Understanding the House Buying Process

Posted June 27, 2022 by in Lifestyle
couple holding up keys after buying a house

Buying a house is likely going to be one of the biggest things that you do in your lifetime. While this is extremely exciting, it can also be very overwhelming. The house buying process is filled with complicated legal jargon to navigate, as well as a plethora of tasks such as reading and signing paperwork, packing up your home, and much more. It can therefore be helpful to understand the house buying process to equip you with the tools and knowledge that you need for your sale to go through smoothly. 

Here are some of the most important steps in the house buying process that you need to be prepared for. 

#1 Your finances

Your finances are the most important step in the process. Without having sufficient funds, or gaining pre-approval, you cannot move forward in the house buying process. First, you need to determine how much you can afford. Not only does this include the deposit for the house, but also the solicitor’s fees, the moving fees, searches on the property, local taxes, furnishing the property, and paying the bills on the property once you move in. You will need to speak with a mortgage advisor, who will check your funds and your affordability to ensure it is possible. You will have to go through a credit check and obtain a pre-approval certificate. This will be required by the real estate agents before you can make an offer. 

#2 Work with a real estate agent

A real estate agent will be able to provide you with house listings so you can find your perfect property. They are experienced in buying houses, so they will be able to help you find the right property and location to suit your needs. They will also be able to assist with negotiations and the rest of the buying process. You can just phone or walk into any real estate agent to get started. 

#3 Enlist the help of an attorney 

An attorney is going to be invaluable throughout the house buying process. They will check the legal registration with the property, and conduct searches that will tell you if there is anything wrong. They will also review the contracts sent over from the seller, and ensure your best interests are always at heart. Buying a house has a lot of legal processes to follow. You are not expected to learn all of these, providing you have the guidance of an attorney. They will be with you from the start, all the way until you sign the contract and pick up the keys.

#4 Moving house

You are not always going to know far in advance when you are going to be able to move house. However, you are going to have to think about how you are going to navigate the move, especially if you are selling your home. If you are selling your home, you are going to have to co-ordinate moving out, with moving into your new place. Your solicitors will be able to assist you with this. You should also think about how you are going to furnish the home, whether you want to move in right away or if you plan on doing any renovations, and choosing packing & moving services to help you on the day. This will all need to be organized in advance so that you can coordinate a smooth move, and prepare any alternative accommodation if necessary. 

Moving house can feel scary. When you understand the process, it can help make the journey much smoother, so you can enjoy it more.