Sale and Purchase of Residential Leasehold and Freehold Property

Once you have had an offer on a property accepted you need to appoint a conveyancer to handle the legalities of the purchase. This process includes running a series of searches to check for any potential concerns associated with the property you are purchasing.

The searches will/may include:

• Title search
• Local authority searches
• Flood risk
• Water authority searches
• Chancel repair search

We also advise that you at least organise a homebuyer’s survey although for some properties, e.g. older properties, we would advise that you commission a more detailed structural survey. Although instigating these surveys requires initial investment, they can save you money in the long run if problems are detected before the transaction is completed.

Once the surveys have been carried out, pre-exchange legalities and checks finalised and a mortgage arranged, you will be asked to sign the purchase contract, pay over a deposit of up to 10% of the purchase price and to discuss/negotiate and agree a completion date in order for an exchange of contracts to take place. Once contracts are exchanged you and the seller are legally bound to complete the transaction on the agreed completion date.

On completion day the seller’s solicitors will confirm that all the monies have been received and the seller or seller’s agent will hand over the keys to your new home to you.