Buying a Home

The whole process of buying a property is known as 'conveyancing'. For most it is not just another purchase; it's the most important legal transaction and the largest financial commitment of your life. It's also one of the most stressful experiences you can have, so it makes sense to ensure you have experienced legal advice on your side.

There are many conveyancing services available with a huge variety of experience and expertise on offer. Cozens-Hardy LLP has the largest conveyancing department in Norfolk with hugely experienced solicitors.

We've bucket loads of thank you letters from happy clients, because we treat each conveyancing transaction as though it were our own home. It's a very personal approach as we guide you through every step of the way and are always available to answer questions.

It is helpful to understand how a house purchase works – to see what you will be responsible for and what we will do for you. When you have found a property you like, these are the things that need to happen, although not always in this order.

Download the guide as a PDF

 

BUYING A HOME PROCESS

Making an offer

What you need to do

Plan your budget
Speak to a lender

Speak to a lender (bank, building society) or a mortgage broker or IFA (independent financial adviser) about your borrowing limits and products available.

Agree an offer price

Agree an offer price with the seller and give us full details of the offer, the property and the proposed financial arrangements.

Send a copy of survey report

Send a copy of the survey report (required by mortgage company, but you can pay to have a more detailed report) to us, in case there are points that the surveyor would like us to check.

What we do for you

Provide an estimate

Provide you with an estimate of our fees, including search fees, stamp duty, land registry fee etc.

Take your details and identification

Exchanging contracts

What you need to do

Complete all forms

Complete all forms and provide all information to your lender or their agent (broker, IFA) to obtain your mortgage offer.

Send us payment

Send us payment for search fees. Tell us about any queries you have about the property at the earliest possible point.

Answer all questions

Answer all questions from us or your lender promptly; let us know as soon as possible about any problems with finance, or the property survey. Read carefully and ask questions about our Report on Title.

Send deposit monies

Send deposit monies to us.

Exchange contracts - celebrate!
Book removers

What we do for you

Draft contract

Receive the draft contract, title deeds and other papers from seller’s conveyancer and examine them in detail, asking further questions about the property. If necessary, carry out further searches on the property e.g. environmental.

Mortgage offer

Receive the mortgage offer from your lender.

Search results

Check through all search results and replies to enquiries.

Prepare a report

Prepare a report for you on the title to the property, highlighting any particular unusual rights or obligations on your part.

Agree timetable

Agree timetable for exchange and moving date with you and the seller’s conveyancer.

Request deposit monies

Request deposit monies from you.

Signatures

Obtain your signature on contract, transfer and mortgage deed in preparation for exchange.

Exchange contracts - celebrate!
Send contract

Send contract and deposit to seller’s conveyancer.

Prepare a ‘Completion Statement’

Prepare a ‘Completion Statement’ showing how all monies are being allocated for the purchase fees and taxes (‘stamp duty’).

When all documentation is signed, the mortgage offer is confirmed, the title is satisfactory for the lender’s requirements and all questions have been satisfactorily answered by the seller’s conveyancer, then ‘contracts are exchanged’ with the seller’s conveyancer and the completion/moving date fixed. You are now legally committed to buying the property! If you do not complete, you will forfeit your deposit and be liable for all fees and expenses.

Completion & moving

What you need to do

Pay the balance

Pay the balance required to us in good time for your move.

Confirm moving date

Confirm moving date and time with your removers.

Confirm arrangements

Confirm arrangements for handover of keys to the house with the seller, estate agent, or with us (it varies).

What we do for you

Request balance

Request the balance of purchase monies from lender for the day of completion.

Day of completion

On day of completion, send the purchase monies to seller’s conveyancer. Telephone you as soon as the money is received by them and the keys are ready for you to collect – normally before lunchtime.

Following completion

We will telephone you to confirm completion and ownership of property. Timing cannot be exact especially if there is a chain of transactions.

Welcome to your new home!
To find out more, call us on: 01603 625231