Property conveyancing solicitors near you.
Be it your forever dream home, an investment property, your first home or a home away from home, MG Legal’s team of expert property conveyancing solicitors have got you covered. We deal in all aspects of residential purchases and are on hand to assist you throughout the process, with fixed-fees and friendly advice.
Why choose MG Legal?
Our property solicitors understand that purchasing a property is an extremely exciting time, so, why let the legalities rain on your parade? Leave the conveyancing to our property experts who will guide you through the process, fuss free. This is in order that you can focus on the excitement of acquiring your new home with the help of our team who work with you, not just for you.
Stages of purchasing a property.
1. The estate agent aids the seller in securing a buyer for the property, agrees the price and writes to the solicitors with the details of the property and the parties involved. This is known as the memorandum of sale.
2. Each solicitor then writes to their own client with their terms of business and client care documentation, confirming their instructions and fees in the matter. To protect against property fraud, clients are also asked to provide ID to prove their identity, and that they are who they say they are.
3. At this point, you will also be required to provide proof of funds documentation. This is to provide confirmation as to how you have acquired the funds being used to facilitate the transaction, so it is clear they have not come as proceeds of crime. You should also, where necessary, confirm mortgage arrangements, any gifted elements and help to buy funding that may be involved in the transaction.
4. The seller’s solicitor then compiles and forwards the Contract pack, for review. This includes the draft Contract, the property forms, a copy of any relevant title deeds, the energy performance certificate and any relevant property documents, such as FENSA Certificates and boiler service records.
5. The Contract pack encompasses the title plan pertaining to the property, which then allows the conveyancing searches to be applied for. There are four usual searches carried out, inclusive of:
1. A local search, which raises enquiries with the local authority in respect of planning, building control works, road adoptions, smoke control orders and local land charges, as examples.
2. An environmental search, which reports on environmental issues, such as whether the property may be built on contaminated land, flood risks, ground stability issues and radon gas levels.
3. A drainage and water search, which shows where the assets run and confirms whether the property is connected to the mains.
4. A coal and mining search which reveals whether there have been any past, present or proposed future mining works at the property.
6. The search results take 7-10 days to arrive and, upon receipt, are reviewed and forwarded to you, together with a report on the same, detailing the various entries noted thereon.
7. On receipt of the documentation, the Contract pack and search results are reviewed. This is to ensure there are no discrepancies, title defects or other adverse issues that require resolving prior to Completion. Paperwork for any new windows, electrical work or gas installations are also checked for. Enquiries are then raised with the seller’s solicitor, to iron out any discrepancies or issues that have been revealed within the above.
8. The enquiries are a set of queries require the seller to provide clarity or further information in certain respects. The enquiries can range from spelling amendments to the Contract for sale, to the provision of Planning Permission evidence, as examples.
9. The seller’s solicitor then has the opportunity to review the enquiries, and take the seller’s instructions on the same in order to respond accordingly.
10. The responses are, usually, satisfactory, however, in some instances, it may be necessary to raise further enquiries to ensure clarity is provided. In which case, this step would simply be repeated until the responses were acceptable.
11. Once happy with the responses received, our final report is prepared, explaining the deeds and all relevant paperwork pertaining to the property. At this point, the Contract, Mortgage Deed and Transfer Deed are signed, in anticipation of Exchange of Contracts. It is important to note that the documents do not become legally binding until Contracts have been formally Exchanged.
12. Dates for Exchange and Completion of the matter can then be agreed. In some cases, these two processes may take place on the same day, which is known as a simultaneous Exchange of Contracts and Completion.
13. Funds to facilitate Exchange and Completion are then requested, together with updated proof of funds evidence, confirming the origin of the same. At this point, any mortgage funds would also be requested from your mortgage lender. Arrangements should also be made, at this stage, to request any Help to Buy or Lifetime ISA bonuses. These bonuses are not, however, permitted to form part of the deposit monies.
14. The solicitors can then call each other and formally Exchange Contracts. At this point, the solicitors read through the Contract, confirming the details thereon, and that each of them holds an identical copy. Once finalised, this then creates a legally binding Contract, meaning that Completion must now take place on the agreed date. Where Completion does not take place on the agreed date, penalties on the party at fault can be imposed.
15. On the day of Completion, the purchase monies to the credit of the seller’s solicitors’ client account. Once the money arrives, Completion is deemed to have taken place, and the estate agents may then release the keys to the property and it is all yours!
16. The seller’s solicitor then forwards the title deeds and documents in order that arrangements can be made for the property to be registered in your name, as the new owner of the property.
17. Upon receipt of the completed registration documents from HM Land Registry, the title deeds and documents are forwarded to you, for your records, thus concluding the transaction.