EVERYTHING A FIRST-TIME BUYER SHOULD KNOW (Part 4)
Category Advice
You've signed the deal, paid the deposit, and your first home is almost yours. What final steps remain before you can hold the keys to your new home?
Buying a property is an awesome experience, but when you are a first-time home buyer, there is an extra special element of excitement and anticipation linked to the proceedings.
Everything about the journey sends tingling sensations of eagerness down your spine; equally matched by the slight intimidation of the unknown.
Yet, the reality is the last portion of the trip to first-time homeownership is actually the easiest path to walk - as the work is done for you by the transferring attorneys and people who are professionally aware of what is required to ensure your home is in your name.
WHAT ROLE DO THE ATTORNEYS PLAY?
Sellers appoint transfer attorneys to assist with the ownership change for a property. The attorney's duty involves interacting with the Deeds Office (the registry that holds the details for property ownership within the country) to transfer the home into the new owner's name and getting new title deeds reflecting that transaction.
The title deeds are critical in ensuring certainty of your ownership to the property you have purchased. The attorneys also co-ordinate with the banks to pay the seller once the process has finished and you are handed the keys to your new house.
WHAT HAPPENS NOW?
You relax and allow the attorneys to do their job - but keep your phone on hand and react as fast as possible when you are needed to read and sign the paperwork. You will be kept informed every step of the way.
Remember, the conveyancing attorney will do everything in their power to quickly and smoothly process the property's registration into your name. You help in that process by responding to their call equally as quickly. The sooner you finalise the outstanding legal paperwork, the sooner you can jingle your new house keys in front of your friends.
SOMEONE ALWAYS HAS YOUR BACK
Throughout this exciting time, you are never alone. You have the awesome real estate sales consultant who introduced you to your new home. They are also eagerly awaiting your call if ever you are slightly unsure of the next move.
LAST WORD
The first-time homeownership journey from finding the property that suits your needs to securing the financing; signing the deal and eventually receiving the front door keys to your new home is a thrilling adventure. Your responsibilities as the buyer at this point is simple - the waiting is virtually over and you only have to read and sign the papers. Meanwhile, plan your colour schemes, new curtains and any other modifications you have for the glorious years you will spend in your home.
However, remember this is a major step in your life; take the time to read the transfer documents. They are long and legal, but they are also binding and need your attention.Ask for help if you don't understand anything and do not allow anyone to rush you into simply signing without reading.
Author: Nicola Jenvey
