We know that buying a property is a huge commitment and choosing the right solicitor is just as important. At Banner Jones, we have helped thousands of people in Sheffield, Chesterfield, Mansfield, Dronfield and London and across the country to purchase their new home.
The process of buying a house
The conveyancing process can seem overwhelming. At Banner Jones, we believe that our simple and hassle-free approach has helped thousands of people to relocate.
Step One: Instructing us on your behalf
Upon approval of your conveyancing quote, we will send you a “Client Care Letter”, this will give us permission to act on your behalf.
We will contact the seller’s solicitor to request property information which will include:
- Fixtures and fittings information
- Property contents information
- An energy performance certificate
During this time, we will start doing searches on the requested property. All mortgage lenders will require searches to be done. The search process can take time to obtain information from third parties. However, we highly suggest that you have a mortgage offer (if required) and a home insurance quote ready.
Step Two: Receipt of information
Once we have received all the information from the seller’s solicitor, you will need to have your deposit ready. In most cases, the deposit will be 10% of the property purchase price. You will be required to give your buying solicitor the deposit three to five working days before exchanging contracts. If you are buying or selling this may not be required as we usually take the deposit on the sale of your property.
Step Three: Enquiries
At this stage, we have reviewed all the information, identified any potential issues and dealt with any concerns. We will discuss the contract and resolve any problems you may have. If you are happy with everything, you can sign the completed contract.
Before the contracts can be exchanged, everyone involved must agree and confirm a suitable completion date. It is recommended that a completion date is confirmed by both the buyer’s and seller’s solictor, as this will avoid disapointment.
Step Four: Exchange of contracts
The exchange of contracts is legally binding between both parties. We will deal with requesting funds from your mortgage lender, complete any searches and request any outstanding balances required from you.
Step Five: Completion date
On successful completion of the transaction, the keys can be exchanged. Your conveyancing solicitor will take care of any Stamp Duty (if required) and register your ownership with the Land Registry.