home conveyancing updates

KEY STAGES - PURCHASE

1. Details received - this means we have heard from the estate agent involved (or from the buyer or seller if there is no agent) with details of your purchase.

2. Retainer confirmed - you have confirmed that we are to act for you by signing and returning the papers we send you. Usually, we cannot get your purchase underway until you do.

3. Contract received - the seller's solicitors have sent the contact and other papers we need to us.

4. Searches in - We have requested all relevant searches (we do this online using the very latest technology called the National Land Information Service)

5. Mortgage offer received - if you are buying with the aid of a mortgage, we  have heard from the lender with full details and usually been asked to act for it as well as you.

6. Enquiries answered - any questions we have asked the seller's solicitors about the property, the deeds and searches have been answered satisfactorily.

7. Searches received - all searches have been returned and the results are satisfactory.

8. Seller ready - the seller is ready to proceed.

9. Buyer ready - you have signed the contract, given us a 10% deposit (not always needed if you are selling too) and told us to exchange contracts.

10. Exchange - contracts have been exchanged and completion (moving day) fixed for the day shown

11. Keys released - completion has taken place and the keys are available to you (usually from the estate agent)

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