Purchase Steps

Receive instructions and send initial documents	Instructions are received from you and a letter will be sent to you introducing ourselves and how the transaction will be dealt with, the documents should be read carefully.
Request draft contract from sellers solicitors	The seller’s solicitors are required to prepare and send us the draft contracts and various other contract documents.
Received documents from buyer	When your instructions were received an initial document bundle would have been sent to you. Some of these documents together with any cheques requested should be signed and sent back to us to progress the purchase of your property without delay.
Pre contract searches undertaken	We will undertake a number of searches against the property you are buying to establish that there is nothing adverse registered against the property. The searches include the Local Authority, Mining and Water Authority searches together with any other searches which appear relevant to the property you are purchasing.
Received draft contract	The seller’s solicitor will prepare a draft contract and forward the same to us together with any other documentation necessary for us to approve the contract.
Mortgage award/offer received	If you are purchasing the property with the assistance of mortgage finance the bank/building society will issue instructions to act on their behalf in securing a mortgage over the property.
Pre contract searches received	The search results will be reviewed in full when received to ensure there are no adverse entries’ revealed.
Draft contract approved and drafted	Once we are in receipt of all pre contract searches and replies to any enquiries we have raised following our receipt of the draft contract and supporting documentation, we will approve the draft contract and return the same to the seller’s solicitors for signature by the seller. We will also prepare a draft transfer and forward the same to the seller’s solicitors for approval by them.
Draft contract signed by buyer	After the draft contract has been approved by us this will be submitted to you for signature and return in readiness for exchange of contracts. If you are purchasing with assistance of mortgage finance you will be invited in to the office at this stage to sign the mortgage documentation.
Set completion date	Once the contract is approved and has been signed by both the seller and the buyer and we have confirmed that we have everything in our possession to effect completion a date will be agreed between the parties for completion which will be the moving date.
Report to buyer on property	When we are ready to exchange contracts we will report to you as to the result of the pre-contract searches and any covenants or conditions which may affect the property which you are buying.
Contracts exchanged and property insured	When the agreed form of contract has been signed by both the seller and buyer and has been returned to their respective solicitors and a moving date has been agreed the contracts will be exchanged by the parties solicitors creating a binding agreement. If the purchase is linked to a sale, an exchange of contracts will take place on both matters simultaneously. Your building insurance should be placed on risk at this stage.
Apply for K16/ OS1 search	These documents are issued by the Land Charges Registry and HM Land Registry. This will show whether there any entries in bankruptcy registered against you and will show as to whether there are any adverse entries registered against the property you are buying.
Received K16/OS1 searches	This stage will confirm of the results at the HM Land Registry.
Completion	This is the date legal ownership of the property transfers to you from the sellers and you legally become the owner of the property from this date.
Land registration formalities completed	Following the purchase of the property we will submit a formal application in to HM Land Registry to enable you to be registered as the new owner of the property.
Title deeds sent to lender	Upon completing the HM Land Registry registration process we will send your title deeds to the new lender. If you are not buying with mortgage assistance depending on your wishes we can retain the deeds or hand them over to.
File archived	Your file will be archived for safe keeping and future reference.

For more information please email property@newhamptonlaw.com