|
|
guiding purchasers through the buying process
What happens after my offer has been accepted?
sale agreed
After an acceptable offer has been agreed, we draft sales letters introducing each party's solicitors.
legal process
In the common situation of a purchaser requiring a mortgage, now is the time to instruct your mortgage broker to proceed with your application and arrange a survey; simultaneously your solicitor will apply for a full set of legal documentation from the vendor's solicitor and then obtain Local Authority and Land Registry searches which detail property, planning and other material issues.
exchange of contracts
Once your solicitor has checked all the relevant documentation, has cleared deposit monies (usually 10% of sale price), exchange and completion dates have been agreed and both parties have signed the contract, exchange can take place. Once exchange takes place, it is legally binding.
post-exchange
After contracts have been exchanged, you will need to ensure your move goes smoothly by arranging the following:
- utilities to be transferred
- change of address
- redirection of mail
- buildings and contents insurance
- allow time to arrange for removals
completion of contracts
Completion date usually takes place up to four weeks after exchange. Shortly before or on completion the balance of the money is transferred by your solicitor and once the property is vacated, your solicitor will confirm completion.
We recommend you install new locks as a precautionary measure.
|
|
|
