Written by 4:36 pm Featured, Insight, Legals

It’s National Conveyancing Week!

There’s no denying that people often groan when it comes to ‘the legal bit’ of buying or selling a property. We get it! Homebuying is an expensive and often pressured experience – so people want it completed as soon as possible. 

First of all, the process of conveyancing (legally transferring ownership from one person to another and managing the completion date for all involved) was never designed to be difficult – it is our job to help you complete the transaction and we work in your interest!  Secondly, there are actually things you can do as a buyer to try to speed up the process for yourself.

Being ‘ready to go’
We talk to our clients about being ‘conveyancer ready’ – basically being super organised. That can (and should) start way before you find the home of your dreams!

Take your time to work out what your budget is – speak with a financial advisor at the earliest opportunity to get a handle on your affordability. Look at your credit rating and fix any issues you might discover there. Doing this homework early on will allow you to be realistic when it comes to time to buy – and save on disappointment if something is out of your reach.

Usually, solicitors are brought into the mix quite late on in the process. People don’t realise you can instruct a solicitor earlier on in the process, right before you are ready to purchase. Having your solicitor in your corner early can really help.

Budget wisely
As well as understanding what you can borrow, make sure you think about all the costs involved in the process. If you’re buying an apartment, have you asked about the management fees ? If you’re looking at a new build, what is the booking deposit you need to pay to the estate agents to take your site off the market? It’s wise to get financial advice on what you’ll need to set aside for the various fees and costs involved as early as possible.  

Ask for help
Don’t be afraid to ask for advice, even if you’ve done it all before. You can ring a mortgage broker, a financial advisor or solicitors like us any time. Homebuyer events are really worthwhile – if you see one happening in your area, go along and benefit from the advice you’ll receive. Being clued in allows you to go into the homebuying process with your eyes wide open – meaning (hopefully) less surprises along the way.

Pitch yourself
At the moment in Northern Ireland, there are more people wishing to buy a property than there are properties available. So, if you’ve gone through the homework phase and decided to go for it, it’s worth thinking of trying to buy a property like a job interview process. Presenting yourself as prepared as possible is a really good idea. Anything you can do to help yourself stand out from the pack can help (having a pack with your payslips, proof of deposit, mortgage offer in principle, ID, proof of address…. etc). 

Buying a property is an expensive, important decision – but if you come at it having done the groundwork, it can run more smoothly with less stress and more speed. And we’re here to help every step of the way!

Contact Grant Robinson / Ross Carrigan at Millar McCall Wylie on T 02890 200050 / www.mmwlegal.com

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Last modified: 11/03/2024