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Blackstones LLP
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Welcome and thank you for choosing to view our Property Department...
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We would like
to inform you of how the process of property transactions takes place and
generally how long they may take. We deal with
Residential and Commercial Property transactions of all sizes and values. Our
department would be happy to discuss any property matter you have in mind. We
shall outline below a typical residential freehold transaction - 1.
Instructions - You tell us to do
your conveyancing 2.
Exchange of Contracts - We
exchange contracts with your seller/purchaser's solicitor 3.
Completion - We send/receive the
purchase money for the property 4.
Registration - We register your
ownership of the new property The above is a
very brief outline of what is involved in buying a house. Delays and lack of information are
the main sources of complaints clients have of solicitors in conveyancing
matters. Our aim is to prevent delays and inform our clients at every step of
the process. If you instruct us you will be provided with our own booklet on
the conveyancing process explained. |
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FAQs What and when do I pay you? Sellers Buyers 1.
Searches fees for us to pay 3rd
parties on your behalf 2.
Your 5% or 10% deposit cheque
before exchange contracts and once your mortgage offer has been received 3.
Stamp Duty Tax payable to the
Inland Revenue 4.
Our costs for your conveyancing The balance of the purchase money
we will usually receive from your mortgage company, which needs to be
transferred to your seller on the day of completion. |
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8 weeks is the
minimum time estimate we usually give but this can depend on various factors.
There are a number of people involved in a transaction that can reduce or
extend the process and include the following - 1.
Your Purchasers / Sellers
Solicitors 2.
You or the Other Party 3.
Other buyers, sellers etc in the
chain who for a number of reasons are unable to proceed as quickly which has
a domino effect on the whole chain. This leaves the process going only as
fast as the slowest person. 4.
Estate Agents 5.
Mortgage Companies / Banks 6.
Mortgage Brokers 7.
Surveyors 8.
Local Authorities, Land Registry
or other 3 rd Parties providing search results We always
ensure the process moves as quickly as possible. You can help by having any
mortgage offer in place and returning to us completed SPIF & FF&C
forms if you're selling. |
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Can I call you? We will be happy to speak to you about your sale or purchase at any time. Our support staff will provide you with updates on your transaction(s). You will also receive update letters every other week. |
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When should I get a survey done? Once your offer has been accepted and your mortgage is being arranged then you should instruct a surveyor. All surveyors' reports will reveal some faults in a house which is to be expected. Depending on how serious the fault is you may re-negotiate the purchase price. |
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What will happen if I pull out after contracts have been exchanged? If you pull out then you will incur serious financial penalties. We will always obtain your written authority to exchange contracts before we go ahead to confirm you are happy with your purchase. |
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If the conveyancing doesn't complete will I have to pay anything? We will make a reasonable charge for the work we have done |
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Where and when do I pick up the keys? The keys will be available on the day of completion usually from the estate agent. Alternatively you may wish to arrange picking them up from the seller. |
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Call us for a free no obligation quote on - 01535 - 66 11 66 |
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