Buying A New Home

What to ask your solicitor before buying a new home

Regardless of whether it’s your first home or you’ve simply decided to make a change, buying a property is a big step for anyone. There are a host of practicalities to sort out, but one major thing you’ll need to think about is what legal help you require during the process.

We’ve compiled a list of some of the top questions that you need to ask your solicitor before you go ahead and make that purchase.

What is conveyancing law and how does the process work?

Conveyancing law is the process that takes care of the legal side of moving and ensures that the “legal title” to the property passes from the seller to the buyer.

Upon instruction your solicitor will draw up a draft contract or terms of engagement with you and supply you the charges and deposits that you’re going to need. They will then write to the sellers solicitor and request a copy of the draft contract and any other documents needed.

They will also undertake property searches with local authorities and utility companies to ensure there are no issues that weren’t picked up when viewing or surveying was taking place. Whilst some of the searches they undertake are routine, there may be some that are more specialised and tailored to the requirements of your mortgage lender.

Once the checks are complete your solicitor will then liaise with sellers solicitor and set about exchanging contracts and working towards completion.

Once completion has taken place, the solicitor will then ensure there are no loose ends and register you as the new owner of the property with the land registry service and send your title deeds to your mortgage provider.

When should I instruct a solicitor?

The process begins when your offer gets accepted on a property and that is the point which you’ll need to engage a solicitor.

Is there anything I need to do?

Once you instruct a solicitor most of the work will be taken care of. However, you do need to find out whether the property is leasehold or freehold and if you are purchasing a leasehold, you must find out how long is left on the lease. It’s also your duty to ensure you have a mortgage offer in place, any surveys are completed and that you have arranged buildings insurance.

What’s the cost?

Costs will vary depending on the type of property you’re buying, the nature of the lease and of course the fees of the individual solicitor. However, it’s worth noting that cheap doesn’t always mean the best value and since this is one of the biggest financial outlays you’re going to make, it’s important you choose a solicitor that will do the job right. That being said, it always pays to shop around so make sure that when you gather quotes that you get them like-for like and that you get all the firms fees including VAT and disbursements before you start your comparison.

What do I have to pay if the sale falls through?

Not everything goes according to plan when it comes to buying and selling houses and there are times when a sale may fall through. Check with your solicitor from the very beginning about how much you’ll need to pay if the move doesn’t go ahead. Even if the sale doesn’t go ahead your solicitor may have already done a substantial amount of work so it’s only fair that they get paid for that.

How long will it take?

This is almost impossible to answer since each process will be different. The average time once an offer has been accepted is 12 weeks. Try to be flexible but do keep on top of things as sometimes people in the process need a gentle nudge.

At Alan Batt Estate Agents we can help provide you with details of trusted partners that will make the process as simple as possible.

If you want to discuss any Sales or Lettings issues in our local property market just email on the Ask Alan section of our new website. http://bit.ly/1JMmIWA