How to avoid problems when buying a house?

PKRIYAT

Hi, I am planning to buy a house so what should I do, I mean to say what types of problem will have to faced when I will go for buying a house. Please help me if you have any idea or information.

Sjassi

You need atleast £2500 for solicitors fees and normally 10% deposit
The solicitors fees will include stamp duty and searches they have to get carried out as long as stamp duty is just 2%

You need to find out if you can get a morgage first by visiting an independent broker or morgage advisor at an estate agents. They will charge around £500. They will let you know who will approve you etc then once you have found a property for up to the amount they say you can borrow they will do the full application

elverson

Read this first

http://www.moneysavingexpert.com/mortgages/house-buying-guide

Out,_Vile_Jelly

Be sure to check whether the vendor may need to use the garden for dog burials at a future date.

lincroft1710

Be prepared for stress, disappointment, blatant lies, tears, frustration, unexpected expense, delays, being inconvenienced, having your time wasted, unreasonableness etc.

anto164

you may not find a house you like?

ED2

lincroft1710 wrote: »

Be prepared for stress, disappointment, blatant lies, tears, frustration, unexpected expense, delays, being inconvenienced, having your time wasted, unreasonableness etc.

And expect to experience the worse side of humanity, for some reason many people can't sell or buy a house without acting like barbarians.

tomatta

ED2 wrote: »

And expect to experience the worse side of humanity, for some reason many people can't sell or buy a house without acting like barbarians.

This scares me. I've agreed a price on a house and have quietly went about getting everything on my end done. The vendors haven't found a property yet so I guess this is when the shenanigans will start!

hazyjo

tomatta wrote: »

This scares me. I've agreed a price on a house and have quietly went about getting everything on my end done. The vendors haven't found a property yet so I guess this is when the shenanigans will start!

Should never spend anything until the chain is complete. Anyone who advised you otherwise need to give their head a wobble. Bad advice.


Jx

tomatta

hazyjo wrote: »

Should never spend anything until the chain is complete. Anyone who advised you otherwise need to give their head a wobble. Bad advice.


Jx

Haven't spent anything thankfully! What I meant was that my solicitor is poised to go, and my broker only gets paid on completion.

ED2

tomatta wrote: »

This scares me. I've agreed a price on a house and have quietly went about getting everything on my end done. The vendors haven't found a property yet so I guess this is when the shenanigans will start!

Wasn't my intention to scare and I'm being sarcastic.

Some people do get a bit weird though, and a lot of mistrust can go around.

I've also been getting my end of a purchase done and the vendors haven't despite their promises to. I then had to threaten to back away and the agent seems to be now really trying to get the vendors to comply.

And this sort of thing is typical really. It doesn't mean that you or I are going to lose the house, but this is why grown adults need solicitors and laws, some people just can't go about a transaction in a reasonable fashion.

Its best to not consider the house yours until you have the keys in hand. By all means do your end of things, but have a back up plan also. And aim to spend as little money as possible up to the exchange. You're going to have to pay a surveyor and solicitors fees (no win no fee will still incur charges if they start doing searches), just work out as best you can whether the seller is genuine and remember the EA needs the sale also.

I have a list of houses to see if this one falls through, and will keep compiling that list right up to the point of exchange.