Solicitors, contracts and completion
Your solicitor will check the contracts, title deeds and make searches and enquiries on your behalf. The next important step is when you receive your mortgage offer. You will then normally be ready to proceed to the main three steps in the home buying process:
When you have received your mortgage offer, you need to contact your solicitor to make arrangements to sign contracts. However, if you need to sell your existing property to buy your new home you will normally be only ready to sign contracts once your buyers are in a position to proceed. Once you have signed contracts your solicitor can then proceed to exchanging contracts.
On every house sale two identical contracts are prepared; the seller signs one and the buyer signs the other. When both parties are ready to proceed contracts are exchanged, making both parties legally bound to proceed with the sale and purchase of a home. When you are ready to exchange contracts your solicitor will ask you for your exchange deposit. When exchanging contracts your solicitor will agree a moving date for you: this is called the completion date. If your new home is ready we will be able to agree a date with you to complete. If your new home is still under construction, we will give you an estimated date and in due course a formal notice when your home is ready, which will enable you to move within the following two weeks.
In the event that you are unable to exchange contracts within your original reservation period don’t panic! Please ensure your solicitor contacts our solicitor to explain the reasons why and discuss the possibility of an extension to your reservation period. This may affect the agreed sale price of your chosen home or any special arrangements which we have made.
When your new home is ready our solicitor will serve notice on your solicitor to legally complete your new home purchase within the next two weeks (10 days in Scotland). The completion date is normally the date that you move, although if you have no property to sell you can move into your new home at any time following the completion date.
Your solicitor will send you a financial statement letting you know the balance of any money you may need to pay to him before completing your purchase.
On the completion day your solicitor will transfer the balance purchase price to our solicitor by same day bank transfer. When the money is received we will give you the keys to your new home and arrange for the title deeds to be sent to your solicitor.
If you’d like help in buying your home or would like us to recommend a local independent solicitor, please feel free to contact Persimmon.
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Images shown are for illustrative purposes only. Elevations and treatments may vary.
The prices shown are correct at the time of being published but are subject to change without prior notice, please contact our Marketing Suite for accurate price information.
Site layouts are intended for illustrative purposes only, and may be subject to change, for example, in response to market demand, ground conditions or technical and planning reasons. Trees, planting and public open space shown are indicative, actual numbers and positions may vary. Site plans does not form any part of a warranty or contract. Further information is available from a site sales advisor.
The dimensions shown are approximate and the precise measurements may vary.
For full details on the HM Government-backed Help to Buy: Equity Loan scheme please visit www.helptobuy.gov.uk.
Every effort has been taken to ensure the information provided here is accurate however, particulars regarding local amenities and their distances are for general guidance only. Where schools and other educational facilities are mentioned they are intended to highlight their distance from the development and don’t represent a guarantee of admission or eligibility. Travel times and distances assume journeys are made by car. Times are likely to vary according to travel conditions and time of day.
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