in this video i'm going to take a look at seven steps
that might help you to simplify your house purchase
these are steps that i've sort of discovered and experienced down through the years first one is
location choose a good location if you can there is a well known truism the day you buy is the day
you sell so you can change a lot of things about your house but you'll never be able to change its
location you can improve it you can extend it you can convert it you can knock it but you cannot
change its location so my advice will be to get the worst property in the best area to fit your
budget not the best property in the worst area because as i say you cannot change your location
second thing you need to be concerned about and take very seriously is the question of finances
make sure that your budget will cover all outlays and all costs that you're going to incur
so you being a purchaser if you're borrowing money then you're going to have a bank valuation
to pay for it's recommended then if you're getting a secondhand property that you get
a structural survey you're going to have stamp duty to pay as well which will probably be one
percent of the purchase price you're going to have to pay a solicitor professional fee legal fee for
conveyancing you're going to have to pay property registration authority fees to register the
change of ownership and register you as the new owner of the property and register the mortgage
and you're going to have other necessary outlays for the conveyance for example legal
searches will have to be carried out on closing day and you'll also have fees in relation to the
commission of roads that's for swearing documents and so on third tip i would give you would be in
relation to negotiation you need to negotiate shrewdly and coolly and calmly i've made a video
about negotiating a number of videos actually about negotiating on my youtube channel but one
of the serious uh or one of the most important and uh effective tips that i've discovered down
through the years is that when you get serious and you're getting towards the end of the negotiations
offer a very specific odd uneven number as your final offer not a round number
for example 194 thousand six hundred as your best and last offer not 195 000 because 195 000 quite
frankly does not look like your final offer it looks like another negotiation or another bid
in the negotiation process whereas if you go to the vendor or the estate agent and say look
i am absolutely flat to the mat i've got money from everywhere that i can
family and friends have chipped in and what i have now is this figure if it's an uneven odd
number it's going to look more credible as your best and final offer number four second-hand
property get a structural survey carried out if a sale doesn't go ahead and you don't get a house
it will still be money well spent because it will mean that you have avoided an absolute lemon
and that's important a structural survey you must be aware is not a bank valuation don't confuse
the two the bank valuation is for the lender the structural survey is for you and it's to allow you
to make a sound decision as to proceed with the property purchase or not ensure that your surveyor
has professional indemnity insurance and forget about getting a well-known or a well-meaning
friend or relation to have a look over the house because quite frankly they may or may
not know what they're doing but bottom line is you really do want a professional who will be familiar
with the building regulations and will be able to identify any work that might have been carried out
and that might have needed planning permission your friend your father your uncle who is a
builder may or may not be able to identify these things so that's where you get a professional
planning then do your own research in relation to planning you can do a planning search in
your local authority the local county council or wherever if you want check that the area though
that there's no development in the pipeline which might affect your decision if you for example
checked out the area kept an eye on the facebook pages of relevant community groups perhaps in the
area you'll get a good feel for what's going on you'll get a good feel for any developments that
might be in the pipeline that might be injurious for example a new dump a recycling center a meat
factory things of that nature can affect your enjoyment of your property and can affect the
value of your property number six lenders requirements ensure you have all the lenders
requirements in place at an early stage this will include life assurance mortgage protection that is
and home insurance the lender will not release your loan check until their requirements are met
your solicitor will tell you what other special conditions are in the loan offer have a look at
it yourself though and just seized any special conditions if you're getting a gift for example
from a friend or a relation a parent perhaps then you may need a deed of confirmation check that
with your solicitor check it with the lender because it'll hold things up if you have left
outstanding special conditions because the bank simply will not release the money and remember
in this equation the bank has the money the most common hold up i find is life insurance assignment
is not sent in or the life insurance is not in place and the property insurance is not in place
with the interest of the lender notice if it's for example an apartment or a multi-unit development
but the bottom line is you will need life insurance and you will need home insurance
choose your solicitor well buying or selling property is a stressful time one of the best
ways to reduce stress is to know what's going on so communication from your solicitor is vital
to reduce the stress yeah if you know what's going on obviously it's very very helpful and
it's a less stressful event and proceeding i have a free report you can get it on my website there
my website is business and legal.ie there's a page today with some free reports on it i
give away a free report in relation to buying or selling residential property in ireland
it's useful enough and you might be interested in getting it it's free you insert your email
and it'll be sent directly to your inbox i hope you find this video useful and if you do
i would appreciate if you give the thumbs up down below thanks a lot and thanks for watching