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We explain the entire legal process of a home move, so that you can understand it all a bit better. Our guide takes you through each step and should answer any questions that you might have.
1. Your home sale - When your property sale is agreed, it is up to you to let us know the details of your solicitor. This is so that our team can send the correct paperwork.
2. Getting started - To start with the solicitor will give you a formal instruction form as well as accompanying documents which allows them to get all the relevant data that they need about your home and you. When this is all confirmed and you decide to go with a certain solicitor, the transaction can then proceed.
3. Your property purchase - The legal work involved with your purchase should all be handle by your solicitor, you will need to provide us with the details so that we can reach them. Your solicitor will also get in touch with the selling solicitor to discuss the terms of the exchange.
4. Your purchase searches - When your newly appointed solicitor receives the contract documentation from your sellers’ solicitor, they will be able to affect the necessary searches of the Local Authority, Water Authority and Environmental Agency.
5. Mortgage information - The mortage involved with your purchase is an important part of the exchange and your lender will need to send you and your solicitor the mortgage offer. The responsibility of explainging the terms & conditions of the offer lies with your solicitor, so they will take care of that. Your signature of approval will be needed for the Contract documentation and Mortgage Deed.
6. Contract exchange - This occurs between both you and your sellers solicitors , and is typically carried out over the phone. Following exchange, your signed contact is forwarded to the other party’s solicitor/conveyancer and they in turn will send their party’s signed contract to your solicitor. At this point, both parties are legally binded to complete the exchange.
Your move completion
When it is time for the legalities to be completed, your solicitor will be busy on the final day:
• Organising the paperwork
• Discharging your mortgage and/or draw-down funds for your new mortgage package
• Paying the fees on your behalf as per the Terms of Agency Agreement that you have signed
• Arranging the legal documentation to be signed for the transfer of the property at H M Land Registry and register your ownership
• Paying your Stamp Duty to the Inland Revenue
Payment of fees
Before the legalities can be confirmed and completed, you will be required to pay any charges that are owed to your solicitor, so that the funds can be cleared in time for legal completion. Their fees and disbursement costs will be deducted from the balance at legal completion, as well as your Stamp Duty. After all of this is complete, you can then organise the time to pick up the keys to your new home.