{"id":8509,"date":"2015-04-14T10:48:13","date_gmt":"2015-04-14T14:48:13","guid":{"rendered":"https:\/\/www.furnitureinfashion.net\/Blog\/?p=8509"},"modified":"2018-11-21T12:34:08","modified_gmt":"2018-11-21T12:34:08","slug":"buying-a-house-process-money-timeline","status":"publish","type":"post","link":"https:\/\/www.furnitureinfashion.net\/blog\/buying-a-house-process-money-timeline\/","title":{"rendered":"Buying A House Process \u2013 Money Timeline"},"content":{"rendered":"

Everyone knows that buying a house is a long and expensive process. Yet, not everyone realizes that apart from the property cost, there is a set of other expenses. Without them, it would be simply impossible to go through the complete process. The detailed buying a house process \u2013 money timeline typically goes as follows:<\/p>\n

\"Buying

 <\/a> Buying A House Process \u2013 Money Timeline<\/p><\/div>\n

Estimating your budget<\/b><\/p>\n

Even before you start looking for the house of your dreams, you should carefully evaluate your budget and figure out what you can afford. Your savings should be enough to cover the first deposit and the mortgage fees, which may be as high as\u00a0 \u00a32000. Then, you should check your credit report and talk to your bank representative \u2013 he\/ she will be able to tell what mortgage plans you are eligible for (the consultation is free).<\/p>\n

Making your offer<\/b><\/p>\n

After that, you can start looking for houses. If you find something you like, you can make an offer. The offers are typically made via real estate agents. As a rule, agents represent sellers and, consequently, sellers pay the fees. If you want to hire a buyer\u2019s representative, which is not necessary, you will be the one paying for your agent\u2019s services.<\/p>\n

Hiring a solicitor<\/b><\/p>\n

While hiring a buyer\u2019s representative is not necessary, hiring a solicitor is. He \/ she will be the one evaluating the property, checking if there may be any issues, undermining the property value, and so on and so forth. An average solicitor\u2019s fee is \u00a3500-1500. Plus, after closing the deal, the solicitor will charge you 10% of the fee in advance. Typical property survey may cost up to \u00a31500, and it includes building survey (minimum \u00a3600), homebuyers report (\u00a3400 and more), and home condition survey (about \u00a3250). All of them can be ordered separately.<\/p>\n

\"Buying

 <\/a> Buying A House Process \u2013 Money Timeline<\/p><\/div>\n

Finalizing the deal and the mortgage<\/b><\/p>\n

If you are ready to buy, you will have to contact your bank and finalize your mortgage. Some lenders do not charge any mortgage fees, while other companies require an up to \u00a32000 upfront payment just for finalizing your mortgage.<\/p>\n

Going through the contracts<\/b><\/p>\n

The representatives exchange contracts that have to be carefully reviewed. Plus, you might be asked to place a deposit (up to \u00a31000) to prove that your intentions are serious. If you do so, ask for the house to be taken off the market for the time of revising the contracts \u2013 otherwise, a more generous buyer may outbid your offer.<\/p>\n

Transferring money<\/b><\/p>\n

Total house value is transferred through your representatives. This is almost free \u2013 apart from a small \u00a325-50 bank transfer fee. Plus, do not forget about the solicitor\u2019s fee \u2013 you will pay them at this point.<\/p>\n

Moving in <\/b><\/p>\n

Apart from the moving company services, ranging from \u00a3300 to \u00a3600, moving in is technically free. Yet, if there isn\u2019t any furniture for you to move, you will still have to consider your future interior. At the very least you are going to need some kitchen equipment and a bedroom collection <\/a>. Those are the bare essentials, and the price range on them will mostly depend on the store <\/a> and your own preferences.<\/p>\n","protected":false},"excerpt":{"rendered":"

Everyone knows that buying a house is a long and expensive process. Yet, not everyone realizes that apart from the property cost, there is a set of other expenses. Without them, it would be simply impossible to go through the complete process. The detailed buying…<\/p>\n","protected":false},"author":4,"featured_media":27874,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[97,105],"class_list":["post-8509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-money","tag-timeline"],"acf":[],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.furnitureinfashion.net\/blog\/wp-json\/wp\/v2\/posts\/8509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.furnitureinfashion.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.furnitureinfashion.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.furnitureinfashion.net\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.furnitureinfashion.net\/blog\/wp-json\/wp\/v2\/comments?post=8509"}],"version-history":[{"count":0,"href":"https:\/\/www.furnitureinfashion.net\/blog\/wp-json\/wp\/v2\/posts\/8509\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.furnitureinfashion.net\/blog\/wp-json\/wp\/v2\/media\/27874"}],"wp:attachment":[{"href":"https:\/\/www.furnitureinfashion.net\/blog\/wp-json\/wp\/v2\/media?parent=8509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.furnitureinfashion.net\/blog\/wp-json\/wp\/v2\/categories?post=8509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.furnitureinfashion.net\/blog\/wp-json\/wp\/v2\/tags?post=8509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}