Commercial Property
 
 

Residential Property

 

 

The department advises private clients on a wide range of legal issues. In an ever evolving market, we offer well informed advice in all aspects of residential property law.

Recognising that conveyancing transactions can be a stressful time for our clients, we work closely with other professionals and are committed to carrying out the transaction as efficiently as possible.

Your Purchase, Exchange of Contracts, CompletionYour Sale

Your Purchase
Your Solicitor will need to be advised of:–

  1. As soon as you have settled on a mortgage lender with whom you intend to proceed and advise them of any Broker's name, address and phone number.
  2. You may be unsure as to whether to have any form of private survey carried out for your own benefit rather than the valuation on behalf of your lender which is limited and only for their benefit, although you may be supplied with a copy. Whatever type of property you have decided to buy, this will probably be the largest personal acquisition that you make and therefore to safeguard yourself from any unknown surprises after you have completed your purchase you are well advised to commission a survey report for your personal benefit. Further advice can be given on the types and sources of economical surveys. Always advise your solicitor when your survey report has been received by you and ensure that your surveyor is asked to supply a copy direct to the solicitor.
  3. If you are buying a property jointly with another party give serious consideration as to how you wish to be registered as the owners of the property following completion. Further information on this subject is immediately available upon request.
  4. Consider as to whether you require any additional searches to be implemented by your solicitor over and above the generally obligatory Local Authority Search. i.e:-
    (a) Enviromental Residential Search - £39.00
    (b) Plansearch Residential – £30.00
    (both of these may be beneficial if you are purchasing in an area with which you are not particularly familiar or, if you have any specific concerns regarding the locality.)

    Should an envirosearch show that a property is in an area affected by Radon, we are able to provide further information on this subject.
  5. When viewing a potential property to purchase:–
    (a) attempt to make a mental note as to whether the property has been the subject of any structural alterations, extensions or additions and if so what the areas now comprise.
    (b) In order for loft conversions to be considered "a habitable room" they must comply with certain Building Regulation criteria, further advice available from your solicitor.
    (c) have windows been replaced or newly installed? If there are live fires ask when chimneys were last swept.
    (d) pay particular attention to the condition of the boundary structures (fences) and the line thereof, if there are irregularities in the physical shape of the plot advise your solicitor.

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Exchange of Contracts

In the normal conveyancing process relating to a simultaneous sale and purchase where there is a mortgage involved it is likely that an exchange of contracts will not be capable of being effected in less than four to five weeks of offers being accepted and solicitors instructed. Completion, however, provided agreed between all relevant parties in the chain, can be as short or as long a period as required provided that solicitors are given sufficient time to apply for and receive mortgage advance moneys from the relevant lenders. If there is a relatively long chain it is beneficial if you give your solicitor authority to request the lender to send the advance moneys to them on the day prior to completion in order that the chain of events takes place smoothly on the day and your physical move is not inordinately delayed. This is likely to cost you an extra day's interest on the mortgage funds.

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Completion

On the day of completion once the Seller's solicitors have received the purchase monies from your own solicitors the keys may be collected by you, normally from the Estate Agent through whom you are purchasing.

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