What you need to do when your buying a house

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Matters that you, the client, will need to look after include:

  • If you are buying a new home, dealing with the builder on property details, extras, and arranging for a qualified surveyor / architect / engineer to do periodic inspections and the snag list.
  • If you are buying a second-hand home, having a structural survey carried out by a qualified surveyor / architect / engineer before signing any contracts.
  • Dealing directly with your bank on non-title matters, including:
    • Loan application / negotiation, getting loan approval in writing (which should be obtained before signing contracts).
    • Establishing your identity for the purpose of opening a loan account (under anti-money laundering legislation).
    • Property insurance, what value to insure for, what interests should be noted on the policy, how much it will cost.
    • Life assurance / mortgage protection insurance, what it covers, how much it will cost.
    • Direct debit mandate.

Note that your loan cheque will not issue or could be delayed until you have satisfied your bank on these non-title items

  • Getting balance of money to close (other than the loan cheque).
  • Getting money to pay legal fees and outlays on closing.
  • Pre-closing inspection of the property.
  • Arranging to have utilities transferred into your name when you complete the purchase.

Before seeing your solicitor:

  • Do not pay a deposit.
  • Do not sign anything for anybody.
  • Do not order work, furnishings or appliances until the purchase is completed.