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Legal Process of Buying a UK Property

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Below is a only a simple overview, and steps may differ depending whether you are buying a brand new/Off Plan project, or a pre-owned 2nd hand property.

Offer / Acceptance: Once you have found a property you want to buy, you will make an offer to the seller through your estate agent. If the seller accepts your offer, you move on to the next steps.

Hiring a Solicitor/Conveyancer: You will need to hire a solicitor or licensed conveyancer to handle the legal aspects of the purchase. They will act on your behalf for the sale and purchase of the property and carry out various checks and searches.

Property Survey: It is recommended to arrange a property survey to assess the condition of the property. This can help identify any potential issues or structural problems. Usually applicable to Pre-owned 2nd hand properties.

Mortgage Application: If you need a mortgage to finance the purchase, you will need to apply from a lender or speak to a UK mortgage broker. They will assess your financial situation and the property’s value before approving the mortgage.

Legal Searches and Checks: Your solicitor or conveyancer will conduct various searches to ensure there are no legal issues or restrictions affecting the property. These searches typically include local authority searches, environmental searches, and others as deemed necessary.

Exchange of Contracts: Once all the legal and financial aspects are in order, you and the seller will sign the contract. At this point, you will typically pay a deposit, usually around 5-10% of the property’s purchase price. From offer to this exchange stage, it may take from 4 weeks to 2-3 months.

Completion: This is the final stage of the whole buying process, and it is common that completion will follow few weeks after the exchange of contract. On the agreed completion date, the remaining balance of the purchase price will be transferred to the seller’s solicitor. Once the funds are received, the process will complete, then you will receive the keys from the estate agent.

Post-Completion: After completion, your solicitor or conveyancer will handle the final paperwork, including registering your ownership with the Land Registry. They will also ensure any outstanding fees, such as stamp duty, are paid.

Note:

It is important to note that this is just a general overview, and the conveyance procedure can vary depending on the specific circumstances. It is recommended to seek professional legal advice to guide you through the process. Buying a new/ Off Plan property will usually take 2 – 3 months (also depending when the property is actually competed). However, expect around 3 to 5 months if you are buying a pre-owned 2nd hand property.

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