6 Steps To Take For A Smooth Home Purchase

Buying a house can be full of difficulties

Buying a house can be full of difficulties. However, it can also be pretty straightforward if you have done your research and consider taking the following simple steps:

1. View the property on more than one occasion

Before making an offer on a property, it is always important to consider whether or not the property is right for you. Do your research and don't just rely on one viewing. Seeing a property in daylight, when you have previously viewed it at night time, can show up all sorts of problems.

2. Resolve the structural defects before you move into the property

It is not uncommon for a Homebuyers Report or structural survey to reveal defects, particularly with older properties. When this happens you should speak with the surveyor regarding these and ask them to obtain quotations to remedy the defects. If in your opinion the cost of the work is substantial you may wish to consider re-negotiating the purchase price with the seller. If you need a survey, your property solicitor should be able to give you the name of a qualified Chartered Surveyor.

3. Check with your mortgage company if you want to rent the property out

If you have a mortgage then you cannot normally rent a property without the permission of your lender. They will normally only consent to this provided that a proper tenancy agreement is entered into which adheres to their requirements.

4. Don't assume that the council tax for the property will remain the same.

It is possible that if there have been extensions to the property since the last valuation then your Council Tax could be re-valued following completion. You might end up with a higher bill.

5. Make sure you tell your solicitor if you have plans to extend the property

It is often assumed that only planning permission and building regulations approval is required for any proposed extensions. However, if any building work is within a certain distance of the boundary to your property then you will need to comply with the Party Walls Act and serve the appropriate notices on your neighbour. Furthermore you should check if there is a restrictive covenant against your property which may prevent such work being undertaken or may require you to obtain the consent of a former landowner such as the developer. If you are considering making alterations to the property, then you should inform your solicitor who will be able to advise you on the possible issues.

6. Make sure that you take independent financial advice regarding the purchase It is sensible to speak to an independent financial adviser (IFA). They will be able to advise you on the most suitable way to finance your purchase. They can also advise you on the most suitable and competitive mortgage to meet your needs. There are more than 30,000 mortgage products out there. A true Independent Financial Adviser will survey the whole of the market to find the mortgage or financial product which is right for you. Your conveyancing solicitor should know of a local independent financial adviser who will offer this service.

Above all appointing experienced local property solicitors is essential. They will be able to offer you advice on any of the above issues, which, if you follow and ask sensible questions, will help you have a stress-free purhcase.

by: Tim Bishop

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