Buying a property can be a daunting and exhausting experience but that’s where an experienced conveyancer, such as ourselves, can make all the difference. Purchasing a property is very expensive and it therefore makes sense to ensure that you are fully aware of everything about the property you want to buy.
Conveyancing applies to the legal and administrative work that goes into transferring ownership of the legal title of a property from one person to another. It is a complex process and as a result, most people choose to use a professional.
The main steps in a property purchase
There are three main steps when purchasing a property and it is our job as your conveyancer to guide you through the process:
Stage 1 – Title Report and Contract Negotiation
This is the very initial stage where we collate, review and report to you and your lender (if any) on the legal title to a property including submitting searches and reviewing the results. We will also either draft (if we are acting for you as a seller) or review and amend if necessary (if acting for you as a buyer as we will receive the documents from the seller’s solicitor) the contract and transfer documents which effect the sale and purchase.
Stage 2- Exchange of contracts
This is the stage at which the buyer and the seller sign the contract that details the terms of the sale of the property. At this point, the buyer will pay a deposit (usually 10% of the purchase price) to their solicitor for onward forwarding to the seller’s solicitor. If the buyer pulls out of the sale after contracts have been exchanged, the seller may be entitled to keep the deposit.
Stage 3 – Completion and Registration
This is where the legal title of the property is transferred to the buyer, who then owns the property and can move into it. The seller, must move out on the completion date or before. Completion is usually intended to take place before 2pm.
We aim to make the process of buying and selling a property as stress free and easy for you as possible. As a Conveyancer, our role is to ensure that all the legal aspects of buying your property are taken care off.
“We wanted to thank DPM Legal for the excellent level of service they provided with our house sale. Renowned for being a very stressful process, we are pleased to say everything went very smoothly and this was all down to DPM Legal..... If you want stellar service – and lowered stress levels, DPM Legal is who you need to appoint.”
Although every effort has been made to ensure that the information provided in this article is accurate and correct, the information provided does not constitute any form of advice, recommendation or opinion. DPM Legal Services Limited accepts no liability for any loss or damage, howsoever caused, as a result of any reliance on any information provided.