Moving Home - Pre Contract :: mfg Solicitors Kidderminster, West Midlands

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moving home

Pre-contract

The Buyer:

You have found the property you want and the seller has accepted your offer. (Another guide ought to be written about this stage - before most people even consult a solicitor!). Some of the most difficult and responsible work has to be done by your solicitor at this stage.

The making of appropriate searches and preliminary enquiries is by no means a formality.

We shall summarise for you the information obtained about the property and advise you as to the meaning of the provisions in the draft contract.

It is also your solicitor's duty to ensure you do not exchange contracts before you have available all the money needed to pay for the house completion.

We shall be in touch with your lending institution (or your bank, if bridging finance is needed) and with your buyer's solicitors, if you have a related sale. Once all these elements have come together, we shall ask you to sign the contract and pay the agreed deposit to us, so that contracts can be exchanged.

The Seller:

Having found a buyer, you will instruct us to send a draft contract to the buyer's solicitors. To do this we shall need the deeds, to check the nature of your ownership and the existence of any rights or burdens which must be revealed and passed on to the buyer.

If we have acted for you before, we shall know where the deeds are and shall send for them straight away; otherwise you will have to tell us - the sooner the better.

However, in this day and age with regards to registered title and with many lenders not requiring deeds to be lodged with them, it may well be that you are holding some documents. We at mfg have high speed access to Land Registry Direct and can obtain official copies of the register entries and other documents relating to your property in moments all increasing the speed and efficiency with which we can help you.

When we have the deeds, we shall prepare a draft contract and send it to the buyer's solicitor along with the sellers' property information form and fixture and fittings list. This may be termed as the Contract Pack. In turn, the buyer's solicitors often send us preliminary enquiries designed to discover from your own knowledge of the property whether any of a number of possible disadvantages actually affect this property. Once the buyer's solicitor is satisfied, he will approve the contract and we shall ask for you to sign it. Contracts will be exchanged and a date fixed for moving and payment - completion.

Having decided to sell, the sooner you instruct us the better. We can then get together a package of the documents and information which will be required by the buyer's solicitors so that no time is wasted once a buyer is found. At mfg we utilise the protocol which means that a full pack of information is provided at the outset to the buyer's solicitor.

	Conveyancing - what is it?
	What happens in a conveyancing transaction?
	Pre-contract
	Between contract and completion
	After completion
	Glossary of terms used