Conveyancing Tips For First Time Buyers
How To Make Sure Your First Property Purchase Goes Smoothly
Having a quality conveyancer work on your behalf is an absolute necessity when it comes to achieving a hassle-free first property purchase.
170,000 people bought their first home in the first half of 2019, making it the busiest period for first time buyers getting on the property ladder in the last decade. But purchasing a starter home is undoubtedly still an exceptionally expensive venture, which means that buyers need to be particularly savvy about additional outgoing costs such as paying for surveys, mortgage brokers and legal fees. In the case of getting great value for money from your conveyancing solicitors, it all comes down to selecting the right professional to work on your behalf and using the following tips to make sure the move goes smoothly.
Choose Your Professionals Before Making An Offer
Many first time buyers concentrate on finding the right property, and then making an offer. Once this is accepted, suddenly they have to find and instruct a conveyancer, surveyor and sometimes even a mortgage lender. If you want your move to be quick and hassle-free, then ideally you’ll already know the professionals that you wish to work with during your move. You can instruct them on day one following your offer being accepted and let your team get to work without wasting any time.
Finding A Conveyancer You Trust
If you don’t have a solicitor in mind, it’s best to ask for recommendations via word of mouth, or look online for reviews of potential conveyancing firms. A professional conveyancing solicitors Essex team asserts that communication is a top priority for buyers when it comes to moving house. Delays can and do happen unfortunately, and a reputable conveyancer will keep you apprised of any setbacks or developments and even be able to anticipate challenges before they occur.
Before you sign with a conveyancer, make sure you understand expectations of the timeline involved and what they need from you in terms of ID, documents or additional information. You should also determine how long it normally takes them to respond to a message and what is the best method of communication to reach your conveyancer, whether it be via a dedicated portal, or more traditionally by phone or email.
Getting Your Finance In Place
Most estate agents would advise buyers to have a mortgage in principle agreed before making an offer, so that vendors will take them seriously. But alongside having the lending side of your finances in place, it’s also important to have access to cash throughout the pre-exchange period so that there aren’t any holdups in the conveyancing. You’ll likely need to pay some fees up front to your solicitor to retain their services, and you’ll also need funds to pay a surveyor. Finally, when the request comes in for you to pay your deposit, make sure that this larger sum of money is sat ready to go so as not to hold up your exchange of contracts.
The average house move takes anywhere from 8 to 22 weeks in the UK, so it pays to be as proactive as possible during this time. Work with a reputable conveyancer and ensure that they have everything they need from you to get you the keys to your new home!