Cirencester

01285 654875

 

 

 

Gloucester

01452 508800

 

enquiries
@daveylaw.co.uk

 

 

 

Cirencester

01285 654875

Gloucester

01452 508800

enquiries
@daveylaw.co.uk

 

Cirencester

01285 654875

Gloucester

01452 508800

enquiries
@daveylaw.co.uk

 

Costs

Residential Conveyancing Process and Timescales

 

HOW LONG WILL MY HOUSE PURCHASE TAKE?

The time it takes from your offer being accepted until you can move into your house will depend on a number of factors. Most transactions take between 6 and 10 weeks.

It can be quicker or slower, depending on the parties in the chain. For example, if you are a first-time buyer buying a completed new build property with a mortgage in principle, it could take 6 – 10 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.

Stages of the process

The key stages of the process include:

  • Taking your instructions and giving you initial advice
  • Identity checks including proof of residence and proof of funds
  • Checking finances are in place to fund purchase and contacting lender’s solicitors if needed
  • Receiving and advising on contract documents
  • Carrying out searches
  • Obtaining further planning documents if required
  • Making any necessary enquiries from seller’s solicitors
  • Giving you advice on all documents and information received
  • Going through conditions of mortgage offer with you
  • Sending final contract to you for signature and requesting 10% deposit where there is no related property sale
  • Agreeing completion date (date from which you own the property)
  • Exchanging contracts and notifying you that this has happened
  • Providing completion statement detailing balance due from you on completion
  • Arranging for all monies needed for the purchase to be received from lender and from you as per completion statement
  • Completing purchase
  • Dealing with payment of Stamp Duty Land Tax
  • Dealing with application for registration at Land Registry
  • Sending completed registration documents to you.

 

HOW LONG WILL MY HOUSE SALE TAKE?

The time it takes from accepting your buyer’s offer to completing the sale of your home will depend on a number of factors. Most transactions take between 6 and 10 weeks.

It can be quicker or slower, depending on how many parties are involved in the chain and their circumstances, such as whether they are first time buyers, cash or mortgage buyers, or moving from a rented property.

Stages of the process

The key stages of the process include:

  • Receiving instructions and giving initial advice
  • Identity checks and proof of identity
  • Obtaining title for the property from Land Registry or deeds holder if the property is unregistered
  • Preparing contract
  • You complete Property Information and Fittings and Contents Forms (Leasehold Information Form if Leasehold) as part of contract pack to be issued to buyer
  • Sending Contract pack to buyer’s solicitor
  • Buyer’s solicitor obtains mortgage offer and searches
  • Receiving and responding, with your assistance, to enquiries raised by buyer’s solicitors
  • Sending final contract to you for signature
  • Agreeing completion date (the date when the property passes to the new owner)
  • Exchanging contracts and notifying you that this has happened
  • Sending transfer documents to you for signature
  • Obtaining mortgage redemption figure (if applicable)
  • Preparing final completion statement to advise of net sale proceeds
  • Completing sale
  • Sending proceeds of sale to you after deduction of estate agent’s fees, legal fees and disbursements and any mortgage redeemed
Contact us today:   Cirencester 01285 654875     Gloucester 01452 508800     enquiries@daveylaw.co.uk

 

 

 

 

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Davey Law Limited is Registered in England and Wales under Company no. 07525008. A list of directors is available for inspection at the registered office 10-12 Dollar Street Cirencester Gloucestershire GL7 2AL. This firm is authorised and regulated by the Solicitors Regulation Authority no. 557291 and is a member of the Conveyancing Quality Scheme (CQS). Details of how to contact the Legal Ombudsman in case of dispute may be found at www.legalombudsman.org.uk

 

 

 

 

Davey Law Limited is Registered in England and Wales under Company no. 07525008. A list of directors is available for inspection at the registered office 10-12 Dollar Street Cirencester Gloucestershire GL7 2AL. This firm is authorised and regulated by the Solicitors Regulation Authority no. 557291 and is a member of the Conveyancing Quality Scheme (CQS). Details of how to contact the Legal Ombudsman in case of dispute may be found at www.legalombudsman.org.uk