Buying a Property
Buying a house, moving house, or adding a new property to your portfolio is both exciting and a stressful experience. At Best Solicitors, we are fully committed to managing your house purchase, with experience backed by being one of the first solicitors accepted on the The Law Society Conveyancing Quality Scheme. We provide efficient, expert conveyancing services with clear and timely updated, and transparent pricing.
Buying Property – The Conveyancing Process
Conveyancing: Conveyancing is the legal transferring of property from one person to another.
While we do a lot more work behind the scenes, here is a simplified explanation of how the process works:
1. Communication, Information & Investigation
During our initial communications, we will contact the property seller’s solicitor, in order to analyse their draft contacts, title register, and other property information, and raising additional questions where relevant.
We will also investigate the property through a series of searches, some of which may be legally required, whilst others may be required from your mortgage provider to minimise liability. Some additional searches include: checking flood risk, and water authority searches.
2. Contract Analysis & Report
The contract’s terms and conditions, as well as the title information, will be thoroughly inspected. Furthermore, we work with the seller’s solicitor to complete all additional enquiries. After reviewing the outcomes of the searches and checking on further enquiries, we will create a property report, in which you will see the details of the property you intend to purchase.
After you have had time to check the report, you will be asked to sign it and pay the deposit. The particulars of your mortgage offer will be examined, and we will determine that there are no restrictions or conditions that need to be met before the funds can be made available.
Once the appropriate documents have been signed and checked, we can move forward with discussing your moving date.
3. Exchanging Contracts
Once the completion date has been agreed upon by all of the involved parties, the contracts will be exchanged. To keep everything running smoothly, the steps must be completed in the proper order.
At this stage, the contracts have been agreed to and signed. You and the seller are both legally committed to following through with this agreement. The final transaction will take place between the seller’s lawyer and us. We will also handle the request of funds and final searches. We will inform you of anything left owing at this point.
4. Completion & Hand Over of Keys
Now all funds will have been transferred over, completion is official, and you can safely collect the keys to your new property.
We will handle everything from here on out, including:
- Land Registry
- Stamp Duty Land Tax
