Stages of the Purchase Process

How long it takes from an offer being accepted until you can move into your new property depends on a number of factors. On average the process can take between 8-12 weeks.

The time factor depends on a number of issues for example; there may be a large number of people or properties within a chain, you may be purchasing a new build property which could extend the move time by several weeks or months depending upon when the new build property will be finished.

You may be purchasing a leasehold property which requires an extension of the lease which can take significantly longer – between 2 and 4 months (additional charges would apply in these situations).

The exact stages involved in the purchasing of residential properties vary according to circumstances however below are typical stages;

  • Taking your instructions and giving you initial advice
  • Verifying your details ie identification checks etc
  • Receive contract from sellers solicitors
  • Obtain initial searches, local environmental, drainage and water searches
  • Check finances are in place to fund the purchase
  • Raise preliminary enquiries with sellers solicitors
  • Obtain planning documentation, compliance certificates, guarantees and other paperwork if required
  • Receive, check and go through the conditions of the mortgage offer with you
  • Advise and report on contract and send this to you for signature
  • Agree completion dates
  • Exchange contracts, carry out final land registry and land charge searches
  • Arrange for all monies needed for purchase are received from Lender or client
  • Complete the purchase
  • Deal with the Stamp Duty/Land Tax
  • Deal with the Registration at Land Registry
  • If leasehold property, advise freeholder of change of ownership, send required documents and pay registration fees.

OUR FEES ASSUME THAT….

  1. This is a standard transaction and that no unforeseen matters arise including (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction.
  2. The transaction is concluded in a timely manner and no unforeseen complications arise.
  3. All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.
Conveyancing Quality

For all enquiries please contact Gordons LLP who are appointed to assist with the closure of GC&A.

 

John Owen, Gordons LLP, 1 New Augustus Street, Bradford, BD1 5LL. Email: kingly@gordonsllp.com, Tel: 0113 227 0360.