But if you break it down into simple, manageable steps and make sure you seek proper legal and financial advice, it’s actually easier than you think. There are seven steps you need to take:

  1. First off, you have to know how much money you can actually afford to spend on a property. That includes having all details of your savings, as well as stocks, shares or investments, to hand. Plus, it’s important not to forget about stamp duty, registration fees and legal costs. Needless to say, betting transactions and missed loan repayments are red flags to financial institutions, so ensure that these do not apply to you. It’s also necessary to have life insurance to buy a property, so get this sorted before house-hunting begins.
  2. Now you’re ready to pick a property. Once you’ve picked the right place, it’s time to appoint a solicitor, who will be able to help you with paperwork throughout the process.
  3. The first step towards securing your property is paying a refundable booking deposit to the estate agent, after which they can issue sales details – such as the names and current addresses of the buyer and seller, the price and the proposed closing date of the sale.
  4. Next, contracts are issued, as well as copies of title deeds. The contract is prepared by the Vendor’s solicitor. The solicitor needs to check the terms of the proposed contract and review the title documents. This involves examining any issue which may affect the property such as planning issues, rights of way, mapping issues etc. In the case of a second-hand property you should arrange for a building survey to be carried out. Your bank or building society will send you a loan pack, which needs to be completed and signed. After checking and signing the contract, it’s time to pay the contract deposit, which is usually 10% of the purchase price minus the booking deposit you’ve already paid.
  5. Next up, the contracts are exchanged and a binding agreement is made between the parties. Your solicitor will raise a requisition on title after loan acceptance documents have been returned to your bank or building society. This requisition on title is then sent to the seller’s solicitor.
  6. Next, the balance of funds are delivered and exchanged for the completion documents. Finally, it’s time for the close of sale. This is the good news: this is the time you get the all-important keys.
  7. But there’s still a bit of work to do: the purchase deed must be signed and be stamped by your solicitor. Then, the deed is sent to the land registry for registration. Regardless of how long this process takes to complete, at this point you’re now the legal owner of the property. Congratulations!

Buying a property doesn’t have to be an insurmountable hurdle. By following the tips above, you’ll be able to navigate the process without much difficulty.

Contact us if you’re looking at buying a property soon. Our thoughtful, clear advice will guide you through the process to home ownership.

Tags: Property Law

26 February 2018

    Gillian and all at Augustus Cullen Law, A million thanks for a great job done. Justice for our son at last!!

    Catherine, Liam & William

    Dear Michael, A great result was achieved because of your efforts and we were truly blessed to have you on our side.

    Kathleen, Medical Negligence Client

    Dear Joice…you are and have been very professional, sympathetic and dignified in all of your dealings with us and I put that down to one simple fact. You listened.

    James, Medical Negligence Client

    Geraldine, Thank you most sincerely for all your hard work and commitment to these children.

    Freda McKittrick, Head of Barnardos Beacon Guardian Ad Litem service

    Neil is an absolute gentleman to deal with – kind, tactful and very efficient. We could not praise him highly enough. He brought us through a horrible time.

    Sean, Medical Negligence Client

    Many thanks again for a job well done. We really appreciate all your hard work and practical advice.

    Corporate client in a commercial litigation matter

    Dear Jamie, You and your team in ACL were so professional, diligent and prompt. I have recommended you and the firm, and will continue to do so

    Lorraine McCarthy

    Gus Cullen and the firm’s approach to addressing the key issues was professional, yet personal, efficient yet attentive.


    The process is a difficult one and when you deal with people who are so professional and yet genuine/real people, it makes it so much easier... so thanks a million.


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