Buying
Purchase agreed
Exchange of contracts
Completion
Regardless of whether you are a first time buyer or you have bought many properties in the past, Raleys specialist property lawyers are here to help you through the complex process involved in purchasing a property.
If you would like to speak to a member of the property department about this service and the benefits of using Raleys for your property needs, please call our dedicated helpline on 01226 603136.
Purchase agreed
Now that you have agreed a price with the seller of the property, you are ready to instruct Raleys. After engaging Raleys to deal with your purchase, we will receive the contract package from the seller’s solicitors. This should include all the useful information we need to start checking the details of the property. This contract package also allows Raleys to apply for or to view your searches, such as local authority, water, and mining (if required) etc. Some of these searches vary in the time they take to be processed and can take up to 4 weeks in some cases. Electronic searches can be obtained for a small extra charge.
We will consider the title deeds and the results of the searches for you and your mortgage lender to ensure that your interests are protected. We will ask the seller’s solicitors questions (enquiries) about the property and the documentation.
Exchange of contracts
Once you and Raleys are satisfied with all the details and information concerning your purchase and contracts have been signed, we will ask you to provide a suggested completion date for when you will want to move into your new property. Once the date has been agreed, Raleys will be in a position to exchange contracts with the seller’s solicitors. When contracts are exchanged the sale is legally binding and the dates are fixed leaving you to prepare for the day of completion.
Completion
The completion date is the day you take legal ownership of your new home and receive the keys. Raleys will receive the funds from either yourself or your mortgage lender and forward them on to the seller’s solicitors. Once the funds have been received by the seller’s solicitors, the property is officially yours so you can pick up the keys up to your new home and move in. Raleys will also have to register your new mortgage with the Land Registry and send your deeds to your mortgage lender for safe keeping.
