Thinking of getting your first home or moving house? We provide legal support for the selling and purchasing of residential homes, as well as commercial properties.
Timing:
You can rely on Sherlock Law to do more than just the legal bit- but also to be there to support you throughout a property transaction; a single house purchase, a sale and purchase, managing a chain of transactions.
Things to consider buying or selling a house:
- Main steps are advising on heads of terms before a binding contract is in place
- Pre contract review of title, planning, funding and development opportunities
- Advice on residential properties including pre-contract investigation of title and highlight of relevant issues such as Rights of Way, management company structures, and impact of covenants on title such as restrictions on use of the property.
- Contract binding stage. When contracts are exchanged and a binding agreement is in place both parties have both the benefit and the obligation of a binding agreement.
- Preparation for completion. In residential property this includes review of Local Property Tax, non-principal private residence (NPPR), finalising drawdown of funds.
- Searches and final completion with execution of documentation.
Common Issues:
- Issues of title such as Rights of Way, boundary issues, absence of title documents
- Planning where development has taken place, the planning documentation sought or required to make a property saleable
- Lending requirements where a bank imposes third party obligations such as a guarantee.