Best Business Law Practitioners in Bebington

Until contracts are exchanged no dates are set for completion, either buyer or seller can pull out of the transaction. It may be possible to be aiming for a date 2-4 weeks in advance to look at completion. It is ideal to have at least one week between exchange and completion to confirm these arrangements.

If you are using a mortgage to purchase a property you will need searches as part of the legal process. We carry out a local search, which reveals information relating to work at the property that require building regulations or planning consent, or nearby projects which have need planning permission and large infrastructure projects. We also carry out a drainage search, which reveals the extent of the sewerage and fresh water pipework at the property, and an environmental search which reveals information such as risk of flooding, land contamination, or landfill etc.

The contract requires for you to insure on exchange of contracts. At this point it is said that you have a beneficial interest in the property. It pays to shop round for buildings and contents insurance and your solicitor can recommend a local insurance broker.

Our final report will request the deposit to enable us to exchange contracts, and provide our Client Account bank details to send the funds to. Please contact your bank to arrange a bank transfer for the deposit, as well as any balance to complete. Payment can be made by cheque, allowing 7 working days to these funds to be cleared. We cannot accept payment of balance to complete or deposit by credit or debit card.

Property registration information is now held electronically by the Land Registry. This means that electronic versions of the deeds are stored, rather than the paper versions which if lost can cause problems with selling the property. Following completion of your sale, it is unlikely there will be any paper deeds for the property.