Moving home can be one of the most stressful events of many people’s lives. From the paperwork, to organising your finances, there are many things to keep on top of and it can easily become an overwhelming process.
Whether you are buying or selling your property, here are some steps you can expect as you navigate your way to your dream home.
Planning on selling your home?
The process of selling a house takes around two to three months, on average.
Firstly, if you have a mortgage, you will need to speak with your mortgage advisor to find out the outstanding balance and let them know whether you wish to purchase another property.
In the case of buying another property, you may be able to take your mortgage with you, which is when you ‘port it’.
Planning on buying a home?
If you are taking out a mortgage, then you will need to find out how much you are entitled to borrow, which depends on factors such as your credit rating, income, as well as the deposit that you intend to put down.
Before you consider buying a new home, it is important to have a budget in mind and to know what you can afford.
Whether buying or selling, find the right legal help
As buying and selling a property is a legal transaction, you will need to enlist a solicitor to deal all with the paperwork relating to the sale, including the transference of ownership and the exchange of contracts.
Both buyer and seller will be given a completion date following the exchange of contracts and money will be transferred to the seller.
What is conveyancing?
Conveyancing is the legal transfer of homeownership from the seller to the buyer and the process starts when the offer is accepted and finishes when they receive the keys.
What is a legal conveyancer?
A legal conveyancer is trained to deal with various aspects of property law.
Once an offer is accepted, the conveyancer will deal with the purchase and transfer of the property.
If you need help or advice on related matters, then speak to our property law experts today.