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Conveyancing - Purchasing a Property
1. Once the seller accepts your offer of purchase, you need to exchange lawyers details with them. 2. Inform your lawyer that a sale has been agreed and give them the seller's lawyers details. Your estate agent will then contact the seller's lawyer 3. Your lawyer will receive the draft contract. This contains details of prices, deposits, details of the two parties involved in the sale and information from 4. Your lawyer will now make pre-contract enquiries 5. Your lawyer should now send you a property information form, or a draft contract for you to review. The property information form contains key property information. If your lawyer has sent you a property information form, they will often also include copies of any previous title deeds, as well as a fixtures and 6. Your lawyer will carry out searches relating to your property such as local authority searches to ensure there are no plans for any new major roads or 7. Your lawyer will also carry out additional searches. These include standard information being requested from your local water authority and may also include regional specific searches such as coal mining. 8. Your lawyer will check the title of the property, ensuring that the seller really owns the property and has the right to sell it. 9. Your lawyer will send a standard set of enquiries to the seller's lawyer requesting information on - Any disputes relating to the property - Planning 10. Your lawyer will check the details in the draft contract, and negotiate changes to it with the seller's lawyer as necessary. This will include any issues 11. The contract is negotiated and agreed. A completion date is agreed 12. If you are taking out a mortgage to purchase the property, you will now get a formal mortgage offer (rather than an agreement in principal). 13. Contracts are exchanged. You hand over a deposit which is non-refundable if you pull out of the purchase. 14. Your lawyer draws up a transfer document and sends it to the seller's lawyer 15. If you have taken out a mortgage, your lawyer arranges finalisation and signing of your mortgage documents 16. Your lawyer carries out final searches and enquiries to make sure that nothing is registered against the seller. Problems such as undisclosed mortgages or disputes could be uncovered at this stage. 17. At this stage you need to ensure that all the practical matters related to moving house are in hand. 18. On completion day you can move into your new property. The seller will be paid the balance of the house purchase through your lawyers 19. You receive the transfer document and the title deeds 20. You any outstanding costs, such as stamp duty (if applicable), Land Registry fees and your lawyer fees 21. Your lawyer will register the transfer of ownership of the property at the Land Registry 22. Your lawyer will send you a statement of completion What our clients say
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Conveyancing Quote type: Sale - Purchase - Sale and Purchase - EPC - Remortgage - Transfer of Equity
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