In part one we looked at some of the jargon used during the early part of a transaction and discussed how to choose a Conveyancer. We will now start to look at the legal process in more detail.
I just want to mention Energy Performance Certificates at this point (EPC’s). A full Instagram post to look at EPC’s in more detail has been added to my highlights. @ukpropertylaw is my Instagram if you are not following me already.
EPCs can be arranged for you by your agent or alternatively you can find a list of approved registered assessors online. Get one at the time you put your house up for sale if there isn’t one already in place. They last for 10 years so it might be there’s one you can use from a previous sale. If you don’t have a copy of the EPC you can check the online EPC register to download a copy.
So what’s next? Our chain is complete and everyone is starting the conveyancing process.
If you are getting a mortgage now is the time to formally apply. I’ll do a future post about mortgages and decisions in principle and how they work in future. For now speak to your mortgage advisor or broker.
This point is when the mortgage company would carry out a valuation. Valuations and surveys done at this point are a vital part of the conveyancing process. Again this is worthy of a separate post so more details on that in a future blog. Once the valuation is done the bank or building society can get the mortgage offer in place.
The next stage is for the Sellers Solicitor to get the title deeds (normally just a download from the Land Registry) and prepare a Contract. The Seller also needs to fill in some forms if they haven’t done this already. These property forms include a list of items included in the sale, such as carpets, curtains and white goods (appliances). The second common form is a list of questions about the property for the seller to answer. It includes questions about boundaries, planning, building works and much more. Again a post with further details will be added in due course.
I realise this blog isn’t giving much detail at the moment, but conveyancing is a huge area for me to discuss. I decided to do this first as so many of my followers have links to residential property. Please follow me on Instagram as I will add further links and content. There is so much more to add.
Let’s assume then that the Seller has filled in the property forms, instructed a Solicitor or Conveyancer, and provided their ID. The Solicitor will download the ‘title deeds’ and use those to prepare a Contract.
The contract will be received by the Solicitor acting for the Buyer who will then submit searches on the property. More on searches in a future blog!
As a quick summary; the searches usually include a Local Authority Search which checks the Councils records on planning and building regulations as well as seeing if roads and paths are publicly owned and maintained. A drainage and water search should confirm if the property is connected to a public sewer and water supply. An Environmental search will cover issues including flooding and potential ground contamination. In some areas other searches may be required.
The next step is for the Solicitor for the Buyer to review the contract and property forms, and scrutinise the deeds to look for any legal issues or discrepancies they may need to ask further questions about or as for further evidence to support. If the searches are back at this stage the results will be cross checked. Following this investigation the solicitor is likely to raise questions known as ENQUIRIES. These enquiries should be legal in nature and will be sent to the Sellers’ Solicitor to answer. Depending on the questions the Solicitor may need to go back to the Seller and ask for further information or evidence. The process of dealing with these pre-contract enquiries can take some weeks.
Thanks for reading please keep a look out for future blog posts and if you have any questions please don’t hesitate to get in touch.
UK Property Law Blog 