Howes Percival Solicitors

1.Instructions Received

We receive the instruction and send written confirmation to the client about who will be dealing with the matter and details of our costs. We will also ask the client to complete a Property Information Form and a Fixtures Fittings & Contents Form (and additional information if the property is leasehold). We request other relevant documents (for example, planning consents, NHBC Certificate).

2.Obtain title documents

We apply to the existing mortgage lender for the title deeds to the property and also obtain copies of the deeds from Land Registry website.

3.Prepare draft contract

We send the draft to the client's buyer's solicitors for approval.

4.Answer pre-contract enquiries & queries on title

The other solicitors will have questions relating to the property which we must answer. We may need to refer to the client in order to answer some of these.

5.Exchange contracts

Once all the additional enquiries have been answered we will agree a completion date which suits all parties and exchange contracts with the buyer’s solicitors. This is the point where the transaction becomes legally binding.

We receive the deposit and the signed contract from the buyer.

We request a redemption statement(s) from the client's existing mortgage lender(s).

6.Completion

We receive the balance of the purchase price and send the title deeds to the buyer's solicitors. Completion is effected.

We redeem the existing mortgage(s) and settle all fees (for example, our fees, estate agent's fees).

We then send any remaining balance to the client.

1.Instructions Received

We receive the instruction and send written confirmation to the client about who will be dealing with the matter and details of our costs.

We will also request some money to cover search costs (for example, local search, drainage search).

2.Draft contract and searches

We receive a contract pack from the seller's solicitors and make enquiries of them if required.

We also carry out all necessary and relevant searches.

3.Send documents

We send a full property and mortgage report to the client, along with the mortgage deed and contract for signature.

We will also request any outstanding money from the client.

4.Exchange contracts

Once we receive the signed documents we will agree a completion date suitable for all parties.

We then exchange contracts with the seller's solicitors. This is the point where the transaction becomes legally binding. We pay the deposit to the seller's solicitors.

At this point we will also request the money from the new mortgage lender.

5.Completion

We receive the mortgage money and send the balance of the purchase price to the seller's solicitors. At this point the client is able to collect the keys.

Stamp Duty Land Tax is paid (if applicable).