Estate Agents
If you are buying or selling a house your first point of contact will probably be with an estate agent.
An estate agent should give you written confirmation of their instructions to sell, what commission you have to pay and when you will have to pay.
Subject to Contract Offers
If you are buying a property and make an offer you should make it subject to contract. This means that if a survey shows up a defect or there is another problem you can pull out of the deal. An estate agent may ask for a small deposit at this stage but you are not committed to the sale and you will get the deposit back if the sale falls through.
What the price includes
The items normally included with a property when it is sold are often called fixtures and fittings. When selling a property your solicitor will normally get you to make a detailed list of what is included. This forms part of the contract. Buyers should check what is included and not just assume.
Surveys
There are three different types of survey giving varying amounts of information and detail.
Mortgage survey is carried out by your building society/mortgage lender and will give limited information. It merely reflects that the price offered is close to the property's value so it can be recovered if the property has to be sold.
House buyer's report is more detailed.
Full structural survey is the most thorough.
Contracts
You will be legally committed to the sale and cannot pull out once contracts have been signed and exchanged. At this point the buyer will usually pay 10% of the agreed price. The sale will be complete when the buyer pays the balance of the monies due.
WE CAN OFFER A FULL CONVEYANCING SERVICE ON RESIDENTIAL AND COMMERCIAL PREMISES.
WE ALSO DEAL WITH TRANSFER OF EQUITY IN PROPERTY.
FOR MORE DETAILS CONTACT RICHARD BRAMWELL ON 01827 65765 OR E-MAIL property@markmatthewssolicitors.co.uk