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Buying a Property
We handle the legalities of purchasing your property, so you can relax and look forward to moving in.
Home Buying and Property Purchase Solicitors, Essex
Whether you are buying your first home or relocating, purchasing a property can be both an exciting and daunting process.
You need a reliable and thorough conveyancing solicitor to make sure things go smoothly. We take care of the legal side of things, so you can focus on getting ready to move.
What is the conveyancing process?
When you are ready to make an offer on a property, you should instruct a conveyancing solicitor so that you can proceed without delay. There are several stages to the legal conveyancing process that your solicitor will complete, including:
● receipt and review of the formal agreement to sell, plus the property information and fitting and contents forms● carrying out searches to confirm the property’s boundaries and any other essential information● arranging a completion date● transferring your deposit payment and mortgage funds● compiling the completion statement, transfer deed and mortgage deed● conducting exchange● managing any Stamp Duty Land Tax owed
Enquiries
As part of the conveyancing process, your solicitor will raise queries to uncover any legal issues that could affect the property. It is essential that any matters that could affect your decision to buy the property, or your lender’s decision to mortgage it, are addressed before contracts are exchanged.
Your solicitor will carefully review all the information they receive throughout conveyancing for possible problems and contact the seller’s conveyancer to clarify as needed. Once they are satisfied with their findings, they will report all the details back to you and confirm to your lender that the property is adequate security for their loan.
Are you ready to make a property purchase?
Property Purchase Lawyers for clients in Essex & East London
Call us to learn more about the conveyancing process.
Buy your home with confidence
You can rely on our eye for detail, prompt action and regular communication
Buying a property is exciting, but it can also be stressful. You can feel overwhelmed by the process and worry about whether you are making the right choice. At Hanson Woods Solicitors, our competent conveyancing team are here to reduce your burden. We handle all the legal issues associated with buying a house and ensure the property you purchase is mortgageable and saleable.
We know you want to move into your new home as soon as possible, so we work swiftly and keep you up-to-date throughout the conveyancing process. We are rigorous in our searches and enquiries, so you can purchase with certainty.
Buying a property FAQs
At what point am I legally bound to the purchase?
You can withdraw from the purchase at any time, and for any reason, up until exchange. There is no penalty for pulling out. Keep in mind that the seller is entitled to do the same.
What is the difference between exchange and completion?
Exchange is when contracts are exchanged between you and the seller, and you become legally bound to purchase the property. Completion is when your solicitor transfers the purchase sum to the seller’s solicitor and legal ownership of the property is transferred to you. You can then move in.
How is a completion date decided?
Once you and the seller have signed the contracts, your solicitor will contact your mortgage lender to confirm a date for your funds to be released. Your solicitor and the seller’s solicitor will then consult and agree a completion date between you.
Call us
If you are looking to instruct a conveyancing solicitor, or just want to know more about the legalities of purchasing a property, Hanson Woods Solicitors would be glad to assist.
We routinely act for clients in Essex, East London and beyond.