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 are searches, and how do they differ from a survey?
Searches are a set of enquiries carried out by your surveyor to various authorities such as the local council, HM Land Registry, etc., and focuses on the impact of the local area on your potential enjoyment of living at the property, while a survey (a HomeBuyer Report or Building Survey) is focused on the structural integrity of the home and its permanent outbuildings and constructions.
While each may throw up similar issues (such as missing planning consents or boundary issues), they are very different and achieve very different purposes.
Our solicitors at Homeward Legal are willing and happy to explain anything you don't understand in the conveyancing, because you need to know what you're getting for our competitively-priced fixed fee. Call our team on 0800 038 6699.
We are buying in Newport Pagnell, and have a conveyancing quote from you. May there be any additional costs?
Homeward Legal do not hide any hidden extra costs. Your conveyancing quote is an honest and accurate fee.
As a result of the fact that last year was second wettest year since 1920 I am thinking that property conveyancing searches aren't sufficient?
Flood searches conducted by your Newport Pagnell property lawyer will also include the more thorough flood search if it is felt necessary.
If you are concerned why not contact a next door neighbour.
How might Newport Pagnell conveyancing require weeks?
Conveyancing may be delayed even in ideal circumstances. Sometimes, these delays are regrettably beyond a lawyer's influence, Homeward Legal, however, aim to reduce their effect by proactively handling all enquiries.
For our mortgage lender, we have chosen Britannia - what will we need to be aware of?
Traditionally, solicitors could carry out mortgage-related work for most lenders. House buyers should consider that a small number of lenders have opted to reduce the size of their 'solicitor panel'. For buyers, this can result in significantly greater legal costs. We are able to act on behalf of most mortgage lenders.
We are buying a converted maisonette in a designated conservation area in Newport Pagnell, how do I find more details about the current standard of repair of the area?
English Heritage, a government body, have conducted a survey and created records about the condition (poor to good) of conservation areas in Newport Pagnell and across England in addition to the vulnerability. Conservation areas in Newport Pagnell are specified by Milton Keynes who maintain things like what can be developed to the stoppage of neglected buildings.
Fixtures and fittings include what?
House purchasers in Newport Pagnell will often be frustrated with the lack of formality over which fixtures and fittings will be included. Completion or agreement of a fixtures and fittings form is unfortunately often left to the last minute, when a dispute may jeopordise the transaction. This makes resolving any confusion between buyer and seller on this issue so urgent.