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Grayfield Solicitors

  • enquiries@grayfieldsolicitors.com
  • 148 High Road Romford Essex RM6 6NT
02085038424
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Checklist For Buying

Checklist For Buying a Property

1. i. Find property

   ii. Obtain mortgage offer

Please confirm the current position of your mortgage.

To confirm good title: your solicitor carries out the following:

2. SEARCHES

  • Local Authority Searches: This will reveal the planning history and any adverse entries against the property. In cases where time is of the essence, we may be in a position to carry out a Personal Search. However, the accuracy of a personal search depends on the diligence and ability of the Search Company and is not guaranteed by the local authority. This means that if the wrong reply is given you will not have recourse to the local authority but should have a claim against the search company’s insurers.
  • Environmental/ Drainage Searches:  This will reveal, whether your home is at risk from flooding, subsidence or built on a contaminated or industrial site, coal mine, quarry, land fill, waste sites or had been used in the storage of hazardous substances.
  • Land Registry Title Search:
    This confirms the current position of the title at H M Land registry.

APPROVAL OF CONTRACTS OF SALE AND PRE-CONTRACT ENQUIRIES BY SOLICITORS: -

At this stage we will send you a report on investigations prior to exchange of contracts, together with our invoice and completion statement to enable you arrange to send us the funds required in time for exchange and completion. You will be required to attend our offices to sign documents such as the Contract, Legal Charge, and any other relevant documents. Youarealsorequiredtopresentdocumentsconfirmingyouridentityandaddress e.g., Passport / driver’s license / bank statements/ utility bills.

4. EXCHANGE OF CONTRACTS: –

A deposit (usually 10%) is paid to the seller’s solicitors and the signed Contracts are exchanged. This means both parties are now legally bound to buy and sell. A date for Completion is agreed at this point. We would then send the lender a Certificate of Title confirming exchange of contracts and requesting the release of the mortgage advance for the agreed Completion Date.

5. FURTHER SEARCHES: –

To ensure that good title is passed on registration:

  1. Bankruptcy Search on the purchaser’s name.

  2. Priority Search – to indicate the lender’s pending interest in the property

    prior to actual registration of the charge.

6. COMPLETION: –

This is when you pay the balance of the purchase price and get the keys to your property.

7. POST COMPLETION: –

We will arrange for the payment of:

  1. Stamp Duty

  2. Registration of your Title and the Lender’s Charge on the property.

We will forward copies of the Title deeds to you and the originals are sent to your Lender to hold as security.