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Conveyancing: Issues to Consider Before Commencing Your First Conveyancing Transaction

Conveyancing: Issues to Consider Before Commencing Your First Conveyancing Transaction

Conveyancing is the key to your first home is your first step up on to the property ladder; it is also a big investment, which you will not want to embark upon without some consideration. It will often be one of the most expensive things you ever purchase and so before entering into this conveyancing transaction, a first time buyer should think long and hard. If you are thinking of buying a house for the first time, one of the first considerations is to make sure that you have considered costs as one of the issues associated with a conveyancing transaction as many people are unsure of the escalating costs associating with buying a property.The high property prices have made it difficult for many people to afford to buy a home, especially first time buyers, as there are many other costs associated with conveyancing transactions, including:• Deposit

• Stamp duty

• Surveyor’s Fees

• Lender’s fees and charges

• Land registry Fees

• Removal chargesAny conveyancing transaction will often be stressful and complex; however a first time buyer’s experience will differ in many aspects from any other buyer’s experience. As a first time buyer, you will probable have very little knowledge of what to expect or how the transaction works. This will add to the usual stress involved with buying and selling property. Before buying a property for the first time and commending a conveyancing transaction, there are a number of issues to consider which may make your experience as a first time buyer easier.With such a large monetary investment, you will want to insure that you not only get value for money but that you also purchase a property that is re-sellable and with prospects for the future. You may wish to consider the following:• What is the neighbourhood like?

• Is public transport accessible nearby? (i.e. Train stations or bus stops)

• Where is the local supermarket? And do you have choice?

• Is the area and up and coming area?

• Is there scope for improvement? (Maybe a conservatory, paved driveway, or even an extension and not necessarily during your ownership.)Although some of these factors may not be important to you, they are the usual items on the checklist of most buyers. Another issue of consideration is choosing the right solicitor and with online conveyancing becoming increasingly popular, this is something that you should research thoroughly. There are many sites that provide a comparison service similar to what you would find when searching for say car insurance and it is advisable that you use these as a starting point. However, you should bear in mind that cheap is not necessarily the best when it comes to conveyancing.

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