Steps involved in buying a leasehold property

It is a very fulfilling situation to finally buy a home for yourself, what is more important is getting a home where you will be peaceful, free from leasehold scandal. To achieve these, you have to follow some steps that will be your guide to the whole process. Here are some steps that will guide you through;

Find a house you can afford.

This is the most tedious but still the most important part, you cannot buy something you have not identified, check out the most important things like cost, affordability is very crucial, you will be more comfortable when living in a house you can afford without strain. Also choose the right mortgage and check your credit report.

Make an offer.

The next step after you have identified a house to buy is to make an offer; this is made commonly through an estate agent

Get a solicitor and a surveyor

A surveyor will be responsible for surveying the property on the ground checking the faults which will probably affect the price during negotiation, and if the house is involved in a leasehold scandal or not.

A solicitor on other hand will be handling your legal issues and advice you on how much you will need to pay.

Finalize the offer and mortgage

Once you are done with the steps above, you can now go back to your negotiation. The surveyor will have given you an update about the situation of the house and hence you know how to bargain on the price.

If everything goes through well and you are satisfied you can then contact your mortgage advisor, once you choose the right mortgage.

Exchange contracts

At this stage you with the seller can get the commitment and get through the agreement.

Complete the final steps

In this stage you will have to make all the payments agreed on and go on with the signing.

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