Conveyancing Work Outline

Purchasing a property

 

• Obtaining Title Deeds, Documents and a draft Contract from the Sellers Solicitors;
• Obtaining Replies to Standard Enquiries, a list of Fixtures and Fittings and Contents and Property Information.
• Carrying out various searches to include a Local Authority Search. Drainage Search, Environmental Search, Coal Mining Search , Commons Registration Search, Chancel Liability Search, Index Map  Search and any other  searches that might be relevant.
• Investigating  the title to the property including the conducting of searches with respect to title and local government information and reviewing replies to pre-contract enquiries
• Negotiate with the other side in the transaction the contract of sale
• Negotiate a transfer document
• Advise you in respect of your mortgage offer and any related conditions
• Prepare a report on title
• Proceed to exchange of contracts and then completion of the transaction
• Arrange the transfer funds by telegraphic transfer and pay relevant taxes such as SDLT
• Prepare and submit to HMRC appropriate Stamp Duty Land Tax form
• Register the purchase and mortgage at the Land Registry

Likely timescale: 4-8 weeks

 

Selling a Property

 

• Obtaining your title deeds and documents, preparing a draft contract and sending it to the proposed purchasers solicitors for approval.
• Sending to the Purchasers Solicitors Property Information Forms, Fixtures and Fittings and contents forms.
• Proceeding to exchange of contracts and completion and thereafter redeeming any mortgage on your property.

Likely timescale: 4-6 weeks

If you require further details in respect of buying and selling a property please download or view the legal guides on our website www.qualitysolicitors.com/johars.

 

Mortgage

 

• obtaining copy Mortgage Offer and carrying out instructions of the mortgage company/lender
• obtaining your signature to the mortgage deed;
• you will be required to attend at our office and show some form of identity;
• obtaining mortgage money and obtain redemption figure of existing mortgage(s);
• completion and either obtaining balance from you or paying out any surplus;
• registering your mortgage at the Land Registry.

Likely timescale: 4-6 weeks

 

Re-mortgage

• upon receipt of the mortgage instructions from your new lender these are checked and then we ask you to sign the mortgage deed.
• we obtain a redemption figure from your existing lender.
• we arrange for search indemnity (providing that it is allowed) and we request funds for completion.
• we obtain the money from your new lender, pay off your former lender and send the surplus (if any) less our costs to you.
• we register the new mortgage with the land registry and the old mortgage is removed using form DS1 or END1.

Likely timescale: 4-6 weeks

 

Transfer of Equity

 

• Obtaining title deeds
• Obtaining instructions from mortgage company as to their requirements and conditions.
• Preparing Transfer Deed

 

Leases

 

The procedure is somewhat different, although in certain respects similar, if your transaction is leasehold. There are different enquiries which are usually made and it is our job in addition to the matters referred to above to check title and make sure all normal commercial leasehold and other enquiries are answered before advising you whether or not to proceed with your transaction.

 

Acting for the Landlord

 

• obtaining title deeds and documents and sending draft lease to your tenant's solicitors for their approval;
• obtaining replies to enquiries from you and a list of fixtures, fittings and contents, either included or excluded from the lease;
• sending approved draft lease to your mortgagee for approval and consent;
• agreeing the terms of the lease i.e. completion date and exchange of lease;
• arranging for the counterpart of the lease to be stamped forwarding of the completed lease and other title documents to the bank if property mortgaged;

 

Acting for the Tenant

 

• obtaining draft lease and copy title documents from the landlord and applying for and considering local search;
• checking that the landlords have a good title;
• forwarding enquiries before lease and/or environmental enquiries;
• agreeing the terms of the lease;
• when everyone is ready and the completion date has been agreed with the landlords, exchanging lease;
• completing your lease and arranging for the same to be stamped;
• registering your lease at the Land Registry where applicable.
• we will forward the lease to you after completion and/or registration (or we can store it for you);

 

General

 

If you are purchasing or leasing a property please note that we strongly advise that you obtain a full survey with comprises a detailed report on the condition of the property you are purchasing or leasing. Please note that the mortgage valuation survey is not a report on the condition of the property.

 

We will not be responsible for:

 

• Undertaking an physical inspection of the property
• Advising on the valuation of the property
• Advising on financial arrangements including the suitability or conditions of your mortgage
• Advising on environmental liabilities
• Advising on planning matters