Key Stages – Purchase

Once you have instructed us to act for you in the purchase of your property, your lawyer will proceed as follows

Receive a draft Contract and supporting documentation from the Seller’s Lawyer and send you a preliminary report

Raise additional enquiries with the Seller’s Lawyer

Carry out all necessary searches e.g. local authority, drainage, environmental and others as necessary.

Received a copy of your survey report and let you have our comments

Receive a copy of your mortgage offer from your Lender and advise you

SIGNING THE CONTRACT

When all the above matters have been dealt with to our and your satisfaction, send you a full report with the Contract for signature.

EXCHANGE OF CONTRACTS

Agree a Completion Date and proceed to formal exchange of Contracts.

Once Contracts are exchanged, the transaction and the agreed date for completion will be legally binding on all parties. Failure to complete on the agreed date will almost certainly incur financial penalties.

PREPARING FOR COMPLETION

Prepare the Transfer Deed and forward it to the Seller’s Lawyer for approval or amendment.

Carry out all necessary final searches.

Request the mortgage funds from your Lender (if applicable).

Prepare a financial statement and request the balance of funds for completion.

COMPLETION

The time frame from instructing a lawyer until the date of completion depends upon the length of the chain, the complexity of the transaction and a number of other factors but as an approximate guide, after receiving your initial instructions it usually it takes at least 6-8 weeks to reach exchange of Contracts and another 2-4 weeks to reach Completion.

The completion date is the date that you will be able to move into the property.