The process of buying a house can be extremely stressful, but choosing a solicitor who is experienced in property law will help to make it as straightforward as possible.
Conveyancing, the process of transferring a property from one person to another, can present many problems and issues that can delay or even stop the purchase. Having an understanding of the conveyancing process can be very useful indeed, and we hope that our simple guide will help you to feel familiar with how it works.
What Happens When You Buy A House?
1. Making an offer. If you are looking to buy a new house, you will probably visit many properties before you find the right one for you. Once you find a property that you are interested in, you will begin the negotiation process to agree a price with the seller. The asking price is usually a guide price, so you will often be advised to make a lower offer and then come to a compromise with the seller, but with a very popular property, or one in which other parties are interested, you may offer the asking price initially. You must ensure that any offers you make are within your means, and if you are using a mortgage for part of the purchase, you will need to have a firm idea of the amount you can borrow, or a mortgage offer in principle to confirm that you have the funds available.
2. Engaging a solicitor. You will need a solicitor who focuses on property law to guide you through the process and handle all the legal aspects of buying the property. Whether you are buying a new property or a historic home, you may find specific problems that threaten your purchase and an experienced solicitor will be able to deal with these correctly.
3. Searches and surveys. As part of the process of purchasing a property, your solicitor will carry out searches concerning the property. These will include local authority searches, utility searches and searches in the surrounding area. Any potential problems with planning permission, neighbour disputes or on-going issues will be revealed at this stage, and you will have to make decisions about whether or not to go through with the purchase if anything you are not expecting is uncovered.
4. Mortgage Offer. Most people use a mortgage when buying a property, and if you are doing so, you will need to work with a mortgage provider or financial adviser to ensure that you have provided all necessary documentation and that you are in receipt of the available funds at the appropriate time. This can be a highly stressful element of purchasing a house, and it is important to be aware of the potential issues that may arise here.
5. Completing your purchase. You will agree a completion date with the sellers, although this may be subject to change if searches are unsatisfactory. On this day, if all proceeds well, your funds will be transferred to the seller and you will receive the keys to the property. At this point, the property will become legally yours, and you will be able to move in to your new home!
Find Property Solicitors in Cork
Whether you are buying or selling a property, we can help you to ensure that the process runs smoothly. Contact Irwin, Kilcullen & Co Solicitors Cork City, for a free consultation without obligation. Simply contact us online or call us today on +021 4270934 to talk to our experienced and helpful team.