PURCHASE– LEASEHOLD

Purchase of Leasehold Property

The services included in our fees cover the following key stages:

    • We request the contract papers from the seller’s Solicitor;
    • We undertake the Local Search;
    • We consider the contract and any accompanying documents sent to us by the Sellers;
    • We raise any enquiries about the property and deal with the contract terms and matters of ownership of the property;
    • We “progress chase” regularly any outstanding paperwork and report to you periodically and in particular should there be problems;
    • We provide the contract and preliminary documentation to you with a written report upon them and advise  and obtain your signature to the contract and seek the deposit from you;
    • We exchange contracts with the Seller’s Solicitors;
    • We prepare the document to transfer ownership to you and have it approved by the seller’s Solicitors;
    • We obtain your signature to the transfer document;
    • We send you the mortgage documents and advise upon their content and request and receive the mortgage monies from your lender;
    • We undertake the Land Registry and Bankruptcy Searches;
    • We complete the purchase and pay over the purchase money by a single Bank transfer of funds;
    • We complete the Stamp Duty Land Tax Return and send this to the Inland Revenue with the Tax payable;
    • We register your ownership of the property at the Land Registry;
    • We notify the owner of the reversion of the change of ownership and, if the Lease requires the Mortgage to your Lender, and
    • We send to your Lender any deeds they wish to retain passing to you any other documents for you to keep.

How long will my house purchase take

We estimate between 12-15 weeks for leasehold properties. These types of properties are dependent on information from third parties such as management companies and as such we have no control on how quickly they will respond to enquiries raised or provide management company information. The estimate is based on all parties being ready to proceed and there are no extenuating circumstances that would hold up the process or prevent others or us in the chain from proceeding within this reasonable time scale.