RESIDENTIAL CONVEYANCING

Conveyancing is the process by which legal ownership of property is transferred from one owner to another

BUYING YOUR PROPERTY
We will:

• Raise pertinent enquiries with the sellers solicitors to obtain information about the property e.g. boundary issues, disputes with neighbours, recent building works.
• Check the contract and Title Deeds for any issues that could compromise your position as legal owner of the property or affect its value e.g. onerous covenants, rights of way, defects in title.
• Carry out appropriate searches (which may include a Local Authority Search, Drainage and Water Search, Environmental Search): the results of which are carefully examined to ensure there are no matters of concern.
• Check historical mining records for shafts or mine workings near the property.
• Ensure satisfactory arrangements are made by the sellers solicitors to cancel any previous mortgages registered against the property.
• Arrange an appointment to discuss all matters with you in detail when the searches and enquiries are completed (and, if applicable, you have your Mortgage Offer). If you are happy to proceed contracts can then be exchanged which makes the transaction legally binding. On exchange of contracts the completion date is agreed and a deposit is usually paid of 5-10% of the purchase price.
• Arrange payment on completion of the balance of the purchase price. The ownership of the property will then transfer to you. You can collect your keys and gain access to the property.
• Pay any Stamp Duty Land Tax which is due and attend to you being registered as the owner of the property with the Land Registry.

If you require a mortgage Milburns can assist you through our connection with a reputable independent financial advisor who will consider the whole of the market and recommend a mortgage tailored to your needs.

If you are buying a property with the assistance of a mortgage:

• The mortgage company will appoint a valuer to determine the value of the property. Please note that the basic mortgage valuation report is not a full structural survey. We would strongly recommend that you appoint a surveyor to do a more detailed report in order that you can satisfy yourself that the property is structurally sound and that any necessary specialist reports are carried out e.g. electrical surveys, central heating assessments. If you would like us to recommend a surveyor please do not hesitate to get in touch.
• When the mortgage company’s formalities have been completed they will send written confirmation of the mortgage to you and to us. This is usually known as the Mortgage Offer.
• On receipt of the Mortgage Offer we will ensure all of the mortgage company’s requirements are dealt with and we will explain the terms of the mortgage to you.

Click for more information about selling your property and our staff who can help you with your conveyancing.