Buying a house is usually the biggest investment you will make in your lifetime.
Buying a house and moving home are also said to be among the most stressful things you can do, so our residential property conveyancing team understand that you need your property purchase to go as smoothly as possible.
Whether you are a first time buyer, buying a flat in Chesterfield or a property developer buying several houses in Sheffield we provide all of our clients with the best possible service and legal advice.
There are various stages in the process of buying a house. These include the initial negotiation stage, exchanging contracts (when you become committed to buy the property and a deposit is paid) and the completion of the purchase (when you become the owner of the property and the balance of the purchase price must be paid). BRM Solicitors will liaise with you at all stages of buying property.
It is necessary to carry out various searches of local authority records and other public records to find all factors which may affect your property purchase such as compulsory purchase orders, old mine shafts, covenants restrictive of development or use and a range of other potential problems.
The searches usually carried out by BRM's property team are:
If you are new to the area or just want to know more about the area where you are buying then we can offer the Landmark Plan Search Plus search which gives details about crime statistics demographics, school shopping and other information about the area surrounding the property you are buying. You can see an example of this search at www.brmlaw.co.uk/landmark. Please let us know if you wish us to carry out a Landmark Plan Search Plus search on your property.
When our property team receive the agreement (or contract) for sale from the seller's solicitors the terms must be considered and we will notify you of any significant terms along with negotiating changes to terms of the agreement if we consider it necessary to protect your interests.
The seller's solicitors will send title to the property to us and we will carefully consider the details to find out if the seller is legally allowed and able to sell the property and whether we can accept the title which the seller has. There maybe adverse rights of way or covenants which restrict how you intend to use the property. Land can be a complicated and expensive asset so all relevant information about property title will be summarised for you.
As each piece of land and property is individual, we will make relevant enquiries with the seller and the seller's solicitor to identify any matters adverse to your interest which they should disclose.
It is important that any mortgage or other borrowing needed for you to buy your property is in place before you commit to buying a property and that you have sufficient money to purchase the property. It is equally important that we are able to satisfy all the detailed requirements of your bank or mortgage lender.
When buying property, there are various documents which need to be reviewed or prepared at various stages of the purchase, including for example, the agreement for sale, the conveyance or transfer and any mortgage deed with other associated documents. We will prepare or change the documents carefully and in conjunction with you, before asking you to sign.
A Completion Statement and Bill of our costs will be sent to you shortly before completion of your property purchase. We will need cleared funds for any outstanding balance for buying your property the day before the property purchase completion date.
If we have excess money belonging to you remaining from your property purchase on the day of completion, this money will be sent to you by cheque.
After we have completed the purchase of the property, there is still some work to be done including:
We do not usually need to correspond with you during these final stages.
When buying a flat, all the same work as when buying a house will need to be done. As flats are more often than not leasehold with various restrictions on use, when you are buying a flat, we will make you aware of all areas of the lease that would affect your use of the flat and where appropriate, we will negotiate amendment of any lease terms if we think it is in your interest.