- Bromley020 8290 0333
Sale and Purchase
In the sale and purchase process a solicitor’s role includes drawing up/ approving the sale and purchase contract, checking title, raising /replying to legal enquiries, commissioning and checking search results, exchanging and completing the contract and coordinating the transmission of mortgage /client finances.
At Judge & Priestley, we have a wealth of experience in successfully managing residential property transactions and we understand how important it is for the process to go through as quickly as possible. The sale and/or purchase of a home is often the biggest financial transaction individuals make in their lifetime, and we know how important it is to get the legal aspects exactly right.
The Legal Process of Buying Residential 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 homebuyers survey although for some properties eg older properties, we would advise that you commission a more detailed structural survey. Although instigating these surveys require 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.
Let us Manage the Process For You
At Judge & Priestley we are committed to making the sale and purchase of property easy for our clients. Please call our office on 020 8290 0333 and ask to be put through to one of our highly experienced solicitors or conveyancers.