Want a Hassle-Free Move? These Tips Are Right For You
You can’t be happier upon hearing that your purchase offer has been accepted by the seller. Finally, and at least in principle, the dream house will be yours, as long as things work out fine. Once the seller accepts the offer, ask them to take the property off the market so no one else can outbid you. If you can, have them put it in writing. If you’re buying from England, accepted offers are not legally binding, compared to Scotland. You might want to be wary of sellers who continue marketing the property in hopes of getting a higher offer, even if they already agreed to yours. If this happens (and you’ve been gazumped!) it’s going to be more expensive for you as a buyer.
Moreover, if you’re keen on making things worry-free, from having your offer accepted to completing your purchase, these tips are going to be very helpful to you.
Get the paperwork organised.
Sales are often significantly affected by waiting. Sellers get cold feet if they feel that they have been waiting too long for the ball to start rolling, so make sure you plan things accordingly and get your documents organised ahead of time. It will be helpful to keep track of the paperwork requirements on your end from your mortgage application form to the rest of the documents.
Always factor in the fact that your mortgage lender will need at least a valuation to determine how much you can borrow, so don’t forget to sort out the document for this. Also, if you need to carefully inspect the house for issues, organise a survey at the soonest possible time.
All of these need careful budgeting and organisation of paperwork and you’re better off sorting them out early on.
Exchange contracts diligently.
This is the point of no return for you. Otherwise, it’s going to cost you money and legal trouble. Having received the survey results, renegotiated your offer, and received your formal letter from your lender, contracts should be signed and exchanged by you and your seller through your respective conveyancing solicitors.
Once contracts are exchanged, you will have to arrange for the property’s insurance (building and content). If you have one in your old property, infirm your household insurance company of your move so changes can be made with regard to the policy.
While completion dates depend on how fast the conveyancing process is carried out, set yourself at least an estimated date of completion. Anticipate, on the average, a two week window from exchange to completion, though it is now possible to exchange and complete on the same day, depending on how well you coordinate with all parties involved.
Because funds are often transferred from bank to bank, you can expect to collect the keys to the property in the afternoon. Your conveyancing solicitor should be in charge to oversee this.
Pack and move.
At least during the exchange of contracts (and if you’re not looking to complete on the same day), organise things with the removal company of your choice. At this point, you should already have packed most of the things you will need, except for what you need on a day-to-day basis.
You might want to use a removal company that is registered with the British Association of Removers. Most removal companies provide boxes for packing, but always ask for extras, you will inevitably need them.
Panic serves you no good. Make sure you have a list of things to tick when you movie so you won’t forget anything. More so, staying calm and organised will help you in terms of making all the other arrangements in your new home - mail forwarding, services relocation, cancellation from your previous location, etc.