Purchase of Property
This is a guide to the work we will undertake on your behalf
in connection with the purchase of a property:
You will be kept in regular touch with progress of your matter
We will respond to telephone calls, faxes and e-mails on the
same working day or, if this is not possible, on the next
working day.
Letters will be answered within three working days of receipt.
You will be informed promptly and in advance of any unusual or
unanticipated expenses.
Bills, completion statements and copies of any land charge
certificates will be sent promptly.
Any money due to you will be sent on the day of completion or,
if this is not possible, on the next working day.
We write to the seller's solicitors requesting a draft contract
and papers.
On receipt of the papers, we will review and make appropriate
searches and raise appropriate "enquiries" about the property
and the contract.
We will make enquiries as to any covenants (restrictions or
obligations) which affect the property. We will want to make
sure the seller does own the property and has "good title" to
it.
We consider the terms of the contract and whether they are fair
to you. If they are, we will "exchange contracts" with the
seller's solicitors.
If you are obtaining a mortgage to assist you with your
purchase, we will make sure that instructions have been received
and a satisfactory offer is made. We check that any conditions
attached to the mortgage offer can be complied with before
completion.
We make any further enquiries about the seller's ownership of
the property before completion.
We make all appropriate title searches before completion.
We apply to your mortgage company for the mortgage money in good
time before completion. We may need to give them a "report on
title" to satisfy them that your title to the property is
sufficient to secure the mortgage.
On the day of completion, which is the day you can move in, we
make arrangements for the payment of the purchase price to the
seller's solicitors and obtain documents proving titles.
After completion we make sure that all appropriate stamping and
registration at H.M. Land Registry is completed.
Finally, the deeds are sent to the mortgage company or to you as
appropriate.
Throughout the transaction, any estate agents involved will be
asking us for information and we deal with them on your behalf.
Costs
For a property valued at up to £300,000 we charge £350 plus VAT.
You will also have to pay for 'disbursements' - that's items like search fees and other charges which we carry out on your behalf (we will tell you what these are from the start).
For leasehold properties there's an extra charge of £100.
For larger transactions our fees are 0.15% plus VAT. For example a transaction of £500,000, our costs would be £750.
