Spotted the Perfect Home for Sale? How to be Prepared for What Happens Next
Moving house: an equally stressful yet exciting time for all involved. The start of a new chapter, finding your dream home to live in is one of life’s pleasures. However, whether you are moving across the country, internationally or just down the road - it can always feel overwhelming with the amount of tasks that you have to complete. In fact, the lead up to moving is more complex than the moving day itself. Forget packing your belongings and trying to get from A to B, there are a range of legal processes that need to take place first before you kickstart your new life.
If you are buying your first home, or you simply just want a comprehensive guide to explain the house buying process in the UK, read on.
What to consider whilst at a house viewing
First and foremost, you have spotted your dream property; whether it’s in the window of an estate agents, online on a moving house website, or you have just walked past the for sale sign one day - seeing a house with potential is one of the most fun parts about moving. Yet, as the old saying goes, don’t judge a book by it’s cover. After all, you could get your hopes up, book a viewing and find that the house has a severe damp problem. Below are what you need to initially consider during a house viewing.
Though you may dream of having an idyllic house in the country, is this really viable if you have young children and you aren’t in any local school’s catchment areas? Alternatively, a city centre location may be practically sound but the thought of rush hour traffic may also fill you will dread. There are plenty of location specific questions to ask yourself when deciding on a dream home, and this should be one of your top priorities when looking around.
A key defining factor whether you purchase a home is undoubtedly the price. You may find that your idea of a dream home, may only actually be a dream as it doesn’t match up with your budget. Price and location also go hand in hand, for instance some parts of the country are much cheaper to move to, and you can get more for your money.
Whether you are lusting after a new build or a house with years of history, the condition of the home is vitally important to making a decision. For instance, as stated above, you may find your dream home but it has a persistent damp problem or it may have a low EPC rating, meaning that you could incur greater costs down the line for reparations.
You could have a house survey performed after you have seen the home or after you made an offer. You can choose to have a range of different house surveys performed, all at varying prices. The house surveys differentiate depending on the in-depth investigation of the home needed. For example, the cheapest house survey will only identify the immediate issues, whereas a more expensive house survey will provide a comprehensive report and will identify issues of varying calibres.
A house survey is vital as it allows a professional to take a deep dive into the home you want to buy, inspecting underneath floorboards, under carpets, in the roof, testing appliances and other structural issues. Not only will this illuminate you about the condition of the home you want, but also it can help you negotiate and go for a lower offer.
Find out how much you can borrow and make an offer
If you suspect that you need to apply for a mortgage to buy a home, it is imperative that you know how much you can borrow. There are a range of mortgage advisors you can speak to who can look at your earnings and advise you as to what your budget is, how much the deposit will be and potentially other fees that you need to think about like conveyancing fees, estate agent fees, mortgage repayments.
Once the seller has agreed on your offer, then you will receive a Memorandum of Sale to confirm this.
Find a house conveyancing solicitor
Once you have made an offer through the estate agent, and it has been accepted, then you need to find a conveyancing solicitor who can facilitate the conveyancing process for you. A conveyancing solicitor will liaise with the seller’s conveyancing solicitor to draw up and exchange the contracts. Plus, they will do a range of background checks on the home to ensure that the whole process runs smoothly.
Speak to your mortgage advisor and agree on a suitable mortgage that suits your budget and your salary. Perhaps you should consider whether you should protect your mortgage if the worst were to happen.
Finding a reputable removal company is important to making sure that all of your valuables get from A to B without a hitch. A removal company can help you lift heavy items, help with packing up your possessions, safely transporting your items to your new home in one quick and easy sweep, and also can be cost effective too. There are many ways you can find removal companies, from neighbour referrals to searching on the British Association of Removers you can find an accredited professional quickly and easily.
Exchange contracts and agree moving dates
Exchanging the contracts is essentially where your deposit will be sent to the seller’s solicitor along with the signed contract - making you legally bound to the purchase. Once this has taken place then you need to confer moving dates. This will depend on the property chain that are you are involved in - so don’t be surprised if you can’t agree on a date straight away.
Change addresses and contact relevant institutions
It is vital that you change addresses for royal mail, on driving licenses, schools, bank statements and other important institutions. This is so if you need to be contacted, your mail can be redirected to the right place. For example, you don’t want to get lauded with last month’s bills from your old home or not receive an important bank statement because it got sent to the wrong address. What’s more, also make sure to change or re-register with doctors, veterinarians, and dentists.
Andrew Lee Property Lawyers: Conveyancing Solicitors in Kent
If you are looking to buy and sell your residential or commercial property in Kent or the South East of England, our experts at Andrew Lee Property Lawyers can help. We understand that moving house is a stressful process for you and your family, whether you are a first-time buyer or an existing owner, we can help give you peace of mind and smoothen out the conveyancing process.
What’s more, we can also give advice on mortgages, property developers, property investors and to landlords. Our comprehensive services are second to none, and we also have a handy blog too answering frequently asked questions and detailing the latest news about conveyancing. To find out more about our services, or if you want to speak to a conveyancing solicitor about buying a home, simply contact us today.
