BUYING OR SELLING YOUR HOME WITH WILKINS

Moving house can be stressful.  There are many things  to organise and a great deal is  at stake. Wilkins are totally committed to giving you a friendly and efficient professional service. We know how important it is to have an expert on hand to guide you, and the same experienced Conveyancer will help you with the formalities from the start right through to completion.

Some things to think about if you are selling. 

• With effect from 6^th April 2009 a property cannot be marketed until the Home Information Pack (HIP) has been prepared.  We can organise the HIP for you at a competitive rate as part of the conveyancing process.  We can help you with the Property Information Questionnaire which is part of the HIP

• If you contact us when you decide to sell it will help to get things underway quickly

• When you have a Buyer we will be using the Law Society’s Transaction Scheme.  The idea in this is to give the Buyer a complete package of documentation at the outset.   We will ask you to help by completing  the forms used in addition to the Property Information Questionnaire for the HIP

• We will obtain your Deeds from the Mortgage Lender to allow the sale to go forward quickly when you  have a Buyer

• We will also let you know about the legal costs involved,  which are competitive with local firms

If you are buying:

Prior to making an offer

• When you buy, the HIP which will have been commissioned by the Seller may have a Personal Search within it.   We can discuss with you whether this is complete and acceptable.    The HIP does not contain all Searches  which are appropriate, such as an Environmental Search, and we will ask you for a cheque for the additional Searches at the time you decide you are going ahead

• The HIP commissioned by the Seller will contain a number of often quite technical documents.   Wilkins can assist you with their interpretation

Once an offer is accepted

• If you need a Mortgage, Wilkins are Panel Solicitors for most Building Societies and Banks.  We will normally be able to act for the Lender as well as you.  It is essential to have a written Offer of finance from your Mortgage Lender prior to exchanging Contracts.  We will check that all the Conditions in the Offer are satisfied before you are committed

• The Mortgage Lender will carry out a valuation of the property but this is not a Survey only a valuation from the Lender’s benefit.   We can discuss  different types of Survey with you

• A deposit will be needed on exchange of Contracts and this is likely to be at least 5% of the purchase price.  If you are selling as well, this can often come from the deposit from your sale

• Exchange and completion are the two crucial stages in a sale and purchase.  Exchange of Contracts is when both sides are ready to go ahead, the two signed Contracts are “exchanged” and dated and the deposit paid over.  The Contract is legally binding and both parties are committed.  Completion is the date when the rest of the money is paid over and the keys released with the Deeds being released to the Buyer’s Solicitors.  The date for completion is fixed on exchange of Contracts and is typically two weeks ahead

• If you are buying jointly with a spouse or partner you will need to consider what form of joint ownership to choose, whether joint tenancy or tenancy in common and we can advise you on that

 Identity

• When you come to see us we will need you to bring with you evidence of identity.  Normally this will mean your Passport together with evidence of your current address such as a utility bill not more than three months old

Costs

• Our costs are highly competitive.  We will  provide you with an estimate at the outset.  We will explain to you the circumstances in which it might have to be increased, such as a fundamental problem with the Seller’s Title or expected difficulties over planning aspects.  We will also give you details of Stamp Duty Land Tax, Land Registry fees and other expenses that go with the buying or selling of your home

• If you are a first time buyer, we are currently offering a no sale, no fee deal and an introductory discussion with you about your HIP.  Please contact us for further details providing a copy of this web page when you attend for your first meeting with us.  

17th March 2009.

We believe the information contained herein to be correct at the time of publication. While all possible care is taken in the compilation and presentation of this web site, no responsibility for loss occasioned by any person acting or refraining from acting as a result of the material on this web site can be accepted by this firm or the author. The information only relates to English and Welsh law and legal practice.