Moving home is one of the most stressful things you can do. It can take over your life and make you feel that you have little or no control over the process. Rachel Harlin, a licensed conveyancer at Harding Evans Solicitors explains some of the important aspects to consider when buying and selling a home.
 

1. Why is it important to instruct a lawyer?
When purchasing a house it is essential that you establish all the facts about the property and whether there are any matters which you need to be aware of which could ultimately affect your enjoyment of the property following completion. The conveyancing process goes through many stages before your lawyer is able to confirm that the legal title to the property is satisfactory and that there are no restrictions against using the property for the purpose which you intend.

Your lawyer is qualified to interpret the legal jargon in the title deeds and explain the nature and consequences of any restrictions e.g. whether the property has or is subject to any rights of way. They can also explain the terms of the contract to you. In addition, if you are purchasing the property with the assistance of a mortgage then your mortgage lender will require that you appoint a legal advisor to act on your behalf.

2. What searches need to be undertaken?
You will always require a local search to establish a number of important facts e.g. whether there are any planning restrictions against the property or whether there are any road proposals planned in the near future. This is why the local search plays a crucial role in helping you to decide whether or not to proceed.

It is also advisable to carry out a drainage search and an environmental search. Your lawyer will confirm with you at the outset of the transaction what searches will be necessary. Whilst some of the searches are optional your mortgage lender will require certain searches as a condition of your mortgage offer and they will be unwilling to proceed until these searches are carried out and satisfactory results are received.

3. Should I pay for a survey before buying the property?
Your mortgage lender will require that a valuation of the property is carried out on their behalf which will confirm whether or not the property is suitable for lending purposes. However, it is advisable that you also have a Homebuyer Survey or full structural report carried out on your behalf. Whilst your lawyer will be able to confirm that the legal title to the property is satisfactory the investigations which they will carry out on your behalf will not reveal whether the structure of the property is sound. Once you have completed your purchase you will be fully responsible for any repairs required and will not be able to claim any costs back from the Seller.

The old saying "let the buyer beware" still applies. A survey will confirm whether any urgent or non-urgent repairs will be required to the property. It will also confirm whether any further investigations should be carried out. This will help you to consider what you are letting yourself in for and whether you will be able to afford the maintenance and upkeep of the property.


4. What happens on completion day?
Completion is the moving day. Monies will need to be transferred between each party in the chain to complete. The process will start with the buyer at the bottom of the chain who will obtain their mortgage funds. Once these are received the purchase price will be transferred to the next party in the chain. Once this has been done the first purchaser will be deemed to have been completed and will be entitled to the keys to the property. Monies then move from one party in the chain to the other until it reaches the top at which time all parties will have completed. The keys are usually obtained from the Selling Agents once the Seller has vacated the property. However, the property becomes in the legal ownership of the Buyer once the purchase monies are received by their legal advisor.


5. Why can it sometimes take so long to move house?
Whilst you may feel that your lawyer is not actually doing anything, things do happen behind the scenes. They will be obtaining the contract documentation, requesting searches and making additional enquiries which all takes time. For example a local search can sometimes take up to 2 weeks to be completed and a contract package may take time to be received from the Sellers. But be assured that as we do not get paid until completion we will be working hard to ensure that the matter does get completed on time with as little stress for the client as possible.