THE HOME BUYING PROCESS
Buying a property is an important achievement and a dream come true but for first time home buyers who don’t know what to expect or to do, the process involved can be quite cumbersome and frustrating . In these period of high prices and rising dollar rates imagine how fast a dream to own a house can turn into a nightmare if you found out that there are legal matters unaddressed on the property you purchased. In order to prevent this heartbreaking situation from happening to you, we are going to walk you through each of the key steps involved in buying a house so that ,you know what you’re getting yourself into, how to prepare and the best way to prepare is to know exactly what to expect and processes you’ll need to go through before you can receive the keys to your new home.
Firstly, Before you start looking for a property, you should be sure that you’re ready and you have what you need, that is, your credit score, how much money you can afford or money saved for down payment and closing cost and a certified real estate agent, billcoteyrealty is a trustworthy and reliable real estate firm that can make the home buying experience secure, reliable and value for your money.
You can then start the home search process, once you’ve met the real estate agent and identified the property you want, you may need to schedule a viewing appointment with the real estate agent, if you’re happy with the property and interested in any of the agent listings, you need to speak with your real estate agent to ensure you make the right offer to the owner and also to request an offer letter from the owner this is to show that the owner has agreed to sell the house to you as a potential home buyer.
Once your offer has been accepted, you need to get a copy of the document on the property to enable you to run a thorough search at Lands commission, to be on the safer side, request for official search at lands commission which takes 14 working days for results to be out, it comprises of results from the 3 departments of Lands commission.to avoid the hustle of going through vigorous process at the land registry to verify your documents with just a single of a button on your phone or computer you can actual search your document on billcoteyrealty.com .click here search document
During the period of awaiting for the result of the official search document to be out, you’ll need to arrange for home inspection with a professional property evaluator. the home inspection is important as it will identify the stability and strength of the property and the value price of it. The property inspector will give you a general overview and lifespan; quality of the material used in building, instances where by you are purchasing a used house, one needs to take notice of where major repairs or renovations require immediate attention as well as any work that needs to be completed in the future. if significant repairs are needed you can request that the seller complete them before closing the deal.
Significantly, you need to request for a sales and purchasing agreement contract which would be certified by high court after both parties had endorsed the agreement . It is a legal contract that obligates a buyer to buy and a seller to sell the property. the contract includes the description and location of the property, the name and address of both parties, the agreed purchase price, the payment plan, conditions for the delivery of the property and signature of both parties. it is important that upon the purchase of any property, a sale and purchase agreement is signed.
We also advice that you proceed to making change of ownership at lands commission but that decision is entirely up to you because unless the registration has been done, the property’s search at the land Registry or Land Commission will not indicate you as the owner and the land will still be in the name of the owner.
if you enduringly complete all the processes, you will not have to worry about other people making claims over your property and by arming yourself with the necessary knowledge, resources and working with a trusted real estate agent, you can learn how the home buying process works. By following the steps in this article, the home buying experience will be much easier and you can enjoy your new home.
