If you’re buying a property, firstly, congratulations! Even if we’re not assisting you with your mortgage, this to-do list would be relevant for any purchase.
Instruct your solicitor/conveyancer quickly
If you don’t have one, we can recommend a company to you. Please do encourage your legal representative to keep your estate agent informed. Their quick responses to those requests will be really helpful for you.
Action their requests
You will be sent questions and documents by your solicitor/conveyancer. They’ll ask for identification as part of their money laundering checks. Sometimes that involves you following some links to enable them to carry out online checks through a third party. The sooner you respond to those requests, the better. You don’t want to be the cause of any delays with your purchase.
Chase your draft contract
After the ‘Memorandums of Sale’ have been sent out, check with your solicitor/conveyancer to ensure that your draft contract has been received.
Keep your estate agent updated
It’s important that you inform your agent when your solicitor has received enquiries or replied to enquiries. They’ll keep chasing those for you.
Fund the searches
Ensure your solicitor/conveyancer has sufficient funds from you to enable them to apply for your searches. If possible, ask for these searches to be done straightaway to any delays with them. It’s worth exploring a search indemnity policy to enable you to exchange without them. If we’re sorting your mortgage, we’d check your lender would accept this before you proceed.
Proof of funds
If your purchase involves gifted monies (e.g. from a family member or friend), do discuss this with your solicitor from the start. Proof of funds will be required and this can take some time.
Monies at the ready
Make sure you have your deposit money ready and transferred for exchange. Sometimes a bank won’t allow you to transfer large sums electronically and you may need to go to your branch. A quick call to your bank should answer this for you. If your funds are coming out of an account where notice is required, do ensure you’ve given that in plenty of time.
Sign the contract
Get this signed as soon as possible so this doesn’t hold up your exchange.
Timing it right
If you’re currently renting and need to give notice, find out how much notice you need to give and discuss the timings with your solicitor/conveyancer.
