When you’re buying a house for the first time, it can seem like a very complicated process and it can be easy to make mistakes. A good solicitor can help you through every stage of purchasing a property, but having an understanding of how the system works can help you to avoid disappointments and unnecessary delays.

Here at Irwin, Kilcullen & Co Solicitors, we pride ourselves on helping to simplify the process of buying a house, working with you to ensure an easy transaction wherever possible. There are, however, many questions that can arise to present potential problems with your purchase, and we’ve outlined a few of the usual suspects for you here.

Questions To Ask Yourself When You’re Buying a House:

1.    Is it new? If you’re buying a new build, it can be very exciting to view the show home and select the finishing touches for your property. However, you must ensure that you take good legal advice and check that the company who are building the property are registered correctly and have provided all the necessary documentation and guarantees.

2.    When is the purchase legally binding? When you are purchasing a property, it’s vital to understand exactly when you are legally tied into the purchase. Before this point, usually the exchange of contracts, you are not legally obliged to complete the sale if you change your mind, but after this point, you will not usually be able to withdraw without incurring severe financial penalties.

3.    Can I afford it? You will usually pay a deposit when you exchange contracts on a property, and this will usually ten percent of the total purchase price. If you are buying a new build, you may have already paid a preliminary deposit to secure the plot, and you should ask your solicitor to confirm whether or not this will form part of the total balance. There are also many other expenses inherent in buying a house, including legal fees, survey and search fees, stamp duty, and the cost of moving itself. You must ensure that you have funds in place to cover all of these outgoings, and be sure that you have done your calculations correctly.

4.    How will your mortgage work? If you are buying your property with a mortgage, you or your solicitor will be dealing with the mortgage broker and negotiating the best deal for you. You must usually complete the transaction within a certain time period after the mortgage offer is made, and you must communicate any unavoidable delays to the mortgage company in order to prevent your offer from being withdrawn or changed.

5.    What are you buying? Your solicitor will help you to check whether contents are included in the sale, as these are usually negotiated separately, and he or she will carry out legal searches to ensure that there are no unforeseen issues likely to arise with your purchase. These involve searches in the local area, and financial searches against the property, which can protect you from future problems.

The most important thing is to ensure that you have an experienced property solicitor on your side to help you to deal with the purchase process and complete your transaction with less stress. There will be frustrating moments, but with the right team on your side, you’ll be in your new home as soon as possible!

Find Conveyancing Solicitors in Cork

Looking for Conveyancing Solicitors in Cork City? Here at Irwin, Kilcullen & Co Solicitors, we specialize in all aspects of property law. Simply contact us online or call us today on +021 4270934 to see how we can help.