Furniture in Fashion Blog
Furniture in Fashion Blog
Furniture in Fashion Blog
What happens when you buy a house is one of the most common questions for all first time buyers. As a matter of fact, there are several different stages to a property buying process. To make sure every tiny detail is in order, and the whole red tape does not cause you any painful efforts, you should start with little things – that is, with a careful and objective evaluation of your budget. Do not forget that your savings should fully cover the first deposit, mortgage fees, solicitor’s fees and home survey reports (they are not obligatory, but you will have to order them if you want it stay 100% that the house is worth it), as well as some subsequent expenses, such as renovating, ordering new furniture , paying the movers – whatever they may be in your case.
If your savings seem to be enough, you should:
Talk to your bank
You should talk to your bank representative to make sure that you can be pre-approved for a loan. Also, it will give you a better idea on the price range you can afford. In most parts of the UK this advice is based on the common sense rather than on legal regulations. In Scotland, though, you will have to get loan pre-approval before you can start house hunting.
Start looking for a house in your price range
Based on you budget, you start looking for the houses you can afford. Do not rush into any conclusions – make sure you find what you really need before making an offer.
Make an offer
If you find the house you are interested in, you let the owner know. If he /she is also interested in you as a potential buyer, you start looking for a solicitor to represent you.
Hire a solicitor and order property reports
When you find a solicitor, he /she will start working on the contract. However, the majority of buyers order some survey reports first. While it is not necessary to order the full range (that is, structural survey, homebuyer’s report, and home condition survey), a building, or structural, survey can help you understand whether the house is worth its cost. The other two are of lesser importance, and can sometimes be omitted. Plus, the solicitor will also provide you with useful info on the future municipal works planned in the area – sometimes they can affect property value.
Get your loan
If all parties are satisfied with the survey results, and you manage to come an agreement with the owner, you should go to the bank and finalize your mortgage – that is, borrow the money you need to make a transaction.
Sign the deal
So, now you have the reports, the money, and the contract – the only thing left is to sign and transfer the money (this is usually done via your solicitor’s account).
Move in
After that, you can start taking care of the moving in preparations –whatever this may mean for you – cleaning the house, ordering new bathroom furniture , or simply packing your bags!
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