Buying Guide

Estate Agent South Armagh

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1. Affordability and Arranging A Mortgage

Once you have decided to buy a property, you will need to know exactly how much you can afford. Having your finances in place and having a mortgage agreed in principle (if required) before you start looking at properties is an important first step in buying a property. We can arrange a meeting with Ashtree Financial Services to start this process.

On top of the cost of the house itself, there are many other, one-off expenses involved in buying a home and moving e.g., Stamp Duty, Survey Fees, Solicitors Fees, Removal Fees, any final bills e.g., gas, electricity, from your present home when you move out, etc.

2. Find Your New Home

Looking for a new home can be a time-consuming process. It is worth taking the time to sit down and think about what you want from your new home.

Register at Michael McArdle & Son so that we can email you when properties that match your requirements come on the market.

3. Make An Offer

Once you have found the property that is right for you, the next step is to make an offer. At this point you should make it clear if your offer is to include anything and specify it clearly. Michael McArdle & Son will put this offer forward to the vendor on your behalf.

You may be asked to provide proof that you have the finances in place or a mortgage agreed in principle. Once you make an offer make it clear that it's subject to contract and a satisfactory survey.

4. Instruct A Solicitor

Upon Accreptance of your offer, you will need a Solicitor to act on your behalf when purchasing a property.

Michael McArdle & Son will be happy to recommend a choice of local Solicitors or you may already have a Solicitor that you have worked with previously or has been recommended to you.

5. Legal Work

Conveyancing refers to all the legal and administrative work associated with the process of transferring the title ownership of property from one person to another.

Your Solicitor will act on your behalf with the assistance of Michael McArdle & Son and you will be kept well informed throughout. This part of the process is crucial.

6. Life Assurance and Home Insurance

When you buy a new home, it is important to think about insurance and any other affairs connected to the purchase of your home, especially if you are a first-time buyer.

Most mortgage lenders insist that borrowers take out home insurance to protect your property especially in a situation where you are unable to continue to pay off mortgage loans. You should also consider making a will once you're a homeowner especially if you have dependants.

7. Exchange Contracts

Once you and your Solicitor are satisfied that everything is in order, the contracts can be exchanged. You sign the contract and pay the deposit.

The vendor then signs the same contract. At this stage - once contracts have been exchanged - both parties are legally bound to follow through with the transaction.

8. Let Everyone Know You're Moving

A few weeks before you move, contact Royal Mail to arrange the redirection of your post - a good precaution against identity theft.

9. Completion

On receipt of funds from your Solicitor, the vendor's Solicitor will contact us to authorise the release of the keys to the property.

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