What to Look for When Buying a Property as a First-Time Buyer

In this episode of Listen Without Prejudice, we’re unpacking an exciting topic: what to look for when buying a property.

Mark Chick, Senior Partner at Bishop & Sewell, sits down with Charlie Davidson, Senior Associate in the Residential Property team, to discuss the essential steps of buying a property.

Mark and Charlie walk us through the steps in the conveyancing process, from the moment you first set eyes on a house to the joy of transitioning into homeownership. They go on to explain how to get your finances in order and protect your interests before you start the buying process, touching upon the implications of family financial support. Mark and Charlie also highlight the importance of clear and written communication to ensure clarity and avoid unnecessary conflicts among all parties involved.

Charlie also explains the crucial role of a conveyancer, not only in managing the financial side of property purchases but also in providing you with peace of mind throughout the entire process. Finally, they cover both practical and legal considerations that must be addressed before exchanging contracts, along with extra tips for finalising the entire process and enjoying this new and exciting part of your life.

Whether you’re anxious about buying your first property or you just want to equip yourself with as much information as possible beforehand, this episode is for you! Join us for lots of practical tips that will help you navigate this journey with confidence.

Chapter Markers

[1:17] Introducing the subject and general mindset about homeownership for beginners

[2:30] Basic steps to cover once you’ve found the property you want to buy

[3:25] Ensuring clarity in property transactions

[7:06] Steps to take after an offer is accepted and the crucial role of a lawyer during this stage

[8:31] Managing the uncertainty in property transactions and the importance of legal guidance and due diligence to secure your position

[12:14] Managing family financial assistance in property purchases

[16:06] The importance of clear communication and formal agreements in property transactions

[17:20] Practical considerations of conducting property evaluations

[21:28] Legal considerations before exchanging contracts

[24:50] Navigating the final stage of the property buying process

[30:08] Transitioning into homeownership with peace of mind