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| CONVEYANCING
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Flats
If you are buying a flat as well as reporting on the title to you, we
will make sure that you have a right of support from those flats beneath
you and to the side, and a right of shelter from those above. We will
make enquiries as to how the “common parts” are maintained
and make sure that a management company exists to carry out those repairs.
Investment Property
As well as reporting to you about the title we will also advise you of
any covenants that should be replicated in any assured shorthold tenancy
that you grant. This will prevent you being in breach of covenant as a
result of something your tenant does, and not being able to take action
to stop further breaches by them.
Instructing us
When we are instructed for the first time we will ask you to comply with
money laundering regulations. You will need to provide evidence of your
identity and your address. We will let you know what documents we need
to see. We will also ask for details of where your funds will come from
if you are buying and where they will go on completion of a sale if you
are selling. It is important that you let us know if this changes during
the transaction as we may need to carry out further money laundering checks.
You need to:
1. When your offer is accepted
- Apply for a mortgage if you need one - your lender will arrange a valuation
- Arrange a survey - either a home buyer report or a structural survey
- Instruct us - see above
2. When you receive the survey do let us know if you are satisfied with
it, and any change in price
3. See us to discuss the report on title and to sign the mortgage deed,
contract and transfer, and to discuss moving dates. If you are not able
to attend the office we will discuss alternative arrangements with you
4. Make provisional arrangements for removals – do not confirm anything
until contracts are exchanged
5. Move house
6. Collect pre-registration deeds once registration is complete
| We will 1. Send for the searches 2. Look at the title documents and raise any queries to make sure you buy what you expect to buy 3. When those questions are answered, the searches are received, and we have your mortgage offer (if any), make an appointment to discuss our report on title with you and sign the contract, stamp duty land tax return and mortgage deed 4. Exchange contracts and send the transfer to the seller 5. Carry out further searches and ask you and your lender for monies to complete 6. Send the money in exchange for the title deeds 7. Completion takes place as soon as the money is received. The sellers solicitors will authorise the agents to release the keys to you. 8. Send the stamp duty land tax return and any payment to the Inland Revenue. 9. Apply to the Land Registry to have the property registered in your name 10. Send the deeds to your lender and arrange for you to collect pre- registration deeds |
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You will need to:
1. Let us know where your deeds are held (and the mortgage account number)
2. Complete a fixtures and fittings form to say what you are leaving in the property, a Property Information Form and an additional enquiries form
3. Let us have copies of any receipt for ground rent, and any guarantees relating to work carried out at the property.
| We will- 1. Prepare a draft contract and send it to the buyer’s solicitors along with any necessary title documents, the Property Information Form and Fixtures and Fittings Form, any guarantees and receipt for rent 2. Help you to answer any queries about the property 3. Exchange contracts 4. Arrange for you to sign the transfer deed 5. Receive the purchase money 6. Settle any estate agent’s bill our fees and redeem your mortgage and send the balance to you |
Buying with some-one else
If you are buying the property with another person it is important that
you decide how the title will be held, and the share you each own.
You can hold as joint tenants. This will mean on the death of the first
of you, that person’s share will automatically go to the survivor.
You can hold as tenants in common. In this event you will need to decide
whether you will own the property equally, or in different shares. You
can leave your share by will. It will not automatically pass on your death
to the survivor. There may be inheritance tax reasons why this option
should be considered.
Trust deeds are often used by unmarried couples, where parents are placing
a deposit on a property for a child, or where the buyers are contributing
different amounts to the price.
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Usually about 8 – 10 weeks, but the time will depend upon whether you are in a chain and how quickly queries can be answered
2. Why do I need a solicitor?
To make sure that when you make your biggest investment you own the house you expect to, and do not find out when you move in that there is to be a motorway at the end of your garden, that you are being prosecuted for breach of planning permission by the previous owner and lenders insist on it.
3. When should I arrange a definite moving date?
When you have discussed the report on title with us, and we have confirmed that you are ready to exchange contracts
4. What is exchange of contracts
We exchange your signed contact for a contract signed by the other party. The transaction is now binding
5. What are Home Information Packs?
Home Information Packs are not yet compulsory. They will be compulsory after 1 June 2007. It is expected they will provide a report on the condition of the property, along with information about the title and a copy of the local search and fixtures and fittings. They will be provided by the seller at the sellers cost and be available at the estate agent’s office. No property will be able to be marketed with out one.