So, you've had an offer accepted on your dream home! Now, you’re probably wondering what happens next. Here we look at a quick, easy-to-follow guide to help you navigate the process:
Step 1: Instruct Your Conveyancer & Apply for Your Mortgage
Once your offer is accepted, it’s time to instruct a conveyancer to handle the legal side of things. At Sowerbys, we work closely with local solicitors to ensure a smooth and efficient transfer of ownership.
If you’re buying with a mortgage, get your application in early. The lender will arrange a valuation to ensure the property is worth what you’ve agreed to pay.
Step 2: Enquiries & Searches
Your conveyancer will raise important enquiries to make sure you have all the information you need about your new home. It’s also essential to arrange a property survey or specialist reports (such as damp or electrical checks) for peace of mind.
Your conveyancer will also carry out key searches, including:
- Local Search: Information held by the local authority about the property.
- Water & Drainage Search: Confirming connections to mains water and public sewers.
- Environmental Search: Ensuring the property isn’t located on contaminated land or near a landfill.
Additional searches might be required, depending on the property.
Step 3: Pre-Exchange
Once all the searches and enquiries are complete, and your mortgage offer is in place, your conveyancer will prepare a detailed report on the property. This will include everything you need to know, so be sure to read it carefully before signing the contract.
Step 4: Exchange & Completion
After you have signed the contract, your conveyancer will exchange contracts, making everything legally binding. Completion usually follows shortly after, often with a week’s gap if a mortgage is involved. On completion day, the keys to your new home will be handed over – and the adventure begins!
If you’d like more information or need help with your conveyancing and finding a solicitor, please contact us here.
Contact Sowerbys