Page 39 - Redbrik Lifestyle & Property Magazine: Spring 2019

Guarantees for work you have
had done; Planning Permissions; Building Regulations Certificates; and Leasehold Documents if your property is Leasehold.
By completing all of these documents in advance, and being sale ready, when a sale is agreed on your property all of these documents can be sent over to the buyer’s solicitor straight away.
COMPREHEND CONVEYANCING
This is the final legal hurdle to jump over. Conveyancing basically means legally transferring a property from one person to another. By law, it
has to be carried out by a solicitor
or licensed conveyancer who will handle all the legal aspects of buying or selling a property for you – carry out local council searches, deal with land registry, and transfer funds. It’s an important role, so choose carefully. The longer the process takes, the more likely your sale may fall through. So, do your research and pick a solicitor with a good reputation, who will keep you updated regularly and support you through the process. Solicitors are usually more expensive than conveyancers and are qualified lawyers, so they can offer a full range of legal services.
We only work with tried and trusted solicitors for conveyancing services and can recommend a number
of local organisations. You could
also ask friends and family, your mortgage broker or financial advisor for recommendations. Make sure
your chosen property specialist is a member of the Law Society of England and Wales and a member of the
Law Society’s Conveyancing Quality Scheme. Conveyancers must be members of the Council for Licenced Conveyancers.
Throughout this process, your Redbrik Sales Manager will be there to
guide you every step of the way, ensuring that the sale of your property completes on time by ensuring solicitors, mortgage advisors and anyone in the chain is kept up to date with what is happening and making sure each person is doing what they should be.
ENSURE YOU INSURE
While your solicitor handles the conveyancing, there are other things
that you also need to organise, including insurance.
Buildings insurance covers your new home against fire, flood and storm damage. Mortgage lenders usually want to see that you have arranged buildings insurance from the date of Legal Completion. Contents insurance covers the contents of your home against fire, flood and theft. Mortgage lenders don’t usually need you to have this, but it’s very sensible for your own protection.
You should also think about having personal insurance in case your circumstances change. There are different types of life insurance and these include:
• Life insurance gives your next of kin a lump sum should you die
• Critical illness insurance gives you cash should you become critically ill
• Income protection gives you a monthly income if illness or an accident stops you working
• Mortgage payment protection pays your mortgage if you can’t work
YOU HAVE DONE IT!
This is the day you have been waiting for - it means that you become
the owner of your new home!
Legal completion takes place after exchange of contracts and when your new home is ready to move into. Sometimes exchange and completion happen on the same day, but more often they are a week or two apart.
On the day of legal completion, you can expect the following:
• Your mortgage lender releases the money to pay for your new home
• You pay other costs, such as stamp duty and solicitors fees
• Your conveyancer or solicitor receives the title deeds for the home
• Your conveyancer or solicitor registers the transfer of ownership of the home with the Land Registry
• We will meet you and hand over the keys so you can move into your new home!
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PROPERTY READY