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Buying a House: Put in an Offer What Comes Next??

So you have put in your offer, now it's just a waiting game. The estate agent will call you back whether or not the owner accept or reject your offer. Don't be too hard done by if they reject your offer, as a rule of thumb always offer your lowest price and go up. You may find that the owners will meet you half way, between your starting offer and highest. For me and Bruce our first offer was rejected but we agreed a middle offer.

By now you should have your offer accepted. But don't feel pressured into it, if they are not willing to go down don't agree if it is out of your price range. Remember if its not in your price range then it will be more of a struggle to get a mortgage and have money left over for furniture. Offer accepted it's time to talk to your mortgage adviser again and apply for a mortgage. The application for a mortgage can be a long one. For us it was two weeks with an additional week added on top due to changing mortgage providers. The mortgage process is a little confusing and I would definitely consider an adviser as it takes the pressure off, also they provide you with other companies which may be able to offer you more. For us we applied to Nationwide which two weeks later turned us down, this was due to a few reasons including credit score and lack of bills. We then applied to Halifax which accepted us. This process is a little long winded but if you are turned down by one provider there are always others that may take you on.

Mortgage sorted no the legal stuff. This part is very expensive and take a lot of thinking. You first need to get a solicitor to help correspond to the sellers solicitors the legal turn over of the property. When working with a mortgage adviser, they will provide you with trusted solicitors which makes the whole hunting for a good one less daunting. Depending on the mortgage providers you may have to have a survey done to the property. These reports will help point out issues with the property such as damp and structural issues. These are a really good idea to do as you can find out these issues yourself even if your provider doesn't need it.

Leaving all the legal stuff to the solicitors is a load off your plate and gives you time to go furniture hunting and start buying all those little bits that make a house a home. One of the very useful things that get done is a Home Buyers Report. This report is an in depth look into the property as well as the local area. It looks at historical flooding and even does risk assessments to the property itself such as banisters and windows. These assessments help you gauge what you might need to improve, replace or consider. Though some for me and Bruce were a little redundant as the banisters were a risk to life due to if a baby fell through. We don't have kids yet so it wasn't a big deal for us. But it does help you out if the find damp as if it is bad enough you could try to get your offer reduced as you will have to foot the bill.

This legal part takes a lot of time but don't fret, this is the time when you can start planning your furniture and buy the little bits. As well as sorting out and working out your finances when you have made the move.

Stay Tuned for the next instalment all about the exchange and keys!!

Stay Gorgeous

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