Conveyancing

First Time Buyer – Property Conveyancing Advice

14 June 2021

Buying your first home is a huge milestone, and arguably the biggest and most important financial purchase you will make. It is an exciting but often overwhelming time, with a lot of coordinating parts and moving parts to organise, so it is important to try and understand as much as you can before you begin the process.

Most first-time buyers have limited knowledge and experience in dealing with legal and financial professionals and conveyancing terminology can cause confusion. Understanding where you are in the buying process and the different terms being used should help you to feel more confident and reassured throughout the purchase.

The Conveyancing Process Explained

Once your offer on the property has been accepted, the sale process can begin. Both the buyer and seller of the property will need to instruct solicitors to handle the legal transfer of ownership.

To begin the legal process, the seller’s solicitor will send the title and contract papers to the buyer’s solicitor. Once these have been received the buyer’s solicitor can begin the process.

Enquires & Searches

Your conveyancer will raise any enquiries relating to the property and order the relevant searches to be carried out. Examples of enquires include:

Examine rights and restrictions associated with the land and property
Various searches with the local authority and public bodies
If the property is leasehold – checking the terms associated with this

The buyer of the property should also arrange a survey of the property – a detailed inspection of the property’s condition and to highlight any potential issues.

Proof of Funds & Mortgage

Your conveyancing solicitor will request proof of deposit funds as well as a copy of your mortgage offer. The mortgage provider will also carry out a mortgage evaluation of the prospective property.

Signing & Exchanging of Contracts

If all of the above runs smoothly and both parties are happy to proceed, the signing and exchanging of contracts can be completed by the conveyancing solicitors of each party on behalf of their clients.

From this point, the buyer is legally bound to purchase the property.

Final Checks & Deposit Transfer

The completion date will then be agreed upon, with both parties and the deposit is transferred to the seller’s solicitor. This is usually done in advance, so they arrive on time for the completion date.

The conveyancing team will request the remaining fees associated with the searches and sale and carry out final searches such ad bankruptcy and land registry to ensure no last-minute problems occur.

Completion!

Once the seller’s solicitor has confirmed they have received the completion monies, the official transfer deed can be dated and finally you can go and collect your new house keys!

If you are a first-time buyer looking for a conveyancing solicitor you can trust to carefully guide you through the process, get in touch with Eddowes, Perry, and Osbourne to discuss a quotation.

Phone: 0121 686 9444 | Email: advice@e-p-o.co.uk

Samuel Sparrow

16:20 23 Sep 22

Bought my first home which completed today, and I could not be happier!My Solicitor, Katie Dwyer, was absolutely fantastic and helped me each step of the way. Her guidance, professionalism and support was second to none. She even went out of her way to assist by attending a meeting in the evening to ensure that documents were completed when needed. I honestly could not have had a better Solicitor. If you want a fantastic Solicitor, contact Katie at Eddowes Perry & Osbourne. She was recommended to me. I, like a lot of others, have come to realise that Katie is not only a truly talented Solicitor, but also an incredible person.

Jean Wall

13:24 08 Aug 22

We have been with Eddowes Perry and Osbourne for many, many years and have always had excellent service for all of our legal needs.This time we chose them again to do the conveyancing for our house sale and house purchase.Maria was excellent; her professional approach to the job gave us peace of mind throughout the process. She was diligent and thorough in all aspects of the work. We had regular updates and all of our questions and concerns were addressed timely and positively with no drama.I would wholeheartedly recommend Maria for her conveyancing skills and EPO for all aspects of legal work.Thank you to all the team members but to Maria and Sarah in particular.

TW-Automotive

17:44 12 Jul 22

Reviewing on a B2B basis... Worked with Yassa to deliver some branding for their company vehicle, effortless to deal with and most importantly paid instantly. Any prospective customers / businesses no need to worry when it comes to EPO. Great people.

Saurabh Paul

21:37 06 Jul 22

We had the pleasure of having Maria as our conveyancing solicitor, for my purchase and sales that concluded couple of weeks ago. Right from the start of the engagement, I found Maria very professional, transparent and courteous. She ticked all the boxes that one could think of to make the rather complex conveyancing process smooth and easier. Given the post covid market conditions having a right solicitors was very important and I can only be thankful to Maria and the EPO team for overcoming the challenges on our sales and our purchase to ensure timely completion. At all times she kept us well informed about the progress and provided us with a first class service in terms of the guidance and ensuring appropriate due diligence. Can’t thank Maria and her team enough for their hard work. Maria is trustworthy and a safe pair of hands for any conveyancing needs.

Howard Allen

15:02 07 May 22

I found it easy to contact this company and their communication is exceptionally good. An appointment for my mother to have a home visit was quickly arranged for a date and time that suited her. The solicitor took the trouble to comply with the Covid restrictions at my mother’s accommodation and the visit was not at all rushed. The solicitor put my mother at ease and was particularly courteous and helpful. Having taken my mother’s instructions the solicitor quickly produced the draft document and arranged for a follow up visit for the final document to be signed. This involved some more work than was originally quoted for but the invoice was for the quoted amount. The solicitor was thoroughly professional and efficient but, importantly for my mother, friendly and approachable. I wish that I had used this company for other legal work that I have needed recently as I am sure that I would have had a much better experience. I would definitely use this company for any future work and wholeheartedly recommend them to others. Thanks very much for such an excellent and considerate job.