After instructing your conveyancer to act on your behalf you will receive initial documentation which details the estimated costs of the entire transaction and the terms of service. Your conveyancer will then request draft contracts from the vendor; other documentation such as the Property Title may also be requested.
Upon receiving the contracts and any other requested documentation your conveyancer will run through the information and raise any necessary enquiries which could include:
• An Energy Performance Certificate
• The most recent Water Statement
• The Planning and Buildings Regulation Certificate
In addition, your conveyancer may conduct property searches to ensure any potential issues are uncovered. This can include:
• Local Authority Searches
• Environmental Searches
• Water and Drainage Searches
Most buyers will need to secure a mortgage to purchase a property. For security, lenders will arrange a mortgage valuation – which you will then receive a copy of, along with documentation detailing surveys carried out if necessary, to review. You will need buildings insurance as you will be legally responsible for the building after the signing of the contracts.
The signing of the contracts will take place when: all enquiries have been raised and satisfied, the fixtures and fittings form has been returned by the vendor, a completion date has been agreed with the vendor and you have arranged to transfer the deposit monies to your conveyancer.
Although the conveyancing process for buyers may seem complex, Property Transaction is here to make sure the process runs as smoothly and efficiently as possible. Get a sales conveyancing quote from the UK’s leading online conveyancing service by simply filling out the quote form below!