Buying your property

  1. Instructions
    WE WILL: YOU SHOULD:
    Send you a questionnaire.
    Ask you for money on account.
    Write to the seller’s solicitors and the estate
    agents.
    Apply for initial instructions.
    Not cancel any existing tenancy arrangements
    before exchange.
    Fill in the questionnaire and return it as soon as
    possible.
    Let us have a cheque as soon as possible so we
    can apply for the Local Search.
    Apply for your mortgage. Our associated
    independent financial service section can
    organise this for you.
    Apply for life insurance (if any).
    Arrange your survey (houses are usually “sold as
    seen”).
  2. Contract
    WE WILL: YOU SHOULD:
    Check the title documents and Local Search
    on their receipt.
    Raise any additional enquiries.
    Check you mortgage offer.
    Report to you with the contract for signing.
    Ask you for the deposit funds which must
    be cleared funds.
    Check your survey report and let us know of any
    queries.
    Chase up your lender if the mortgage offer is
    delayed.
    Return the signed contact and provide the
    deposit promptly (cleared funds).
    Read our report carefully and ask any questions
    now
    (it will be too late once contracts are
    exchanged).
  3. Mortgage
    Lenders have recently instituted new rules for solicitors acting for both lender and borrower, which have increased the requirements on acting for the lender and will result in additional legal work.
    WE WILL: YOU SHOULD:
    Comply with identity checks.
    Check the valuation against the deeds.
    Check the seller has owned the property for
    more than 6 months.
    Do additional searches if required.
    Arrange indemnity policies if required.
    Check the lease complies with the lender’s
    requirements (very strict).
    Do a search on the management company.
    Agree retentions for roads/sewers.
    Check insurance in detail (unless you are
    insuring through the lender).
    Check details of occupiers.
    Make full disclosure to the lender of all relevant
    information.
    Authorise us to pass on to your lender any
    additional points that arise (otherwise we may
    have to cease to act for you).
    Send us a copy of the valuation.
    Be patient while we clear any matters with the
    lender – even if you are happy – we may need
    specific authorisation before we can proceed.
  4. Exchange
    WE WILL: YOU SHOULD:
    Agree a completion date with all parties
    Exchange contracts
    Let us know if any dates are impossible for your
    move (but try and be flexible if there is a chain).
  5. Pre-Completion
    WE WILL: YOU SHOULD:
    Prepare the transfer documents.
    Ask you for any additional funds.
    Apply for your mortgage advance.
    Make our final searches and requisitions.
    Book your removal van (do not do this before
    exchange).
    Notify the council and water/drainage authorities.
    Arrange for connection of services.
    Let us have funds in good time (funds must be
    cleared funds).
    Once they keys are released you can move into
    your new home (usually around midday).
  6. Post Completion
    WE WILL: YOU SHOULD:
    Check the Title Deeds on receipt.
    Register your Title (and mortgage) at the
    Land Registry.
    Send you a copy of the Title.
    Send your deeds to your lender for
    safekeeping. If there is no mortgage then
    we can either send the deeds to you or
    store them at this office, as required.
    Settle into your new home
    Let us know of any problems
    Deal with any undertakings to your lender within
    the timescale given
  7. It’s worth noting that…
    Once you have exchanged contracts you are committed to proceed and cannot cancel without
    losing your deposit and further serious legal consequences.