Step 1 - Arrange finance

How much can you borrow? Talk to Sherry FitzGerald Mortgages who can tell you in 24 hours how much finance you can raise and what the best deal on the market is for you. Get Approval in Principle as quickly as possible so that when you do find your ideal place, you don't lose out to someone else who is ready to go.

Step 2 - Start looking

Register with us so that we can help you to narrow your search. See as many properties as you can and make a note of the features that you like. Find out what exactly is included in the sale. Familiarise yourself with areas that appeal. Maybe stroll there in the evenings and at weekends. Check out local transport links.

Step 3 - Make an offer

Once you've found a property that ticks all the boxes and that is within your price limit, make an offer to the selling agent. They will put this offer to the seller. There are no legal obligations at this stage and you may withdraw your offer if you wish.

Step 4 - Look after the legals

Bring in the experts and appoint a solicitor to process the sale (also known as conveyancing). Don't forget that their fee may be calculated as a percentage of the asking price, or as a flat fee, so allow funds for this.

Step 5 - Pay a deposit

If you are going to proceed to purchase the property you will need to pay a booking deposit (usually 2.5% of the purchase price) which is refundable if you decide not to proceed with the purchase prior to contract signing. The remaining balance of the deposit will be payable at a later stage.

Step 6 - Sale agreed

If your offer is accepted on a second-hand home, you will receive written confirmation of your intention to buy from the estate agent. This information is also sent to your solicitor and the vendor. The document will outline the agreed purchase price, any conditions of sale, the estimated closing date and contact details of all parties. In the case of new homes and new apartments when the booking deposit is paid, the builder's solicitor forwards copies of the contract and the title document to your appointed solicitor.

Step 7 - Surveys & Snags

Before your mortgage can be drawn down your lender or bank will need to know that the property is in good order and that it is worth the money you are paying for it. So you will need to have a valuation survey done. The lender or bank may appoint their own surveyor. In the case of new homes and apartments you should arrange for an architect or surveyor to carry out a snag on the property (an inspection of minor defaults) so that they can be rectified.

Step 8 - Finalise the finance

A 'Letter of Loan' offer needs to be obtained from the lending institution before final contracts are signed. A direct debit mandate must also be completed before the loan is released. Your Sherry FitzGerald Mortgages advisor can help you with all of these final financial hurdles. If all parties are happy with the survey and conditions of sale, you will be asked to pay the remainder of the deposit (usually 7.5% of the purchase price).

Step 9 - Contracts signed & exchanged

Your solicitor will now invite you to sign unconditional contracts - no going back now! Don't worry, your solicitor will have examined the contract and title document to make sure that everything is in order before you sign. For second-hand homes, the signed contract is sent back to the vendor's solicitor for signing by the vendor. A copy is then returned to your solicitor creating a binding contract. A completion date and the handing over of keys will be agreed at this stage. In the case of new homes and new apartments, once the contracts are signed (usually at the office of the builder's solicitor) the title documents are presented to your solicitor on receipt of the balance of the purchase price. The property is then transferred into your name. Your solicitor will also send a copy of the title documentation to your lending institution for safekeeping.

Step 10 - Completion

This can take anywhere from a few days to a few months - depending on the personal requirements of the seller and/or buyer or legal formalities. The remainder of the purchase price (usually 90%) is now transferred from your solicitors account, into the seller's solicitors account.