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

Final Reminders (Cont...)

Endowment and Life Insurances Policies

You will be on risk to complete the purchase of the property with effect from the date when contracts are exchanged. It is important therefore that any life insurance policy is ready to be put in force immediately on exchange of contracts. Often this will be done by your bank or building society for you. Unless you give us instructions to do so however you should make arrangements yourself with your own broker or directly with the insurance company to ensure that all will be ready for the policy to be made effective from the date of contract.

Buildings Insurance

The same comments apply in relation to buildings insurance. If you are having a mortgage on your new property then normally the bank or building society will cover the property automatically. If you have arranged for your own cover however you should ensure that the policy will be in force with effect from the date of contract.

Television Licence

You should update your television licence with your new address. Contact TV Licencing, Barton House, Bond Street, Bristol, BS98 1TL. Telephone (0117) 937 7500.

Keys

In relation to the property that you are purchasing you would normally make arrangements to collect keys directly from the seller or from the seller's estate agents. If you have any difficulties in obtaining confirmation from either the seller or the agent as to where the keys are you should contact us immediately.

Please let us know what arrangements you will be making for handing over the keys of your property be it either directly to the buyer or through the agent. If you intend to hand over the keys personally to the buyer this should not be done until such time as you have checked with us that completion has taken place and the buyer's solicitors have paid over to us the balance of the purchase price.

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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.