How long will it take to complete the sale or purchase?
We are unable to give a definite timescale, as all transactions are unique however, we estimate that the majority of straight forward transactions take between 6 to 8 weeks from file opening to completion. If the property, which you are selling or purchasing is leasehold then the transaction may take longer as there is more information to obtain and enquiries to deal with.

When will exchange of contracts take place?
We are unable to exchange contracts until such time as we are in receipt of satisfactory replies to our enquires, search results and mortgage offer (if applicable) in respect of a purchase together with a signed contract and cleared deposit funds. With regards to a sale we cannot proceed until such time as the Buyer’s solicitors have confirmed that they are ready.

When can I book my removals?
When contracts are formally exchanged the transaction becomes legally binding on all parties and the completion date is set. We would strongly recommend not to make any firm bookings until exchange of contracts have taken place as many companies have cancellation charges in the event that the completion date changes prior to exchange of contracts.

When do I have to pay the deposit in respect of a purchase?
Once we have completed all of our enquires we will contact you to arrange to sign the contract and associated documents. We will usually prepare our invoice and completion statement in readiness to proceed and request that you transfer the balance to complete to our account. If completion is not imminent we may only request the deposit funds at this time.

How much deposit do I have to pay?
Usually on exchange of contracts a deposit of 10% of the purchase price is payable. Sometimes a full 10% deposit is not always available and we would ask that you advise us what deposit funds you have available in order that we can advise the Seller’s solicitors to ensure that a lesser deposit is acceptable. In any event the contract provides that even if less than 10% deposit is paid on exchange a full 10% remains due under the contract. In the event of breach of contract the Seller is entitled to retain the deposit and claim the remainder of the deposit funds up to the full 10%.

What happens on the day of completion?
On the day of completion the buyer’s solicitor will pay over the balance of the purchase money. The seller’s solicitor will collect the balance of the sale price of the seller’s existing home. Legal completion then takes place. If a related purchase is to coincide with the sale, the money needed to complete the payment due on such a related purchase will be transferred to the seller’s solicitor.

When can I get my keys on the day of completion?
Once the relevant parties’ solicitor has received the proceeds of sale they will authorise the estate agent to release the keys. You will be contacted usually by the estate agent to advise that the keys are available. As the completion monies are transferred through the banking system by telegraphic transfer there is no control over what time the funds will arrive in the relevant account other than before the close of business. Where there is a chain involved it may take longer for the keys to be released, as the money may have to pass through various accounts. Be prepared to be patient.

When must I vacate my property?
On completion day vacant possession must be given and as soon as we have received the proceeds of sale legal completion has taken place and you must vacate the property as quickly as possible.

When will my first mortgage payment be?
We are unable to advise when the first mortgage payment will be taken following completion and you will need to contact the mortgage company directly concerning this and to arrange a convenient date for the direct debit to be taken.  Please note depending on the date of completion the first mortgage payment may be greater.

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