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 firstname.lastname@example.org 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.
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