- June 13, 2015
- Posted by: Steven Mather
- Category: Information Guides
Buying a home, whether you are a first time buyer or just moving on, is a really exciting but often stressful time. Our conveyancing solicitors in leicestershire can help make your purchase of property as smooth as possible.
Here’s our guide to the conveyancing process for buying property.
What we need to do to purchase your property
Receive your signed Terms of Business, Proof of Identity, Purchase Factsheet and your monies on account for searches.
We contact the Seller’s Lawyers and request the contract documentation.
On receipt of the contract documentation we will request your searches and raise any initial questions, known as enquiries.
If not already done so, we will liaise with you about source of funding and provide you with copies of initial paperwork from the Seller’s Lawyers.
Once we have received your search results, Local Authority, Water & Drainage, Environmental and any other required searches, we will assess whether further questions need to be raised with the Seller’s Lawyers.
If you are purchasing with the assistance of a mortgage, we will review your mortgage offer and liaise with your mortgage lender to make sure that all of your mortgage lenders requirements are met.
Once we are satisfied all our questions have been answered, we prepare a detailed purchase report for you and arrange for the legal documentation to be signed and for you to provide us with your deposit monies.
We will also discuss completion dates with you.
Once a completion date is agreed between you and your Seller we will exchange contracts, entering you into a legal binging contract to sell your property and setting the completion date in stone.
We will also request your mortgage monies, if applicable, to come in day before completion.
On the completion day, we will transfer the whole of the purchase price to the seller’s lawyers. Once the seller’s lawyers have received this money we will call you to tell you when you can pick up the keys from the Estate Agent.
Following completion, we will submit the necessary documentation and payment to the Inland Revenue for your stamp duty and proceed to register your new ownership at the Land Registry.