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Buy & Sell with the BSPCThe Scottish Borders Solicitors Property Centres
Selling with the BSPC
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Buying with the BSPC
Financial & LegalYour solicitor will give you an estimate of the costs involved and outline the buying procedure. As well as legal fees you may also have to budget for Stamp Duty, mortgage valuation or survey fees, buildings and contents insurance, deposit for mortgage - maybe even a bridging loan. Better to plan on a worst-case basis than have to cope with unexpected charges after the budget is spent. If you're taking out a mortgage you may also have to pay an arrangement fee and mortgage indemnity fee (a one-off insurance payment which ensures the lender doesn't lose out financially if you default on the mortgage and the property has to be resold). It's advisable to have the availability of a mortgage agreed in principle before you begin looking for a house, otherwise another buyer could beat to it.
Interest & ViewingWhen you find a property, contact your solicitor to lodge a note of interest with the seller's solicitor. This ensures that you'll be informed if a closing date is set. Ideally, view the property at different times of day (soft lighting after-dark can be very deceptive), look for obvious defects, ask to see fuel bills, building warrants or guarantees for any improvements/alterations, clarify what's included in the price, and check out the surrounding area for schools, transport links etc.
When your offer is accepted, your solicitor will conclude the missives - a legally binding contract between buyer and seller - and complete the conveyancing procedure. |
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