Buying a property is an important part in most of our lives. There are several things that we must consider, like do we have the money to buy our own house, what area will we live in, how many bedrooms, or is there off road parking.

Firstly a buyer must decide what features they want, what area they want to live in, and, most importantly, what price range are you willing to pay. Usually at this point the buyer would seek advice from a mortgage lender to get an agreement on a loan.

Now for the fun bit, viewing your potential home. There are many ways to search for a property. Estate agents will be more than happy to provide you with details on the types of property you want within your price range. Some vendors choose not to use an estate agent to cut down on fees, therefore advertising their house in a newspaper or property magazine. The newest and quickest way to search for your dream home is through estate agents who advertise online. This way is the easiest if you are looking to move long distance. Most sites will provide several pictures that you can view in the comfort of your own home.

So, you have found several houses that you would like to view, now you need to arrange a viewing. You may want to view the property several times, or do a bit of research on the area before you make your mind up to put an offer in.

Once your offer has been made and accepted you will need to instruct a lawyer or conveyancer on your behalf to liase with the vendors solicitor or conveyancer. At the same time as the legal paperwork is taking place, your mortgage lender will send a surveyor to the property to check that the it is worth the price that you have agreed to pay. Your solicitor may recommend that you ay to have a structural survey done on the property to give you an idea on its general condition.

Once the legal work, survey results are satisfactory and finances are in place, you may progress to exchanging contracts. Usually at this point a deposit of a minimum of 5% of the purchase is paid to the vendors conveyancer via your conveyancer. At this point, neither party can withdraw from the sale without incurring penalties.

A completion date is agreed on, and the balance of the purchase price is paid to the vendor and they have to vacate the premises. Contracts are signed and the solicitor draws up a deed of transfer. Stamp duty and any legal fees are expected to be paid on the day of completion too.

Day of completion arrives. The outstanding balance is paid and the conveyancer is sent the properties deeds. Estate agents and conveyancers fees are paid. The keys are handed over and the property is yours!

Happy moving