The average process takes about 21 weeks (according to Rightmove.co.uk), but this will depend on a number of factors.

It may be quicker, or slower, depending on the number of people in ‘the chain’ and/or whether the property is leasehold.

Below are the main stages of purchasing a residential property.

1) Take your instructions and give initial advice.

2) Check your ID and source of funds, receive payment of approximately £350 from you in advance for disbursements.

3) Check finances are in place to buy the property and contact the lender’s solicitor if necessary.

4) Contact seller’s solicitor.

Lawyer Checker                                     £14.40 (if using an unfamiliar firm of solicitors)

5) Receive and review contract documents.

6) Send a copy of the Title plan of property to check it is accurate.

7) Carry out searches:

Local Council Search approx.             £200.00 approximately

Drainage search                                    £50.00 approximately

Environmental search                         £100.00 approximately

8) Make any necessary enquiries of seller’s solicitor.

9) Give you advice on all documents and information received.

10) Obtain further planning documentation if required by you, seller is not obliged to supply them (charges apply depending on local authority tariff).

11) Go through conditions of mortgage offer with you.

12) Send final contract and mortgage deed for your signature.

13) Agree completion date with all parties.

14) Exchange contracts and notify you that this has happened – you should arrange building insurance in your name from this date. (with the mortgage lender, if any, noted as an interested party).

15) Make pre-completion searches:

Bankruptcy search                  £2.00 per person (if obtaining mortgage finance)

Land Registry searches          £6.00 – £24.00

 

16) Arrange for all monies needed to be received from the lender and you, by mid-day before the completion date.

15) Send funds to seller’s solicitor and complete purchase – confirm with the seller’s solicitor that keys will be released and advise you.

Same day bank transfer fee    £30.00

You can now proceed to move into your new home.

16) Pay Stamp Duty/Land Tax on your behalf (figure depends upon purchase price and buyer status e.g. first time buyer) within 2 weeks of the completion date.

17) Make application for registration at Land Registry, send confirmation to you once registered, cost again depends upon purchase price but ranges from £20 – £910.

If leasehold property:

a) send freeholder and/or managing agents enquiries; review and report answers.

b) receive, review and report on title and freehold.

c) receive, review and report on head lease.

d) agree apportionments for rent and service charges so that you are liable to pay the rent and service charges applicable from the completion date and the next payment date.

e) Upon completion give notice to freeholder/managing agents and pay their fee:    £50 – £300

f) Arrange for any transfer of a share in a management company and obtain certificates needed to deal with any restriction on the register.