How to buy your house
Beck Solicitors Conveyancing Department
Buying a house is a much more involved process than selling, as we are required to ensure that there are no ownership, legal or potential problems with re-sale of your property in the future.
- When we receive from you confirmation of instructions and requested search fees and also the contract papers from the seller’s solicitors, we will then put in hand the required searches, for example local authority search, drainage search and environmental search. More searches may be necessary and are dependant on the area the property is located.
- If you are obtaining a mortgage on your property, we will need to be advised. We are not able to advise if the mortgage you are obtaining is the best for your circumstances are we are unable to give financial advice and your must speak to your own Financial Advisor regarding the best mortgage for you.
- When we have received all necessary paperwork from the seller’s solicitors, the results of searches and your mortgage offer we can at this point discuss a date for completion. We do require five working days between exchange of contracts and completion in order for us to obtain the mortgage monies from your lender.
- As soon as a completion date has been agreed, we will then carry out the legal process required prior to completion which includes ensuring we have sufficient funds to complete your purchase.
- On the day of completion, the money is sent to your seller’s solicitors through the banking system and when received by the seller’s solicitors, they telephone our office and confirm that the keys can be collected by you.
- After completion, we will ensure that any Stamp Duty is paid to the Inland Revenue. When we receive the required confirmation from the Inland Revenue we will then deal with registering you as the owner of the property with the Land Registry.
- Once you are registered with the Land Registry, we will advise you and forward to you a copy of the Land Registry entry confirming the same.
The above is a very brief outline of the process and work required in dealing with a sale and purchase. Sometimes delays are encountered for unforeseen reasons but throughout the process we will keep you fully updated.
See also: House Sale / Purchase | How to sell your house