youngsRPS Residential Brochure - Flipbook - Page 12
What costs are involved in selling a
house?
As a seller, you’ll need to budget for estate agent fees,
legal fees, and potentially the cost of an Energy
Performance Certificate (EPC). Don’t forget about
removal costs and any expenses related to getting your
property ready for the market, like repairs or minor
renovations.
How do I handle offers?
When offers start coming in, it’s important not to rush.
Consider each offer carefully, not just in terms of price
but also the buyer’s position. Are they part of a chain?
Have they been pre-approved for a mortgage? Your
agent will help you negotiate the best possible terms.
How long does the buying process
take?
On average, buying a house can take anywhere from 8
to 12 weeks from the moment your offer is accepted.
However, this timeline can vary depending on factors
like the length of the property chain and legal
complexities. Stay in touch with your agent and
solicitor to keep things moving smoothly.
For Buyers: How do I know how much I
can afford?
Before you start browsing dream homes, it’s essential
to understand your budget. A good rule of thumb is to
get pre-approved for a mortgage. This will give you a
clear picture of your price range and show sellers that
you’re a serious buyer. Keep in mind that your budget
should include not just the price of the home but also
additional costs like property taxes, insurance, and
maintenance.
What should I look for during a
viewing?
While aesthetics are important, focus on the bones of
the house. Look for signs of dampness, cracks in walls,
or ageing roofs. Check out the local area and visit at
different times of the day to get a sense of it. And
don’t forget to ask about the home’s energy efficiency;
it can save you money in the long run.
What’s the difference between freehold
and leasehold?
When buying a property, it’s crucial to understand
the type of ownership. Freehold means you own the
property and the land it’s on. Leasehold, on the other
hand, means you own the property but not the land,
and you may need to pay ground rent. Always check
the length of the lease and the terms associated
with it.
The key to success
Whether you’re buying or selling, the key to a
successful transaction is preparation and knowledge.
Don’t be afraid to ask questions; your estate agent,
solicitor, and mortgage advisor are there to help. And
remember, it’s not just about finding a house or selling
a property, it’s about making the right move for your
lifestyle.
