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The
first major consideration is to work out how much you
can actually afford to spend on the property. Not only
will you have to have the money for the cost of the
sale but you will also need to consider : survey fees
valuation fees Stamp Duty Land Tax. This is payable
on properties costing more than £125,000 and is at least
1% of the purchase price (in a limited number of areas,
designated as 'disadvantaged', it is only payable on
properties costing £150 000 or more) land registry fee
local authority search fees, if any, charged by the
mortgage lender or someone who arranges the mortgage,
for example, a mortgage broker the buyer’s solicitor’s
costs VAT removal expenses any final bills, for example,
gas and electricity, from your present home which will
have to be paid when you move.
Secondly
you have to find a property. There are a number of ways
to do this - primarily using estate agents, the local
press and the Internet.
Deciding
on a property - you have to take a number of things
into consideration Is the property leasehold, freehold
or commonhold.
Once
the decision is made then you make an offer.
This
brings into play Holding deposits, Arranging a mortgage,
Arranging a survey, Choosing who is to do the legal
work.
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