What’s the difference between exchange of contracts and completion?
When you exchange contracts, this means that you are agreeing to all the terms drawn up within the contract made between you on one side of the transaction, and the opposite party on the other side. It is from this point that you are legally obliged to go through with the transaction (unless you want to be subject to financial and/or legal penalties).
The completion of contracts is the point where you officially take over ownership of the property, receive the keys and can move in. All monies are transferred between the various parties and the conveyancing solicitor contacts the Land Registry to register the change of ownership to you.
Confused by the jargon in conveyancing? Let Homeward Legal's straightforward and clear service help guide you to as early a completion as possible. Try our online quote generator or call us on 0800 038 6699.
What makes purchase conveyancing work to take weeks to complete?
Gillingham conveyancing can be lengthy, Homeward Legal, however, endeavour to reduce the consequences of these delays whenever it is possible by pushing all parties involved. There are numerous reasons for delay, such as waiting for responses from third parties.
Would you recommend that I get searches for chancel liability when my partner and I are buying in Gillingham near a 12th Century 'parson's close'?
In Gillingham, where land was once owned by a lay rectors, new owners of that property may be obliged to subsidise repairs to an old church building. A chancel search will confirm whether liability for Gillingham properties is likely to exist. Your conveyancing solicitor will suggest an appropriate indemnity policy to address chancel liability. Ecclesiastical properties in Gillingham include St. Mary the Virgin, St Mary Magdalene, St Mark and St Luke The Evangelist.
I am interested in purchasing a building in Gillingham. How do I check if the building is in a conservation area?
Parts of Gillingham considered be of architectural or historic interest, like 18th century suburbs, may be recognised as areas of conservation. Your solicitor will be able to provide more details, in regard to relevant conservation area restrictions in Gillingham.
Our estate agent in Gillingham has suggested a conveyancing who they generally use. Should we use them?
The agent may recommend a law firm, however, such referrals must be compared with other local solicitors, or better-value firms found online, as there is a risk that an agent may choose whichever firm pays the most per referral, not the best solicitor for your needs.