, then it's simply a case of calling your solicitor to note your interest / make an offer, since you have previously given them your ID.
If the property goes to a closing date, then your solicitor will keep you advised of the date and time and the number of notes of interest on the property.
If your offer is successful, then the solicitor will take you through the conveyancing for the property. Prior to the agreed entry date, you will only be able to revisit the property if the missives have been concluded so if you need to look at measurements for curtains, furniture etc, it's best to do this before you submit any offer.
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