First time buyers Having bought and sold many of the same properties several times over, you could say we have insider knowledge that will help you make that important completion – hassle free. Call our conveyancing team at Taylor&Emmet on 0114 218 4000 or contact us online so we can provide you with expert legal advice to help you with the purchase of your first home. We have detailed below some other aspects of the house buying process to help first time buyers understand the whole process of buying a home. The Mortgage It is advisable to make enquiries to prospective lenders regarding your mortgage before you start seriously looking for a house. By doing this you can find out exactly how much the mortgage company is willing to lend you and you can obtain an offer in principle. This will speed up the process once you find a house and are ready to make an offer. Costs Try to budget for all the costs involved in buying and moving into a house, remember to include: Solicitor’s fees Stamp duty land tax Mortgage costs Insurance costs Removals costs Survey costs Making an offer When you've found the right property, make a verbal offer through the estate agent handling the sale. The estate agent acts as intermediary between you and the sellers to negotiate the price, but do remember that they act for the seller who pays their fees. Once your verbal offer has been agreed the deal becomes ‘subject to contract’, which only becomes legally binding when it has been signed by both parties and exchanged by their solicitors. Professional Advice Once your offer is agreed you need to instruct the following professionals to ensure that each aspect of your house purchase runs smoothly. Surveyor A surveyor will assess the structure of the house, its condition and any restorative work required. This will depend on the type of survey you have. The three types of survey available are: Valuation This type of survey is carried out by your mortgage lender. This is a very basic survey and is only for the purposes of ensuring that the house is suitable for the mortgage lender to lend money on. Homebuyers’ survey This should pick up all major faults with the property as well as things which could need work in the future. Building survey This is the most thorough type of survey and is often referred to as a ‘full structural survey’. It is more expensive but it is recommended for very old properties or those in need of work, or simply if you want the extra peace of mind that it can provide. Insurance You will need two types of insurance to protect your property and your mortgage. A life insurance or endowment policy, and buildings insurance to protect the building from unforeseen damage. You may also want to arrange home contents insurance for when you move into the house. What happens next Call one of our specialist conveyancing solicitors who will help you through the process and advice in any question you may have, there is very little our residential conveyancing department doesn't know about Sheffield and its property market. In fact, having bought and sold many of the same properties several times over, you could say we have insider knowledge that will help you make that important completion – hassle free. Alternatively fill out the our simple enquiry form.