Here is a brief outline of the steps involved when purchasing a property: –
- Once you tell us you would like us to act for you in the purchase of your property we will write to you introducing our firm and asking you to complete some initial documentation.
- Around the same time, we should receive the Estate Agents notification of sale which sets out details of, the names and addresses of all parties to the transaction, the price agreed and details of each parties lawyers.
- We will then contact the sellers lawyers, confirming we act for you and asking them to confirm their instructions to act for the buyer and to provide a draft Contract for our approval.
- Shortly after, we would expect to receive draft Contract and supporting documents including copy title deeds, planning consents, other relevant information and completed Property Information and Fittings and Contents Forms which will have been completed by the seller.
- We then apply for searches of local authority, water company and any others relevant to the property.
- We will check title of the property and approve the draft Contract.
- We may need to raise further enquiries of seller’s lawyers.
- When we receive replies to those enquiries and the results of local and other searches we will review them and:
- Report to you on Contract, searches, and mortgage and ask you to sign documents in readiness for exchange of contracts
- When your seller and everyone else in the chain is ready to exchange and a completion date has been agreed we will: –
- “Exchange Contracts” — i.e. bind the seller to sell and you to purchase at the Contract price.
- After exchange, we will send you a statement showing you the final costs including our own fees and expenses.
- After completion, we will pay any necessary stamp duty on your behalf and then register your ownership of the property at the Land Registry.
If you would like to read our detailed guide, The Conveyancing Process Explained, click here: The Conveyancing Process Explained.docx
As a property owner, you should make a Will if you don’t have one already. Click here to read more on Wills or contact us to speak to one of our Wills team.
Visit our selling a property page for more