So – you've decided to buy a house. Congratulations! Don't celebrate just yet, though, as the hard part is only just beginning. Luckily, we're here to give you an idea of what's to come with our rundown of the process of buying a house. We've even documented the process in our On The Ladder series here.
When you view a house, you're probably looking at the bigger picture. Can you imagine yourself living here? Is it spacious enough, is there lots of natural light, or are there broken-down washing machines and old tyres littering the neighbour's front garden?
Sorry to break it to you, but conveyancing fees are unavoidable in the home buying process. Knowing exactly what you’re paying for can make coughing up a little less painful, so read on to discover what you’re actually getting for those hefty conveyancing fees.
Most house purchases in the UK are part of a chain. You can look at property chains as a necessary evil. They’re frustrating, delay-causing and sometimes cause the transaction to fall through – but most of us wouldn’t be able to move house without one.
When buying a property, ensure that you factor in the cost of Stamp Duty before purchasing. Believe me! After our offer had been accepted and we'd instructed the conveyancers to oversee the purchase process, we were sent a breakdown of their costs. Legal fees, transaction fees, drainage and water searches were all there. Honestly, they don't miss a trick! Yet, the figure that jumped out at us was our Stamp Duty costs. Let me explain why.
Before you exchange contracts on that dream home, the local authority searches must be carried out. These are a necessary part of home buying, and woe betide anyone who skips them. But do they really have to take so long?
When you're just starting out on your homebuying journey, it's common to be a little naïve about the process. You might think that so long as you play by the rules and get an offer accepted, you should be able to secure your dream home.
When it comes to home buying, the wheels of progress don't always turn as quickly as we'd like. But can you blame it all on a slow solicitor? Before you fire off another angry email, let's meet the real culprit behind all those mysterious delays – the chain.
A property sale falling through can elicit some pretty strong emotions from the most level-headed among us. These can range from disappointment to downright rage. But the worst part? You've probably lost around £2,500 in the failed transaction – the average amount that sellers lose on a house sale that falls through.
So, how long does it really take to move house? If you’re the efficient type, you might think you can get it done and dusted within a month. After all, how long can it really take to arrange a few surveys and get some documents approved?