W L
PROPERTY PURCHASES : POINTS TO CONSIDER
by Joshua Simpson , Real Estate Associate Solicitor at Aaron & Partners LLP
Buying a new home is stressful . Once you have found the right property , you need support to navigate the conveyancing process and miss any hidden rocks .
Here are a few points to help ensure the purchase runs seamlessly :
Finding The Right Solicitor You need to research your solicitor before instructing them - you need confidence that they can support you . You should always ask the solicitor for a quote at the outset . This should be written and clearly list their services and responsibilities to ensure that there are no hidden fees or unknown costs .
Some solicitors may add items for dealing with tax returns and registration of the property at the Land Registry to the headline fee so remember to compare like with like .
Know What You Are Buying It is important to find out as much information as possible about the property prior to exchanging contracts and committing to buy . Searches can reveal information which may affect the value of the property or your proposed use or development of it . The usual searches are :
• local authority search ;
• water & drainage search ; and
• environmental search .
Ask your solicitor about additional searches . For example , planning searches give details about the local area and applications to change and develop neighbouring properties .
When purchasing your new home , you need to consider if the house needs any essential work . A building survey will flag any issues with the condition of the property .
Always double check the Land Registry plan and ensure that the boundaries and features on the ground match those shown on the plan .
When Will We Be Completing ? Each purchase is different and timescales are dependent on factors such as :
• How quickly searches are generated ;
• Is there a mortgage offer in place ;
• How complex are the legal rights and obligations affecting the property ; and
• Is there is a chain of buyers and sellers swapping homes at the same time .
If you have specific requirements or a deadline you need to let all parties know as early as possible .
Remember , completion is not guaranteed until exchange of contracts . Either party can walk away at any time prior to exchange .
For further information contact : Joshua Simpson Real Estate Associate Solicitor Aaron & Partners LLP 01244 405524 Joshua . simpson @ aaronandpartners . com
50 wirrallife . com