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Conveyancing FAQs

Purchase: We have found a house we would like to buy, now what do we do?

Purchase: What are the “searches” that are made?

Purchase: What about my mortgage?

Purchase: How long do they take?

Purchase: When will contracts be exchanged?

Purchase: What happens after contracts have been exchanged?

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Sale: We have agreed to sell our house, now what do we do?

Sale: What about my deeds?

Sale: What forms will I need to fill in?

Sale: What Happens Next?

Sale: When will we exchange?

Sale: Can I change my mind?

Sale: What happens between exchange and completion?

Sale: What happens on the day of completion?


Purchase: We have found a house we would like to buy, now what do we do?

You can either contact us directly or give our details to the estate who will then write to us confirming the details.

We will then write to you and confirm all the details of the transaction and will contact the Solicitors acting for the Sellers and request the draft contract and other documentation we will require.

 

Purchase: What are the “searches” that are made?

We will undertake a local authority search which is a search made against the property and shows results such as whether the local council is responsible for maintaining the roads and any planning applications relating to the property you are proposing to purchase.

We also almost always undertake a drainage search to check that the property is connected to the drainage system and mains water and an environmental search to check for issues such as contamination.

It may also be necessary to carry out other searches depending on the area you are purchasing such as a coal mining search or commons registration search.

 

Purchase: What about my mortgage?

Once you have found the right mortgage, the lender will ask for our details to send us a copy of the offer.

Depending on the type of survey you choose to undertake, we will receive a copy of the report together with the mortgage offer and will check both to see whether we need to take any action.

We must comply with the conditions imposed on the mortgage offer before we can request any monies from the lender.

 

Purchase: How long do they take?

Depending on the local authority these searches can take up to 3 weeks.

 

Purchase: When will contracts be exchanged?

Once we have received satisfactory search results we may need to raise additional enquiries with the Sellers Solicitors. Once we are happy with all the information we have you will then be asked to sign the contract and to pay the deposit and we will then exchange contracts. The agreement is then legally binding. On occasions, exchange and completion may take place at the same time.

 

Purchase: What happens after contracts have been exchanged?

Once the contract has been exchanged we will the prepare the final account which will include our costs, disbursements and any monies required from you to complete the transaction.

If we require additional monies from you these must have cleared in our account on the day before completion in order for us to complete the purchase.

All purchase monies have be cleared in our account before completion can take place.

 

Sale: We have agreed to sell our house, now what do we do?

Contact us directly or provide our details to your estate agents. We will write to you and confirm all the details of the transaction.

 

Sale: What about my deeds?

Leave this to us. We will request them on your behalf from your lender.

 

Sale: What forms will I need to fill in?

You will be asked to complete a Fixtures and Fittings form and a Sellers Property Information form which contains important information which is required by the Buyer.

You will also need to let us have any guarantees you may have that are not kept with your Deeds e.g. damp and timber reports

 

Sale: What Happens Next?

Once we have received the forms from you we will send the contract package to the Solicitors acting for the Buyer. They will then carry out various searches and raise additional enquiries relating to the property. We may need to contact you for additional information and/or documents at this point.

 

Sale: When will we exchange?

Once the Solicitors acting for the Buyer are happy with all the paperwork we will arrange for you to sign the contract in preparation for exchange and the Buyer will also sign their copy of the contract.

We will exchange contracts on your behalf with the Solicitors for the Buyers usually over the telephone which is called “exchange of contracts”. The contract is then sent to the purchaser’s solicitors together with any deposit who in turn will then send their contract to the vendor’s solicitors to complete the exchange.

 

Sale: Can I change my mind?

You can change your mind until contracts have been exchanged. Once contracts have been exchanged you are committed to the sale and if you change your mind you will incur financial penalties.

 

Sale: What happens between exchange and completion?

We will obtain a redemption figure is obtained from your Building Society for your mortgage together with the daily rate of interest. We will also send you a completion statement and account showing all the costs and disbursements relating to the transaction.

 

Sale: What happens on the day of completion?

The purchaser’s solicitor will transfer the purchase monies to our bank account and once this arrives the Buyers will be able to collect the keys. We will then pay off your mortgage and the estate agents fees and let you have the net proceeds of sale.