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Property Purchase

Step 1

The seller’s solicitors will prepare an “Information Pack” which will include a Fixtures, Fittings and Contents Form and a Property Information Form. Your solicitor should also receive a copy of the title deeds to the property as well as the contract.

Your solicitor should check these documents carefully and report to you on all aspects of the property. This will be done by either a written report or by way of a meeting.

Your solicitor may choose to undertake a local search. For certain types of properties or homes in certain areas it is recommend that additional searches take place - for example, properties in coal-mining areas may require a mining search.

Step 2

Having evaluated the documentation received, certain questions may arise. Your solicitor will raise any necessary questions with your seller’s solicitors.

These may relate to such matters as guarantees, planning permissions, building regulation approvals for extensions or alterations to the property or ownership of boundary hedges and fences.

Importantly, confirmation will be required from the seller’s solicitors that any existing mortgages on the property will be paid off on completion of your purchase.

Step 3

If you are obtaining a mortgage your mortgage lender will forward a copy of the mortgage offer to your solicitors. The exchanging of contracts will not be able to take place until the mortgage offer has been received.

A “Completion Statement” will be prepared and sent to you by your solicitor once the necessary calculations have been made with regard to the mortgage offer and the completion of the sale.

Step 4

Once your solicitor has received the search results, replies to all their questions and your mortgage offer, an agreement can be reached on a completion date.

If there is a long “chain” every party in the chain will need to be ready to exchange and be in agreement with the suggested completion date.

You will be legally bound once the completion date has been agreed and neither party will be able to withdraw.

Step 5

The balance of the purchase money to the seller’s solicitors should be forwarded to you on the date of completion. Upon receipt they will confirm to the estate agents that the keys can be released to you.

The title deeds will be forward to your solicitor after completion and they should register your ownership at HM Land Registry.