Looking for property and finding a home is far more exciting than going shopping for something very special like a car or a wedding gown. Shopping for property is indeed exciting, finding one is as exciting as it is nerve wrecking because you anticipate something might go wrong because you are not equipped to deal with the legal work. Buying a property though, is very complex because of the work involved in trying to obtain a mortgage and taking ownership.
Legal specialists and agents undertake a lot of work to help the new property owner and the one selling the property. Great care is taken so that both parties have their interests served and the transaction goes as smooth as it is possible. But what should you look out for when buying property? You need to do a bit of research in preparation for shopping, finding and buying property.
How long does the conveyancing process take? It really depends on the property and their owners, as well as the buyer. Also, you need to bear in mind the location and what kind of local searches will be undertaken in order to collate information. Of course it also depends on the solicitors. We highly recommend that you find property solicitors near the area you want to live, because they will have established relationships with the local authorities which will facilitate their conveyancing work. Because conveyancing is a complex process, time frames differ but you should anticipate an average of 8 weeks until the transaction has been completed.
Once you find a property, you make an offer and if it is accepted, you then instruct a property solicitor to carry out the legal work. Your solicitor will then liaise with the seller’s solicitor and obtain a pack with the contract and documentation relating to the house. After that, your solicitor needs to obtain the mortgage approval letter and after paying the deposit and signing the contract, then it’s a case of waiting for all searches to be carried out, before the transaction is completed.
You found a property, you secured a mortgage with your bank or mortgage lender and the conveyancing work is completed. What happens on the day of completion? This is the day when the transfer of payment is made and the keys to your new home are in your hands. So the completion day is basically the move in day. The property is yours.
After completion, there are still a few loose ends that your property solicitor will need to tidy up before the transaction is effectively close. Some of the things your solicitor will do before closing the conveyancing file will be checking that documents have been properly signed and legally bound, that stamp duty has been paid (if applied), that land registry has been recorded, and sending you all the documentation and title deeds.
At DG Law we ensure that the conveyancing process runs as smoothly and as fast as possible. We do believe in a personable service and do create a close relationship with our clients. We aim to fulfil our obligations efficiently and within a reasonable time frame, keeping you informed of any issues at all times. If you are thinking of buying property, or if you found a property and have made an offer, please give us a call and we’ll help you through the process of buying your new home. SG
DG Law were fantastic throughout our purchase process. We had a short, fixed, timeline to
Venetia Lawson-Cruttenden [solicitor] is fantastic! She is always so thorough and efficient and gives you the
DG Law supported us through a very difficult contractual negotiation to achieve exactly the outcome
We were very pleased with the way that DG Law helped us on our transaction
Thanks for all the help from DG Law in pulling together our somewhat complicated loan.
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I needed understanding and experienced legal advice. DG Law provided an excellent service at a
My experience was second to none – the service was professional and personal. DG Law
DG Law always step up to the plate on our transactions and handle the various
DG Law was recommended to me and my partner and I received excellent advice –
Having worked with DG Law a number/couple of times now, I have been really impressed
DG Law were constantly at hand, and kept pro-active throughout the thorny process of getting
DG Law organised and ran a very useful session to help to make our team’s
DG Law came recommended to me and whilst setting up a new business it was
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