1. Choosing your property
When looking to buy a home , you must decide on the kind of property and location you want. If necessary visit a mortgage adviser to check the likely level of mortgage you need and can afford. Shop around for options before you decide to buy.
2. Agreeing the sale
Before you agree a price or sign anything,make sure you know what’s included in the asking price. Your acceptance offer is still ‘subject to contract’– which means the sale is agreed but isn’t binding until you exchange contracts. Up to that point either side can back out without penalty.
3. Financing your property
Unless you are financing the purchase without a mortgage your next step is to find one – or make sure you have the money ready.
4. Arranging a survey
Engage a surveyor to conduct a survey of the property
5. Instructing your solicitor/conveyancer
You will need a solicitor or conveyancer. Once they’re happy with the legal aspects of the property, and you have the finance in place, you can sign and exchange contracts. Discuss with your legal adviser any requirement to pay a deposit as this can be up to 10% of the purchase price.
6. Exchange of contracts
When you exchange contracts, the seller is legally bound to sell the property to you.
You complete on the date agreed in the contract,where the rest of the money is transferred to the seller. Collect keys from the seller’s agent and then you can move into your new home.