Great news! Your case is progressing and you are one step closer to owning your new property. If you have received a text message from our automatic text update service then check below for further information on the key stage that your file has reached.
We receive your completed Purchase Questionnaire, ID, and confirmation of your source of funds. The Purchase Questionnaire is the form in which you provide us with all the information we will need to transact your purchase, and you provide written consent for us to act on your behalf.
We receive the reservation agreement from the estate agent or Housing Association. This Memorandum confirms the details of the sale and provides us with the details of the solicitor acting for the Housing Association. It also sometimes confirms the exchange deadline required by the Housing Association.
We receive the contract pack from the Housing Association’s solicitor. This pack should contain all the legal documents that we need to review and investigate in order to ensure that the property being sold to you will be acceptable to you and your lender.
We have submitted a request to the Local Authority, drainage provider, and environmental consultants to provide ‘searches’ on the property. The searches form part of our investigations to make sure that the property is not blighted by any issue (eg contaminated land; rights of way passing through the property; any enforcement notices etc)
We have prepared our reports to you on all the searches and have sent them to you. When you receive these, please make sure you read through them carefully.
We have received our copy of your mortgage offer. It usually arrives with us 1-3 days after you have received your copy and contains further instructions, setting out your lender’s requirements from us.
We have sent a copy of the mortgage offer to the Housing Association, who will need to approve it before we can proceed with your purchase. We will also now deal with any special conditions which your lender may have asked us to deal with.
Your file has been referred to our ‘Title Report Team’. This team will prepare a summary for you which contains all our advice about the property you are purchasing. It will also include all the documents which relate to your property, including a plan and copies of any planning permissions.
Your report has been prepared. Your file will now be with your team who will be copying and bundling all the documentation and preparing any documents that you will need to sign.
The report and it’s enclosures have been sent to you – please keep an eye out for it and ready it carefully. If there is anything you need to sign, please return them to us as soon as you can.
We have reviewed the contract pack, and have raised enquiries with the Housing Association’s solicitor. The enquiries may relate to further documents which we will need to see; clarification of certain points; or we may be negotiating amendments to the lease on your behalf. Your lender may have asked us to report to them on certain provisions within your lease. We will do this now, and will need their confirmation before we can exchange contracts. Lenders may take 3-5 days to respond to us.
The Housing Association’s solicitor has replied to our enquiries – however, we will need to spend time reviewing those replies to ensure that we are happy with the further information they have provided.
We have reviewed the replies to the enquiries.
Your solicitor has reviewed your file in readiness to exchange contracts. This review will identify any outstanding items which your solicitor needs to attend to.
We are now ready to exchange contracts. We will contact you when the Housing Association’s solicitor is also ready. You will then be able to provide us with your final authority which will commit you to buying your property.
We have exchanged contracts. You are now legally bound to purchase your property, and the completion date has been set.