- Instruct Solicitors
Your solicitors will send you an initial pack which you will need to fill out and return with your identification and usually an initial payment on account for searches.
- Memorandum of Sale
The estate agent or housing association will send a Memorandum of Sale with details of the property, any terms or deadlines that have been agreed and their solicitors’ contact details.
- Contract Pack
The seller’s solicitors will send your solicitors a Contract Pack which will include all the documents necessary to raise enquiries.
- Searches
Included in the pack will be a plan of the property so your solicitors can order your searches
- Enquiries
These are legal questions your solicitors will raise about the property. You can also then let them know if you have any specific questions to raise.
- Mortgage Offer
Your lender will send you a copy of your offer and a separate copy to your solicitors which will set out your mortgage terms and any matters they want your solicitors to confirm.
- Searches Received
Once all your searches are in, your solicitors will check these and report to you on the results
- Title Report
When all the above has been done, your solicitors then send you an overall report on your property. This will include anything we feel you will need to know about the property before proceeding to exchange.
- Final File Review
If you are happy with the report, all your questions have been answered, all signed documents are in and your deposit has been received, your solicitors will do a final file review to make sure we are ready to exchange.
- Exchange
When all the above steps are satisfied you can formally exchange.
- Completion
This is the final stage and the day that you will receive the keys and move into your new home.
The above article is for guidance only and does not constitute legal advice. Relevant law applicable as at date of publication only.