Buying And Selling Residential Property

Select An Area... What is involved: the Conveyancing Process? Selling A Property Buying A Property ----- Investigation Of Title ----- Why Do All Those Searches? ----- Your Mortgage When Is A Survey Needed? Finally On The Day Of Completion How Long Does It All Take? What Will It Cost? Fraud And Money Laundering Final Reminders

Finally On The Day Of Completion

This will be hectic for you, but equally for us. If you are both buying and selling we will not be able to complete the purchase of your new property until we have received the sale proceeds of your present property. If the chain is lengthy it can take some time for the money to pass through the hands of the various solicitors and this can add to the delay. It can also add to the frustration, especially if your removal van is full of your furniture outside your new house.

For our part we do all we can to ensure that completion does take place as quickly as possible. We have a computer terminal linked to our bank so that we can check regularly to see if the money on your sale has arrived. We can then instruct our bank via the terminal to send out the money immediately on your purchase. Delays in this part of the transaction are therefore kept to an absolute minimum as a result.

When you are selling your property we will pay off your existing mortgage. We will also pay your estate agent, once you have authorised us to do so.

Once we have completed the purchase of your new property we will then have to apply for title to be registered at H M Land Registry. This usually takes five to eight weeks. When the title is registered we will send you a copy to keep for future reference.

The articles on legal topics published in these pages are for interest only and are necessarily general in their terms. You should not act (or refrain from acting) on the basis of the information given without specific advice, as the principles and laws concerned may change, and their application will vary according to the particular circumstances.