Purchases Explained

We are instructed to act on your behalf in the Purchase of your Property.

We provide you with our Initial Paperwork and request from you:
Terms of Engagement, Purchase Particulars, Proof of ID and an Initial Payment of £250.

We receive draft contracts from the seller’s solicitors. These include the Legal Agreement for Sale, Evidence of the seller’s title, information forms completed by the seller about the property and the fittings and contents.

We order Searches (as standard a Local Authority Search, a Water and Drainage Search and an Environmental Search) on the property (if applicable)

We review the paperwork enclosed with the draft contracts and raise any queries that we have on the same (these are known as enquiries). We prepare a Transfer Deed and send it to the Seller’s Solicitors for approval.

The average time for a Freehold transaction to reach completion is between 10 and 16 weeks (please note that Leasehold transactions may take longer), from the date that the contract papers are received at our office, and not the date that the purchase was agreed with the Estate Agents.

 
This is an estimate, and the speed of the transaction can vary drastically based on the number of parties involved and the speed of responses from the seller’s solicitors.  Please do not rely on any dates given by the estate agents, as the date is dependent on the correct information being in place between solicitors.

We receive the results of the searches (depending on the Local Authority, this is approximately 3 weeks after ordering them). We then review the information and raise any other necessary enquiries.

We receive your mortgage offer and mortgage deed from the bank and review it (where applicable)

We receive replies to the enquiries from the seller’s solicitors and review the information provided

We put together a full report on the information that we have and provide you with copies of all documents and findings. We arrange for you to attend our offices (where possible) and get you to sign the Contract, Transfer and Mortgage Deed. We request from you the deposit money that allows us to exchange contracts.

We agree to a completion date with the seller’s solicitor

WE EXCHANGE CONTRACTS

We apply for the mortgage money (where applicable)

We apply for pre-completion searches

We receive the mortgage money

We receive clear pre-completion searches

We receive the balance of money required to complete the purchase from you

WE COMPLETE ON YOUR PURCHASE
(the property is finally yours!!)

We complete and submit the Land Transaction Return Form to Inland Revenue in respect of Stamp Duty (even if you’re lucky enough to not have to pay it)

We apply to Land Registry to register the property into your name

We send a copy of the updated Title Deeds in your name to you and your mortgage lender (if applicable)