Stages involved in a purchase of residential property
The precise stages involved in the purchase of a residential property vary according to the circumstances and will generally include the following:
- Take your instructions and give you initial advice
- Check finances are in place to fund purchase and contact lender's solicitors if needed
- Receive and advise on contract documents
- Carry out searches
- Obtain further planning documentation if required
- Make any necessary enquiries of seller's solicitor
- Give you advice on all documents and information received
- Go through conditions of mortgage offer with you
- Send final contract to you for signature
- Agree completion date (date from which you own the property)
- Exchange contracts and notify you that this has happened
- Arrange for all monies needed to be received from lender and you
- Complete purchase
- Deal with payment of Stamp Duty/Land Tax
- Deal with application for registration at Land Registry
- Deal with any notice of transfer/charge requirements
How long will my house purchase take?
How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 6-10 weeks.
Our fees for a sale, purchase or re-mortgage depend upon the value of the property you are buying or selling, or the new loan being taken out and are listed below:
It can be quicker or slower, depending on the parties in the chain
For example, if you are a first-time buyer, purchasing a new build property with a mortgage in principle, it could take 4-6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 6 months. In such, a situation additional charges would apply.
To contact one of our specialist residential property team members simply email us at email@example.com or telephone us on 01883 347823. Or you can fill out our contact form or email our office and someone will be in touch within 24 hours.
Meet our Residential Property solicitors...
For a confidential discussion on Residential Property, call us on...
Monday to Friday 9:30am to 5:30pm
Regulated by the Solicitors Regulation Authority
Accredited under The Conveyancing Quality Scheme