KEY STAGES OF THE CONVEYANCING PROCESS – HOUSE PURCHASE:
HOUSE PURCHASE (FREEHOLD)
Conveyancers will:
-Take your instructions and issue a quotation pack
-Check finances are in place to fund purchase and contact lender’s solicitors if needed
-Receive and advise on contract documents
-Carry out searches
-Obtain further planning documentation if required
-Make any necessary enquiries of seller’s solicitor
-Give you advice on all documents and information received
-Report on the mortgage offer and send Mortgage Deed for signature
-Send final contract to you for signature
-Agree completion date (date from which you own the property)
-Exchange contracts and notify you that this has happened
-Arrange for all monies needed to be received from lender and you
-Complete purchase
-Deal with payment of Stamp Duty/Land Tax
-Deal with application for registration at Land Registry
HOW LONG WILL A HOUSE PURCHASE TAKE?
The time it takes from an offer being accepted until you can move in to your house will depend on a number of factors, but on average, this process takes at least 3 months. It can be quicker or slower, depending on the parties in the chain.
HOUSE PURCHASE (LEASEHOLD)
As above, our fees cover all the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property is in Wales.
Note: If you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, ie between 3 and 4 months. Please note that additional charges would then also apply.
You need to also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.
STAGES OF THE PROCESS
The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, below we have suggested some key stages for your information.
Conveyancers will:
-Take your instructions and issue a quotation pack
-Request Search fees from you
-Check finances are in place to fund purchase and contact lender’s solicitors if needed
-Receive and advise on contract documents
-Carry out searches
-Obtain further planning documentation if required
-Make any necessary enquiries of seller’s solicitor
-Give you advice on all documents and information received
-Report on mortgage offer and send Mortgage Deed for signature
-Send contract and transfer to you for signature
-Obtain pre-completion searches
-Agree completion date (date from which you own the property)
-Exchange contracts and notify you that this has happened
-Arrange for all monies needed to be received from lender and you
-Complete purchase
-Deal with payment of Stamp Duty/Land Tax
-Deal with application for registration at Land Registry
Our legal fee assumes that:
– this is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
-this is the assignment of an existing lease and is not the grant of a new lease
-the transaction is concluded in a timely manner and no unforeseen complication arise
-all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
-no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
To obtain an instant quote online, please click here to our website:
https://owenkenny.com/conveyancing-quotes-online/
