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What is the process in buying a home? Andrew and Andrew Solicitors Limited Looking for a new home is a rea l ly exc i t ing t ime, whether i t be your f i r s t , second or th i rd . Employ ing conveyancing so l ic i tors Emsworth could be what you need to make th is exc i t ing t ime an equal ly smooth and hass le- f ree one , as even the most seasoned homebuyer can end up running into complex surpr ises on a new purchase . The ro le o f conveyancing so l ic i tors Emsworth includes a l l the legal aspects o f t ransfer r ing the ownership of a property f rom a se l ler to a buyer . Conveyancing matters , because i t ’ s v i ta l to be sure of exact ly what you ’ re purchas ing in your new home, but more on that later , for now let ' s move on to the ear ly s tages . Let's break down the basics Fi rst th ings f i r s t , you need to f ind a property you can t ru ly a f ford . That means s i t t ing down and real ly breaking down income and outgoings . What is the maximum you can af ford on your mortgage payments? That ’ s when you take into account counci l tax , ut i l i t ies and a l l the added costs o f running a home - such as an emergency boi ler breakdown fund! You a lso need to take into account what would happen i f your income were to drop and inf lat ion or interest rates were to r i se , could you then st i l l make your monthly payments? And remember your hard-earned sav ings won’ t just be cover ing the cost o f your depos i t , but expenses l ike mortgage company fees and stamp duty . What mortgage is right for me? We would recommend looking for your mortgage as soon as you can , i t ’ s a lways worth apply ing and making sure you ’ re ahead of the game, as the process can be very t ime consuming . Mortgages are ava i lable through independent f inancia l adv isers , mortgage brokers or lenders . Once you ’ve appl ied for the mortgage that ’ s taken your fancy and been accepted ‘ in pr inc ip le ’ you ’ l l be to ld how much money the lender i s wi l l ing to g ive you . I t ’ s poss ib le you ’ l l need to pay a booking fee in order to reserve the mortgage you want whi ls t looking at propert ies . Now to the fun part You get to make an of fer - th is usual ly happens through an estate agent , but don ’ t worry normal ly you only pay an estate agent i f you ’ re se l l ing the property . Once the of fer has been accepted that ’ s when you ’ l l want to inst ruct your conveyancing so l ic i tors Emsworth . I t ’ s then thei r job to te l l you thei r ‘ terms of engagement ’ (how much they cost and any depos i ts ) they wi l l then contact the se l ler ’ s so l ic i tor to s tart exchanging draf ts o f contracts and any forms needed. And finally When you and your conveyancing so l ic i tors Emsworth are happy with the contracts and pr ice drawn up you wi l l f ina l i se your mortgage and af ter you ’ve rece ived a b inding of fer you wi l l be g iven seven days to double check th is i s the r ight mortgage for you . We would a lways recommend taking th is t ime to compare with other opt ions - i t ’ s not too late to change your mind. We hope by now you ’ve bypassed any problems or delays and that you ’ l l be ready to s ign the contracts , th is i s ca l led exchanging . Before s igning your contract ask your conveyancing so l ic i tors Emsworth to take one last look at the papers and then you are ready to s ign . http :a2sol ic i tors .co .uk/conveyancing/ https :www.sra .org .uk https :www.moneyhelper .org .uk/en/homes/buying-a- home/money-t imel ine-when-buying-property-england- wales-n- i re land Sources :
