Purchasing a property can be very exciting. However, it is important to keep in mind that it is a huge decision which is accompanied by many confusing and binding responsibilities. Whether you are a first time buyer, or you have a large property portfolio, it is important use a solicitor throughout the purchase process.
At Bloomsbury Law, we have assisted property buyers of all different types to best secure their needs. We will first take your instructions and understand your goal, answer any queries that you may have and advise you accordingly.
The purchase process has several steps involved that must be closely adhered to. The basic structure for property buyers is the:
- Drafting of contracts by the seller once he or she has accepted the buyers offer;
- Property survey to ensure the value of the property and its structural integrity;
- Legally binding exchange of contracts which confirms the purchase upon payment of a deposit of usually 10% of the purchase price; and
- Completion date is when the balance is paid and the buyer can collect the keys from the seller.
This is the same process for foreign property buyers. Foreign buyers should exercise more caution if they are not in the UK to view the property themselves. If you are in the process of purchasing a property, please call us so we can take you through the process step-by-step.
What do I do next?
Contact us online or speak to one of our experienced property lawyers on 0207 998 7777 for a free initial consultation. With our vast experience in the field, our team will work with you to ensure this process runs as smooth as possible. All information you provide us with is treated with the utmost confidentiality.
We will contact you no later than the next working day to arrange a meeting at our offices in London W1 to advise on the agreement.