Top Tips for First Time Buyers

First Time Buyers: You have found your dream house; your offer has been accepted and now the Estate Agent is telling you it is time to instruct a solicitor to deal with the conveyancing

Conveyancing is the legal process by which the title of one house is transferred from one person to another.

Choosing a Solicitor:

So, your first instinct is to ask the Estate Agent can they recommend a solicitor? After all they know what they are doing and deal with property purchases and sales for first time buyers, all day, every day. Emphasis on that they deal with purchases and sales transactions, not the legal conveyancing process.

Blunts tip to you as first-time buyers is to do your research. It is important to find a solicitor who is communicative and personable. It is important to have someone who is knowledgeable and experienced but equally is not going to throw a lot of legal jargon your way. Your solicitor needs to know that you understand what is happening and should, therefore, be willing to answer any questions you have.

By the way, there are no “silly questions” this is an important life event and you will be making a big financial commitment, it is imperative that you clearly understand everything about the process. So, ask all the questions, your solicitor should make the time to answer and explain things clearly for you.

Look at google reviews and ask friends and family for their recommendations. This can be helpful as you will be getting people’s first-hand experiences of dealing with certain solicitors. Once you have a few solicitors in mind, pick up the phone and call and ask for a conveyancing quote.

Compare Conveyancing Quotes:

By calling the solicitors for a quote they will be able to run through all the aspects that make up the quote. This is important for first time buyers as there will be many disbursements and fees that you will have never heard of. The solicitor should be willing to explain what the fees and disbursements are and why you need to have them as part of the process.

It is important to remember that whilst the cheapest quote will keep costs down, you need to ensure that you will be provided with the best possible service.

Preparation of documents:

You have picked your solicitor and have advised the estate agent of their details. A few days later a large pack of paperwork lands through the letterbox asking for detailed information from you.

What Blunts can advise is to have all your documents in order. Both your solicitor and the estate agent will require confirmation of how you will be funding the purchase.

Have your mortgage in principle documents available. You will also be required to provide copies of your formal Identification documents:

  • Passport
  • Driving Licence
  • Recent Utility Bill (within 3 months) or alternative proof of address document

If you are receiving a gift towards your deposit, for example, a family member is contributing, they will also be called upon to provide the above Identification documents and sign a gifted deposit letter. Do not be alarmed by being asked to complete a source of funds form. This is a legal requirement for solicitors to have proof on file of where the funds for your purchase have come from. Again, if you are receiving a gifted deposit, the donor will also have to complete a source of funds form.

Taking into account the above points, you should now be armed with the necessary information to choose your own solicitor independently. Buying a house whilst exciting can be a stressful time, you should choose a solicitor that you believe will take the stress out of the conveyancing process.

If you are buying your first home and would like a quote for conveyancing please call Blunts Solicitors 01625 429131 or email info@bluntssolicitors.co.uk