Once you have had your offer accepted on a property and you have a provisional mortgage offer, you will need to instruct a solicitor. Most law firms offer far more competitive fees than an estate agent, so rather than their bills amounting to a percentage of the sale fee, they will usually offer a fixed price for their legal service.
After you have found your solicitor, there will be additional costs to pay such as the searches on the property. There are many different types of searches available, but one to beware of is called a chancel repair liability, and applies if your future home is close to a church. If this liability is included, it means that you could be liable to pay repair costs on the local church. The cost to search whether you will be liable is around £30 and if you are, you will need to purchase an insurance policy for about £30 to cover this liability. However, if you just purchase the insurance anyway you have saved 50 per cent of the cost and also saved time too.
Your survey costs will be another area where you may be able to save money and you should ask for quotes from a number of different surveyors and check reviews on their work.
Once you have completed all of the legalities, you have the final hurdle of moving in when removal costs can be another expensive area. Shopping around for the best quote is a good idea, but also be flexible and ask the removal company when their quietest periods are, this could be a good way to secure a discount. You should always check that the removal company has all of the necessary insurance in place too. Often your solicitor can recommend a good, trustworthy local removal company.
Whilst saving money is important, the cheapest option is not always the best and throughout the process, you should make sure that you have got the right advice and that you are protected.
If you have any property questions, please call Sarah Gratton or Jo Ayrton in our Warminster office on 01985 214444 or email firstname.lastname@example.org and we will be delighted to help you (there is no charge for initial telephone discussions).