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Buying a house with Dale and Co. - Lincoln Conveyancing Solicitors
Traditionally a house purchase takes 6 weeks, we have completed many in less, others take longer.
Buying a home is often one of the largest purchases you will make so ensure that it is as stress-free as possible.
Your offer and searches
The first step of buying a property. Usually you make an offer on a property and this will be accepted or rejected. Sometimes an offer will be modified if a survey reveals a defect in the property. The sellers solicitor will send us a Contract Package, confirming the seller is the owner and giving details about the property such as responsibility for boundaries and what is included like fixtures and fittings. From this, we will be able to check any queries about the property. At this stage we will also begin to carry out various searches such as the Local Authority search and an Environmental search.
Next we will receive instructions from your Mortgage provider, and you will receive your mortgage offer
Your contract and exchange
The second step in your property purchase. Now you can sign the contract and we will require your deposit. Your completion date will be agreed.
Once all documents are completed and any deposit is in order, contracts can be exchanged. At this point neither party can withdraw or alter the completion date without incurring large financial penalties. You should have insurance in place.
Before your completion date we will carry out final searches and request your mortgage advance.
Completion
The third and final stage of your property purchase. On completion the balance of the purchase price is paid and we receive the title deeds and transfer document. You can now collect the keys and move into your new home!
All that remains is for us to register your purchase and pay stamp duty, if applicable. Once this is paid and your title is registered we will confirm registration to your mortgage provider. If you purchased with the aid of a mortgage we can store your deeds at our office or forward them to you for safekeeping.
As a guide, the general rates of Stamp Duty Land Tax (SDLT) for residential property purchases are:
| Price of Property |
|
Stamp Duty (% of the price of the property) |
| Up to £125,000 |
|
0 |
| Over £125,000 to £250,000 |
|
1% |
| Over £250,000 to £500,000 |
|
3% |
| Over £500,000 |
|
4% |
We calculate the Stamp Duty and complete the form for you FREE of charge, unlike other Solicitors.
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