Home Buying Process Simplified

For a first time home buyer, the process of buying a home in London can be exhilarating and daunting at the same time

. Read on to know more about the entire process, and you will be better prepared to buy your dream house.

First things first. Have a realistic look at your finances, plan it well. This is the most important thing when it comes to buying a property. Depending on your income and expenses, figure out how much disposable income you have. Then you need to settle for a mortgage which will allow you to repay it at your own pace and convenience without the repayment amounts becoming a burden.

After this, make a list of your requirements, like the number of rooms and bathrooms you need, car parking, garden, the extent of traffic noise you are willing to bear, schools, supermarkets and recreational facilities in the vicinity, and other preferences such as an old home or a new one, town or suburbs etc. Then you can contact a reputed real estate agent in London who will help you find a property that will match your criteria and budget.

Once your real estate agent in London has short listed some properties, you must start the process of arranging your mortgage so that you can make an offer. Your real estate agent can help you with that as well.

You will now need to contact a conveyancing solicitor who will examine all the legal aspects of the property you intend to purchase and will also advise you regarding the offer you make to the seller. The solicitors fee is generally a specified percentage of the sale price and might include Land Registry Fee and search expenses.

Your real estate agent in London will also be able to advise you regarding the prevalent prices of property and how much you can negotiate with the seller. Make an offer to the seller after consultation and get a written confirmation from the seller that he has accepted your offer. You must remember that this is not a binding contract. The seller is free to accept a higher offer.

A survey of the property can help you determine the condition of the property. Depending on the results of the survey, you can change your offer or even withdraw it if the property is not good enough. You cannot demand a refund on the survey, though.

If you find the property good, you can proceed to the exchange of contracts. Your solicitor and the sellers solicitor will draw up the final contracts. Once both of you sign these, the sale becomes legally binding. You can now take the keys to the property.

Then it is for you and the seller to decide the date when the funds will be transferred from you to your solicitor and then to the sellers solicitor. Make sure that you have completed all formalities for the insurance of the property as well.

Now what remains is to have the heating, lighting and phone connection in place. Remember to inform the Post Office about your new address. You can get professional movers to help you move into your dream house.

by: Anupa22

POST COMMENT

5 Reasons You Need Professional Home Builders How To Make Your Home Fresh And Clean With The Clever Use Of Cleaning Tools Let Remodeling Contractors Help Increase The Value Of Your Home Psyllium Husk Dietary Fiber Benefits For Diabetes, Cholesterol, And Gastro Digestion Creating The Perfect French Atmosphere With The Right French Home Accessories Home On A Saturday Night Is Good! Here Is A FREE Gift For You! Deciding On That French Home Accessories Call A Plumber For Your Root Problem Laminate Flooring: The Greatest Innovation In Home Renovation How To Find The Best: Furniture Work at Home Jobs Best Work-At-Home Solution for Moms Wireless Doorbells & Wireless Door Chimes