So you are looking to purchase a new property, what exactly will your property conveyancer be doing for you? Here's a quick guide from GA Lott Property Lawyers.
- Agree the purchase price with the seller.
- Look for a mortgage and have your own survey carried out.
- Contact us and give us copies of the house details. You will also be asked to pay for searches at this stage. We will need to perform checks as to your ID at this stage to comply with money laundering rules.
- The buyer's conveyancer will provide us with a draft contract and information. We will ask questions raised from the searches or from our knowledge of the property type and area.
- We will provide you with a report of our findings as to the property from the searches and other enquiries. We will discuss this with you to ensure you fully understand any odd things we find out. This can be done over the phone or you can call in to see us.
- Exchange takes place and you provide the seller with the deposit money. This is a crucial moment as both sides are then legally obliged to complete the
transaction on the date which has previously been agreed.
- We will carry out the final searches and prepared the legal documentation for you. We will also prepare a statement detailing how much you will need to have with us before completion.
- You sign the documentation we have provided for you and we obtain the mortgage money on your behalf in time for completion.
- We will transfer the purchase money to the seller's conveyancer once everything is in place.
- We will complete the transaction by paying stamp duty from the funds you have provided, registering the transaction with Land Registry and if you have a mortgage delivering the deeds to the lender.
If you would like to talk to us about your property purchase then please contact GA Lott Property Lawyers.