TOP 6 QUESTIONS WHEN BUYING A PROPERTY:
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.
How much will it cost?
AThe purchase can usually be completed within four to six weeks unless there is some unforeseen complication.
How long will it take before we can get keys?
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.
I’ve never bought a house before so I’m wondering what are the steps involved?
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.
Will it be straight-forward?
AOnce the purchaser’s solicitor receives the contracts and map from the vendor’s solicitor
When should I get my engineer to inspect the house?
AUsually within a week or sooner once purchaser has life insurance and home insurance in place.
How long does it take to draw down the mortgage funds from the bank?
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