TOP 6 QUESTIONS WHEN BUYING A PROPERTY:

Q
How much will it cost?
AWe have a standard fee for a purchase but our fee is also dependent on the value of the property and the complexity of the title issues arising.
Q
How long will it take before we can get keys?
AThe purchase can usually be completed within four to six weeks unless there is some unforeseen complication.
Q
I’ve never bought a house before so I’m wondering what are the steps involved?
APurchaser pays booking deposit to auctioneer; on receipt of contracts from vendor’s solicitor purchaser’s engineer inspects property and map and purchaser’s solicitor raises any relevant pre-contract enquiries; purchaser signs contracts and pays balance deposit; purchaser agrees a closing date with vendor; vendor signs contracts and returns one copy to purchaser’s solicitor; draw down mortgage funds from bank; transfer purchase monies to vendor’s solicitor in exchange for keys.
Q
Will it be straight-forward?
AYes, usually but there may be some complications caused by e.g. a mapping error, a required right-of-way, drainage issues, subsidence; matters highlighted by purchaser’s engineer’s report; septic tank; planning matters; extensions to the property.
Q
When should I get my engineer to inspect the house?
AOnce the purchaser’s solicitor receives the contracts and map from the vendor’s solicitor
Q
How long does it take to draw down the mortgage funds from the bank?
AUsually within a week or sooner once purchaser has life insurance and home insurance in place.

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