Process of Buying a House (slideshow)
It’s surprising how many people that wish to buy a home don’t actually know the process of how to do it. At You Sell Quick we have displayed each stage in a helpful presentation. Not only that but we have provided you with some key advice that you need to know so that you can buy your home.
Before you endeavour to even search for your dream house it’s vitally important to check your credit report first. The lenders aren’t as lenient as they used to be and a default or a CCJ could make it very difficult to attain a mortgage for at least six years. You can check your credit report through Experian and it’s important to make sure your score is clean and at least “Good”.
Once your credit report is satisfactory and you have a deposit saved up, you need to apply for a mortgage in principle before you can actively look for your new house. From this you will know if the bank will approve you and also the value of house to look for. Go on a active search, find your desired house and hopefully the sellers will wish to sell their house fast so that you can make a good offer.
What you shouldn’t underestimate is the power for the surveyor. Your all important property transaction relies on his opinion. If the surveyor down values the house this can provide you with the opportunity to get a further discount in price but could also present you with a problem if the sellers are unwilling to lower the value to meet the surveyor’s opinion. The bank don’t want to pay more for a house than it’s worth and they will also require the home to be structurally sound.
The traditional way of buying is not a fast process and it will take around 3 months from finding the property through to completion. Many sellers are asking how can I sell my house quickly and there are now a variety of different ways that they can through the use of internet house buyers.
Feel free to download this Powerpoint presentation: Process of Buying a House (PDF)
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