how do i buy a property, ie view, agree price then what other costs are involved?
December 22nd, 2009 by admin
No related posts.
3 Responses to “how do i buy a property, ie view, agree price then what other costs are involved?”
Comments are currently closed.
With solicitors fees, you have their profesional fee, plus vat, miscellaneous fees, plus vat, and land registry fees, and search fees. Depending on if your a first time buyer, you could have stamp duty charges. Haggle with your solicitor about their professional fee, thats the only one you can almost control. I wouldn’t give them anymore than 1100 plus vat.
Valuation fee with the bank, which is refundable if you kick up. around 150
Structural surveyor, anything up to 500e, but can get cheaper.
Deposit for the house in the auctioneers, depends what they want, i bought my house for 175K and they wanted 3.5 in the auctioneers.
ring every solicitor in the book til you get a price your happy with. You’lll also need a ’10%’ deposit for signing of contracts, but you can negotiate this with the vendors. Ask them to accept your auctioneers deposit as a booking deposit, although with the current climate, not many vendors may accept it
Land reg fees you can’t negotiate
Valuation is the set price by the relevant bank
Structural you can negotiate with the engineer.
Happy house hunting.
you get a real estate agent to represent you-shouldn;t cost you anything for that – he/she will be able to answer all you r questions and help you find houses
ok so you first of all need to find the property, do this by looking on the internet at local estate agents sites or by looking through the local paper and by going into the estate agents and asking what properties they have avaliable, they will probably put you on a mailing list to keep you informed of up and coming properties.
Once you have found a house that interests you, call the agency and ask to arrange a viewing on the property, they will then organise a time and date with you.
After your viewing you should think about whether or not you are interested in going further with the house and if so you contact the estate agents and tell them you would like to place an offer on the house.
The estate agent will negotiate with yourself and the vendor (person selling the property) to see if a price can be agreed upon!
Once the price is agreed you need to appoint a solicitor who will then carry out all the necessary paper work and checks to complete the sale of the property!
Solicitors costs do vary dramatically so it is a good idea to ask the estate agent if there is any solictor locally that they would recommend and you can always call up local solicitors and ask for quotes!
If you require a mortgage it is a good idea to have an appointment with an advisor to see realistically what price of property you go for. Go to a few different mortgage advisors as they differ in what deals they can offer you.
If you are having a mortgage you have to pay for a survey which means a valuation will be placed on the property you are purchasing to ensure that the property will hold its value as a safety check for the lender.
Once the solicitor on your side and the vendors side are happy, an exchange and completion date will be set! Exchange is when the contracts are exchanged so you will have to sign them prior to this and completion is when all the monies get sent and you can have the keys!
A good website for looking at properties is, you can search the area you want too!
Good luck in your search xxx