How easy is it to buy a house?

The prospect of buying a house, especially for those who have never done it before, should be a straightforward process.

For instance, when you want to buy a new television, you might write down the requirements for what you want from a new television - the size, the colour, the extra bits and bobs that might make the desired model the one you want to buy. 

Then you might look at the technical specifications of the kind of sets that are on offer, while also looking at your budget and seeing what compromises might be needed to furnish yourself with that television set in order to make it affordable. You might even look at price comparison sites and read up on what other people think about the shortlist of televisions you've identified. 

And then you plump for the model of television that matches the majority of your requirements that also fit within the confines of your budget. You buy it and wait with increasing anticipation for the new television to be delivered, organising the room with a set place for it when it finally arrives. And then you can work through the set of instructions to ensure everything is plugged into the right socket and that it matches your expectations and conforms to your list of requirements and compromises.

So, why shouldn't buying a house be any different? 

After all, purchasing a property is something that also requires dedicated planning and funding and it's surely all about finding the right home with the best fit to your requirements, coming to an agreement on price with the seller that fits within your budget and then waiting for the house-keys to be handed to you. 

Isn't it?

Well, the truth is that, while comparisons can be drawn between buying such large items and purchasing a home, the latter is unfortunately a quagmire of complexity. 

For example, there are so many different people involved in buying a home: the estate agent, the mortgage lender, the conveyancing solicitor, the chartered surveyor, a mortgage broker perhaps, maybe experts to check on specific problems like flooding, the removals company, the utilities providers… and the list seems to be endless.

Of course, you'll be doing all the necessary planning and checks with respect to the shortlist of properties and you'll have got your ‘mortgage in principle' letter before putting in your offer to the seller.

But what many prospective buyers - and again it falls unsurprisingly to the first-time buyer in particular, since they don't always have the benefit of prior experience - what many prospective buyers fail to take into account is the amount of time the process takes from the point of putting in your offer to getting those keys in your hands.

There was a very interesting Money Box programme (broadcast 9 October on BBC Radio 4) that looked at what needed to be considered when buying a home from talking to the estate agent, lining up a mortgage, appointing a solicitor, ordering a survey, and some of the problems that might be experienced such as gazumping.

The two experts clearly explained the position on each of the steps to take, as well as providing their observations and experiences to illustrate the pitfalls.

One of the key issues highlighted was the underestimate of how much time it takes for initiating the homebuying process to completion day. Interestingly, interviewed experts pointed out that automation and use of computers and apps has not had the streamlining impact that was originally envisaged.

As they talked about the problem, what became clear is that there are four prime issues to be aware of:

1. Elapsed time - with the introduction of automated platforms, the length of time required for the conveyancing process has lengthened considerably. This is because the “deeds packet” associated with properties has been lost prior to automation, which means that each purchase has to start pretty much from scratch, making it far more complex and therefore slower. 
2. Gazumping - it's noted that the Scottish homebuying process is considerably tighter in large part because of the information required for a sale is provided up-front. Practically, this does away with a lot of the effort that their English and Welsh counterparts in conveyancing have to work through as a matter of course. And a natural offshoot from this is that gazumping (where a seller reneges on an agreement with you to take a higher offer from someone else) is far less common.
3. Referrals - quite often, prospective buyers are warned to be cautious (or even suspicious) of referrals for, say, a conveyancer or surveyor from other sources (most often the estate agent). However, the expert on Money Box suggested that it's perfectly reasonable to ask what fees the estate agent is getting for the referral and what it goes towards. In addition, they said, the estate agent will know the conveyancer and the quality and speed of their work, so it is an option.
4. Fees - the expert, when asked about whether all conveyancing is the same and, therefore, if it is, why you wouldn't opt for the cheapest, responded by saying that you get what you pay for. The cheaper option is most likely to result in a less focused service, while paying more will give the conveyancer greater options to provide an increased service on your behalf.

So, while much of the information is dizzying when it comes to buying a home, especially to the uninitiated (and those who have not been through it for some time), there are some key points to take forward:

• Do your research (on the availability of houses, flats and maisonettes in the area you want to move to) because getting onto the property ladder is possible and it's much easier to take the next step to the type of property you really want.
• Be prepared to compromise by highlighting your priorities and requirements and how important they really are to you.
• Look after your finances. Get a “mortgage in principle” sorted out as soon as possible as this gives you a head start when making an offer since it shows you are genuine and able to see the purchase through. And consider talking to a mortgage broker, as well as shopping around for your best mortgage deal.
• Appoint your solicitor as soon as possible and understand exactly what service you will be receiving for the fee they will charge you.
• Pick a solicitor who offers a “no completion, no fee” guarantee to protect you from any failures that might occur throughout the lengthy process, as well as shielding you from the expense that gazumping would otherwise cause you.
• Define exactly how and when you would like the communication with your conveyancer on progress. Some prefer a phone call, others an email. You might want a standard letter.
• Understand what the referral process means, so that you know that your interests are protected at all times.
• Don't be afraid to ask questions. As we've highlighted, the conveyancing process especially is a very complex process, which means misinterpretation or lack of understanding may lead to errors creeping in, which will add further time as they are being resolved.
• Understand the length of the chain and where you are in it. If it is particularly long, you might want to think of ways to circumvent that (for example, the purchase of your next home not being dependent on the sale of the current one).
• Understand the fee structure of any firm involved so that you know what you are being charged and what for. It'll also invite questions on how extras will be handled (e.g. a specialised flood report as part of the conveyancing process).
• If you are planning on using a firm to do the removals, talk to them early, in part to get an estimate that you can factor into your budget, but also to pencil in planned dates. Be sure to include them in any communication affecting the planned completion/move date.
• Be patient! It can seem that things are taking excessive time to happen. But if your communications plan is clear (and followed) you should be aware of the status at any point throughout.
• It's well worth listening to that Money Box programme for other pointers on all aspects of buying a home from mortgages to surveys, and moving from renting to owning your home.

You can listen to the full BBC Radio 4's Money Box programme on how to buy a house.

Whether you're a first-time buyer or a seasoned house-buyer, you'll want to at least ensure you have a focused and forward-thinking conveyancing solicitor to drive your transaction forwards for a fee that is value for money.

That's where you can rely on the experts at Homeward Legal! 

They will start work on your planned purchase as soon as you agree to the quotation and appoint them to represent you. 

Homeward Legal will also provide a quote that will not change - what you are quoted is what you pay for standard conveyancing process.

There are some unforeseen items that might arise during the purchase and/or sale, but the solicitor discusses these and their cost as they come up. 

In addition, to protect the homebuyer further, Homeward Legal operates a ‘no completion, no fee' promise, which ensures that, should the purchase or sale not go through as planned to completion status, no payment is required.

Call  to get your conveyancing quote started, or to discuss your concerns with your plans to move.

Or you can get a quick quote, using Homeward Legal's easy-to-use quote generator.