New Gaming Rig Check it out

Hey I am new to PC gaming this is my system so far i need to know if all these parts are going to work.

 Motherboard - ASRock Z77 Extreme4 Motherboard - Intel Z77 Chipset - Socket 1155

 CPU - Intel Core i5 2500K Unlocked Quad Core Processor - Socket LGA1155 - 3.3GHz

 CPU Cooler - Cooler Master Hyper 212 EVO - 120mm Cooling Fan

 RAM - G.Skill Ripjaws-X 8GB(2x 4GB) Memory Kit - 240pin DIMM - PC3-17000 - 2133MHz - CL11-11-11-30-2N - 1.5v - Unbuffered - Non-ECC (F3-17000CL11D-8GBXL)  I am not sure if this ram works for the system please tell me.

 Video card - Sapphire Radeon HD 7850 Overclock V2 Video Card - GDDR5 2GB 256-bit - 920MHz / 5000MHz Clocks - 2x DVI, 1x HDMI & 1x DisplayPort - AMD CrossFireX Ready - AMD HD3D Ready - AMD Eyefinity Ready

 PSU - Thermaltake TR2 700 Bronze 700W TR-700PCAU Power Supply - ATX / EPS - Silent 12cm Fan - Active PFC - 80 Plus Bronze

 HDD - Seagate Barracuda 7200.14 3.5" 1TB SATA 6.0Gb/s 7200RPM 64MB Hard Drive

 SSD - Kingston HyperX 3K 2.5" 120GB Solid State Drive (SSD) - SATA III (SH103S3/120G)

 Case - NZXT Tempest 410 Elite Midi Tower Case - 3x 5.25" Ext. & 8x 3.5"/2.5" Int. HDD Bays - 7x Expansion Slots - Cooling Fans - Steel & Plastic - Black (8C-T4NL2-WWB) 

Please tell me if there is anything wrong with this system.

Thanks 

Sounds like a solid system, is this your first build?

Yeah this will be my first build.

Have you already ordered and what is your overall budget?