Jackson Quinn Solicitors - Residential Conveyancing

Sale	Purchase
Stage 1 - Getting Started
Once you have formally confirmed your instructions to us by signing the relevant documentation and providing us with money on account of costs and disbursements, we will make contact with the relevant parties such as the buyer’s solicitors, estate agents, mortgage lender etc.
Stage 2 - Agreement
We obtain all necessary documentation/information regarding the property from yourself and various other sources so that we can use the information contained in them to prepare the contract, or can provide it to others who are preparing a Home Information Pack for you. To this end, we will have sent you various forms to fill in about your ownership of the property - who owns the boundaries, whether you have had any disputes with your neighbours etc - and what fixtures and fittings are included in the sale price. Once the buyer's solicitors have received the contract and supporting documentation, whether in the form of a Home Information Pack or not, they must obtain the buyer's mortgage offer and satisfactory replies to any further searches and enquiries they wish to carry out, and will then be able to proceed to exchange of contracts. We will have asked you to sign the contract in readiness for this. We will also have obtained from your mortgage lender a note of how much is required to pay off your mortgage, and from your estate agent of how much their costs are, so that we know whether we will have to ask you for money to make up the required sum.	We obtain and check the contract, title and supporting documentation sent to us by the seller's solicitors to make sure there are no problems at the outset, at the same time making searches of such as the local Council, the relevant water company, holders of environmental information and The Coal Authority if necessary. If the seller has provided a Home Information Pack, the searches will form part of that. These searches will tell us, among other things, whether the local authority have given planning permissions or improvement grants, for example, which affect the property; whether the property drains to a publicly maintained sewer and how much of the drainage system is the liability of the householder; whether a claim for mining subsidence affecting the property has ever been made. If you are having a mortgage, the lender will always require these searches to be carried out. We check the details of the offer of your new mortgage to ensure that all the lender’s conditions are met, insurances will be in place when required etc and then meet with you to report on the transaction so far, obtain deposit funds and have you sign all the necessary documentation. The deposit is usually 10% of the purchase price, though it may be possible to arrange for a reduced deposit to be payable. Please note, we will ask you to let us have your deposit seven days before we expect to exchange contracts as we must be sure all monies used are cleared funds.
Stage 3 - Exchange
We will agree a completion date with you, your buyer and your buyer's solicitors and then exchange contracts. (Completion is the day your house stops being yours and you must move out) Exchange of contracts is when the agreement between you and the buyer becomes legally binding. Until contracts are exchanged, either party can withdraw from the transaction. Between exchange of contracts and completion we ensure the Deed of Transfer for the sale of your property, produced by the buyer's solicitors, is satisfactory and have you sign it ready, deal with pre-completion enquiries raised by the buyer's solicitors, and make sure everything is in place for completion	We will agree a completion date with you, your seller and your seller's solicitors and then exchange contracts. (Completion is the day the property becomes yours and you can move in) Exchange of contracts is when the agreement between you and the seller becomes legally binding. Until contracts are exchanged, either party can withdraw from the transaction. Between exchange of contracts and completion we prepare the Deed which transfers the property into your name, have you sign it in readiness, raise pre-completion enquiries of the seller's solicitors, make the necessary last minute searches of the Land Registry and Land Charges Department, and apply for your mortgage advance - also preparing a completion statement and obtaining any balance monies required from you. This is so we are sure everything is in place for completion
Stage 4 - Completion
On the day of completion, all you have to do is move out of the property, leaving the keys with the estate agents, and we will take care of everything else such as receiving the monies from your buyer’s solicitors, redeeming your mortgage, paying your estate agent’s bill etc.	On the day of completion, all you have to do is move in to your new home and we will take care of everything else, such as receiving monies from your mortgage lender and paying them over to your seller’s solicitors, submitting the Stamp Duty Land Transaction return and payment of any monies due etc
Stage 5 - Finishing Touches
Following completion, we will provide formal evidence of redemption of your mortgage to your buyer’s solicitors and assist with any enquiries raised by the Land Registry in connection with your buyer’s application for registration as the new owner of the property.	Following completion, we will obtain the necessary Certificate from H M Revenue & Customs to enable us to register your ownership and mortgage of the property with The Land Registry and then send the documents required by them to your mortgage lender, and the rest to you for safekeeping.
Please refer to out Frequently asked Questions section if you need further information, or contact our offices.

Residential Conveyancing

Sale

Purchase