Are you a First Time Buyer?

Buying a property can be an emotional and stressful time for even the most experienced of homebuyers; and this is even more so for first time buyers. We understand the prospect of committing your life savings to a property can be daunting and overwhelming.  The Legal Ombudsman recognises this, and has produced  a guide specifically aimed at first time buyers.  We explore a few of the pertinent points below: –

First things first, you will have an awful lot of information to digest and there will be a lot of legal terms you may not be familiar with. You are not expected to know the intimate details of the Conveyancing process, so please do not be afraid to ask questions if you are struggling to understand any of the literature.  We want you to go away with a clear idea of what your responsibilities as a homeowner will be.  If you have any concerns or queries, big or small, you should raise these with one of our specialist Conveyancing solicitors here at Emery Johnson Astills.

Your Solicitor will check the legal title of the property and undertake Searches on behalf of you and your Lender, (if you are having a mortgage). A report on title will then be issued to you.  It is extremely important to read this information thoroughly and if you have any queries, you should raise them with your Solicitor.

It is advisable to have a Survey carried out on the Property that you are buying and your Solicitor may well want to have a copy of this to read through. However, your Solicitor will not be able to advise on the building/structural integrity of the property.  For more information on Surveys, you should visit the Royal Institute of Chartered Surveyors website.

There are a few simple tasks that you can do yourself. For example, revisiting the property before you exchange Contracts.  This means that if any damage has been done to the property, you can raise this with your Solicitor before you are legally bound to purchase.  You should also take care to check that the boundaries of the property accord with what is on the title plan.  Again, if you are unsure, you should speak to your Solicitor about this.

For further information and guidance on buying a property, please contact our Conveyancing department on 0116 2554855 or 01509 610312 and a member of our team will be able to help you take the first step to owning your new home.