The purchase of your home is an important financial transaction. Unfortunately at times it can also be stressful often because the public is unaware of the procedures, the number of people and organisations involved, and the fact that all the procedures do take a little time to complete. Our specialist Conveyancing Team will guide you through the process in "plain English" terms.

We hope you find the guide helpful.

REMEMBER

• Please contact us as early as possible regarding your purchase. We can then ensure that you have the best possible advice to protect your interests.
• Mortgages.There are literally thousands of mortgage products available. We can put you in touch with a reputable independent financial advisor who can advise you on the mortgages currently available.
• Surveys. We always recommend that our clients have a good quality survey carried out on the property they are purchasing. We can advise you as to the types of survey available and can also recommend you to reputable local surveyors.
• Ownership. If you are buying jointly should you have equal or unequal shares? What do you wish to happen to the property if one or both of you should die or if you should separate?
• Be patient. We will carry out your conveyancing as soon as possible and usually a house purchase would take 6 - 8 weeks to complete. However this is dependent upon whether or not you are, for example, selling your own property, or if your seller is purchasing another property and if so how long the chain is. Remember your transaction can only proceed as fast as the slowest link in the chain allows. Click here to see a diagram of the number of people and organisations that may be involved in a simple three party chain.

THE PROCEDURE

Step One:
We will request a contract package from the sellers solicitors. The package should consist of the contract, a copy of the title deeds (or copies of the registers held by the Land Registry), a fixtures, fittings and contents form and general property information forms. We will examine those on your behalf and provide you with a report.

We will raise enquiries about the property and the contract package with the seller's solicitors. For example we will ask if the property has been extended or altered and, if so, for copies of any appropriate planning or building regulations consents.

Step Two:
At the same time as examining the contract we will carry out searches with the local authority and e.g. if the property is in a coal mining area, a coal mining search. Other searches may also be necessary with other local authorities, the local drainage/water company and the Land Registry. Again when we have the results of those searches we will provide you with a report on them.

Step Three:
If you are obtaining a mortgage it is likely we will obtain instructions from your mortgage lender to act on its behalf. Sills & Betteridge is on the approved panel of most banks, building societies and other mortgage lenders. You should also receive your own mortgage offer. Again we will send you a report on the mortgage offer.

Step Four:
We will ask you to sign the contract. If you are just buying we will also let you have a financial statement and ask you to bring the deposit with you. If you are buying and selling at the same time a deposit is generally not needed and any balance you are providing will be dealt with approximately one week before the completion date. The completion date is the date the buyer will move in and is agreed before contracts are exchanged.

Step Five:
When you are happy with all the documents and have paid the deposit we will exchange contracts for your purchase. This is the vitally important time when the contract becomes legally binding and neither the seller nor the buyer can withdraw from the Contract or alter the price or the completion date without potentially incurring massive expense.

Step Six:
Before the completion date we will (1) carry out final searches with government departments including those required by your mortgage lender (2) obtain your mortgage funds (3) prepare the transfer and mortgage deeds and ask you to sign them. The transfer deed is the document by which legal title to the property is transferred to you. Whenever possible (and to save time) we will prepare the transfer and mortgage deed early and ask you to sign them when you sign the contract at Step 4. We will send the transfer deed to the seller's solicitors so that the seller can sign it.

Step Seven:
On the completion date we will pay the balance of the purchase price to the seller's solicitors and receive the title deeds and the document transferring the property to you.

Step Eight:
We deal with payment to the Inland Revenue of any Stamp Duty (if appropriate) and apply to register your purchase at the Land Registry. All home purchases are now registered at the Land Registry.

Step Nine:
Once registration at the Land Registry is completed, we will send your title deeds to your mortgage lender if you have a mortgage. If you do not have a mortgage we would be pleased to store them in our strongroom.