Buying a Property

Before you find the property you want to purchase, ensure you are comfortable with the various fees you will incur (stamp duty, solicitors, removals costs etc.) and have thoroughly researched the financial options available to you to avoid unnecessary worries at a later stage.

By demonstrating to a potential seller your ability to proceed quickly, any offer you make will be taken more seriously and will give you a competitive edge over other purchasers competing for the same property.

• Put all offers you make in writing to the vendor’s (seller’s) estate agent to avoid any later confusion, incorporating within the letter the basis upon which your offer is made. For example, to include washing machine, carpets and curtains.
• Once an offer is accepted White and Hayward will issue a Memorandum of Sale to all parties. At this time, contact your solicitor and your financial advisor/bank/building society to confirm your instructions to proceed.
• Your solicitor will request a Draft Contract and will ask you for a payment to cover the cost of Local Authority Searches unless a HIP is available.
• Your financial advisor/bank/building society will ask for payment to cover the cost of the Survey/Valuation. 
• The vendor’s solicitor will send out a draft contract to your solicitor, together with various legal documents relating to the property i.e. fixture & fittings report, relevant planning/building consents and Land Registry documentation. Your solicitor will study the papers and raise further enquiries with the vendor’s solicitor if he/she feels there are any anomalies.
• Your bank/building society once satisfied with references and credit checks will study the Survey/Valuation and if all is acceptable, will send a copy of the mortgage offer to you and your solicitor.
• When your solicitor is in receipt of satisfactory replies to enquires from the vendor’s solicitor, your mortgage offer has been received and the Land Registry search has been completed, your solicitor will report to you with his/her findings and enclose the Contract of Purchase for your signature. At this point, your solicitor will request your deposit funds.
• Once your solicitor has received the signed contract and deposit funds they will contact the vendor’s solicitor to inform them that they are ready to exchange contracts. A completion date will then be agreed with you and the vendor.
• Your solicitor will now request your authority to proceed to an exchange of contracts. At this point the transaction is legally binding.
• During exchange of contracts, your solicitor will prepare the transfer of ownership with the Land Registry from the day of completion.

The above points are a general guide to the legal procedures involved. There may of course be deviations to these depending on various unexpected complications which can and do rise. Solicitors are there to help you, so do not be afraid to speak with them and ask any questions.