Seven steps to buying your home
Buying a house can be a stressful process. To help explain it more, here are the seven steps to buying your home with the property team at Morrish Solicitors. Each of our specialist property lawyers has decades of experience in dealing with the purchase of properties so you’re in safe hands!
Step one: You will receive our initial papers setting out the documentation required from you to progress your purchase.
Step two: Once we’ve received the documents, we’ll request the draft contract papers from the seller’s conveyancer. These papers will include the sale contract, copies of the seller’s deeds and detailed property information forms.
Step three: When the contract papers are received, we will request the legal searches against the property. The searches required will vary depending on the location of the property. If you are obtaining mortgage finance these searches will be compulsory to protect both yourself and your lender in case of any adverse entries the searches reveal. (If you are not using mortgage finance, although the searches are not essential, it is best conveyance practice for them to be carried out so you are aware of any issues prior to your purchase.)
Step four: When we receive the search results we will raise any necessary enquiries with your seller’s conveyancer. Once we receive satisfactory replies to our enquiries, your search results and any required mortgage we will forward our report on the property to you.
Step five: If you are satisfied with the terms of our report and wish to proceed, we’ll invite you to sign the contract papers and discuss dates for exchanging contracts and completion.
Step six: Exchange of contracts is the point at which your purchase becomes legally binding. Prior to this there are no legal obligations on any party to proceed with the sale. Either party may withdraw from the sale without paying compensation to the other party at any time before contracts are exchanged. You must bear this in mind when arranging to move in to the property. To avoid unnecessary expense you should avoid confirming removal arrangements until we advise you contracts have been exchanged.
Step seven: Completion is the day when the purchase price is paid to the seller and you take possession of the property.
When selling or buying a property it is important to remember to update your will. If you don’t already have will, it’s an ideal time to arrange one. We offer specialist and affordable advice in this area. Please let us know if you would like one of our wills and estates team to contact you.
To enquire about our residential property and conveyancing services please call us on 033 3344 9600 or simply email [email protected] with your request.
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