Gardner Leader

Buying your home

Once you have instructed us, we can send you a copy of our more detailed explanatory leaflet describing the steps that are taken to purchase your new property.

Due to the current money laundering regulations we have to check your identity and we will ask for copies of your passport and copies of a recent utility bill. To verify your identity you can attend at either of our offices without an appointment, and we will copy your documents and certify for you. There is no charge for this service.

We will need to carry out searches against the property on your behalf. We usually use our personal search agent Onesearch who will make enquiries of the Local Authority, Water Company and carry out an Environmental Search on the land and immediately adjacent area. They will also provide a Chancel Repair Liability Report.

In order to obtain these Searches we will request £200 on account which can be paid either by cheque or by calling us with your Visa/Switch card details.

The seller's solicitors will send us a copy of the seller's legal title, and the Sellers Property Information Form and Fixtures and Fittings List (which set out vital information about the property and the items included in the sale) and a contract.

We will read through these papers very carefully and if necessary ask further questions based both on the information we have received and the results of the searches.

We will send you copies of the Property Information Forms and Fixtures and Fittings List in order that you can let us know if anything concerns you and if the items that are being left accord with your understanding.

We will receive back directly the results of the searches on your property. Usually this takes about ten working days. We will consider these carefully and if necessary ask further questions of the Council or your seller’s solicitors. We will also send you a extracts from the searches together with a full written report.

As a purchaser you now have an obligation to submit a Tax Return relating to the transaction and to pay the relevant tax. You can choose to prepare this yourself and we can provide the forms. Alternatively we can prepare the Return for you for which there is a charge.

You will probably be obtaining a mortgage to help pay for your new property. While we check the searches and documents received from your seller's solicitors, your mortgage company will liaise directly with you over the making of your mortgage offer. A few weeks after you apply for your mortgage, you should receive a formal written offer. We will also receive a copy and will then check with you that the terms and conditions are what you expected. You should also check with the mortgage company as to their requirements regarding property and life insurance. If you are arranging your own property insurance this should be ready to be placed on risk on exchange and must be acceptable to the mortgage company.

When all our enquiries have been answered, the search results and mortgage offer received, we will send to you a copy of the contract together with a full report detailing the results of all our enquiries.

If possible it is always best to arrange an appointment to discuss all the papers with your solicitor which can be arranged during normal office hours.

When you are satisfied with everything, you must sign the contract and provide us with a deposit. The deposit normally requested by your seller's solicitors will be 10% of the purchase price. However, if you have a high percentage mortgage we can try and negotiate a smaller deposit with the seller's solicitors. If you are selling a property, it may be possible to use the deposit we receive from your Buyers.

Once the seller and everyone else in your “chain” has signed and returned their Contracts and deposited monies to their solicitors, and once everyone has agreed a moving date (which we call the Completion Date), contracts can then be exchanged.

At this point you are legally bound to buy the property and the seller is legally bound to move out and transfer it to you on the completion date.

Between exchange and completion, we help prepare for your move. We request the mortgage monies from your mortgage lender, arrange for you to sign the final papers, carry out checks to ensure the sellers have no hidden mortgages that they have not told us about.

We will provide you with a full and detailed completion statement setting out any additional monies we will require from you prior to completion to cover the cost of things such as Stamp Duty Land Tax, Land Registry and legal fees.

On the completion date we pass the monies to your seller's solicitors by telegraphic transfer and advise you when you can collect the keys from the estate agents.

After completion we pay any relevant Stamp Duty Land Tax to the Inland Revenue, and arrange for the title deeds to be transferred into your name at the Land Registry. Once this has been completed we will send you a copy of the new deeds to show that you have completed the purchase of your new home.

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