STEP BY STEP GUIDE

The legal process of buying your New Home can be broken down into three main stages. You can use the following as a checklist to assist you in keeping track of your progress:
Stage A: BEFORE EXCHANGE OF CONTRACTS
Stage B: EXCHANGE OF CONTRACTS
Stage C: COMPLETION

Stage A: BEFORE EXCHANGE OF CONTRACTS
Seller’s Solicitor

	Asks you to complete information forms
	Sends out the contract to the Buyer's conveyancer with legal information
	Answers buyer's enquiries (if any)
	Asks you to sign contract and agree a completion date

Buyer’s Solicitor
 

	Requests your instructions and a sum of money on account of expenses
	Receives the contract, title information, boundary plan and other legal information from Seller's conveyancer and raises enquiries if necessary
	Arranges for local authority and any other relevant searches
	Receives mortgage offer from lender where applicable
	Reports to you on the information gathered and sends contract for signature; requests deposit (or uses deposit from sale, if any), agrees completion date with Seller's conveyancer and confirms ready to exchange contracts

Stage B: EXCHANGE OF CONTRACTS
Seller's Conveyancer

	Receives Buyer's deposit and signed contract from Buyer's conveyancer
	Obtains redemption (settlement) figure for your mortgage
	Approves Transfer deed and arranges for you to sign it before completion date if not already signed

Buyer's Conveyancer

	Sends signed contract and deposit to seller's conveyancer
	Prepares transfer deed and mortgage deed and sends them to you to sign
	Carries out final searches
	Prepares final accounts and requests any money payable by you before the completion date

Stage C: COMPLETION
Seller's Conveyancer

	Receives balance of sale monies and notifies Seller and estate agent so keys can be released to the Buyer
	Pays off outstanding mortgage if any, and estate agents' account
	Sends Transfer document to Buyer's conveyancer
	Sends balance to you or puts towards purchase (if any)

Buyer's Conveyancer

	Sends balance of money to Seller's conveyancer
	Pays Stamp Duty Land Tax (if applicable)
	Deals with all registration requirements at Land Registry
	Sends confirmation of registration to you and to your Lender (if you have a mortgage)

step by step