OUR INDUSTRY BLOG

Exchange of Contracts - checklist   Under the crazy English homebuying system, until you reach Exchange of Contracts, both buyers and sellers are entitled to change their minds and pull out for any reason.  This can happen after many months of apparent...

Getting quotes for removals - before you exchange contracts   Unless you’re seriously considering doing all the heavy lifting yourself, now's the time to obtain quotes for removals. In most cases this needs to be done before exchange, because by leaving it any later...

Preparing for Exchange of Contracts - Who is responsible for insuring the property?    It seems to have taken forever - but at last you are almost at Exchange of Contracts - the stage when your purchase is safe. Your coneyancer-solicitor should now be in touch to...

  Last minute problems with flats and leasehold properties   Flats and leasehold properties are a lot more complex than Freeholds legally, as well as from a surveying perspective. The following issues can commonly cause problems as you approach Exchange:  ...

  Last minute issues with chains   Can you use your buyer's money for your deposit? Normally you find yourself as part of a chain of property deals. All these linked transactions need careful co-ordination so that, when the time comes, contracts can be exchanged...

  Insufficient funds for exchange Your solicitor will not exchange contracts until they are in receipt of funds for the deposit. This is typically five or ten per cent of the purchase price. So you now have to come up with the readies. They will also want proof of the...

  Disputes about what's included -  a common cause of deals falling through   When surveyors inspect a property their main focus is on the stability and safety of the structure, and whether the building functions properly. In a typical survey attention is also...

  Will your survey alert you to occupancy restrictions?   Hidden away in the Deeds (legal title documents) there can be all sorts of nasty restrictions, some of which can dramatically reduce the value of a property.  One such example is where residential...

  What if your surveyor or solicitor finds illegal building work?   It's not unusual to discover at the last minute that extensions or structural alterations don't have the necessary consents. In other words they're illegal. It also raises questions about the quality...

  Delays in answering preliminary enquiries           One of the first jobs for the buyer’s solicitor is to submit a long list of questions to the seller’s solicitor. These are standard questions printed on a form and include availability of mains services;...