Why Choose Prime Choice?
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Frequently Asked Questions
There are certain factors that can speed up or delay the completion of a house purchase/sale, but ordinarily we would expect a straight forward transaction to complete within 6-8 weeks of the sale/purchase being agreed and solicitors being instructed. A purchaser/seller should never commit to delivery of goods, taking time off work, or a date for works at the property until the solicitor confirms the actual completion date.
Solicitors fees can vary significantly from firm to firm but most set their fee according to the value of the property being purchased. It is important to get any quote in writing so can you see what exactly is covered. Outlays such as registration costs and stamp duty will be the same regardless of the solicitor you use. For further information about solicitors/conveyancers please contact the team.
This helpful link will help you work out the Stamp Duty cost: https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro
You are not obligated to get a survey though it is prudent to have one carried out. The Lender will always carry out a valuation of the property. It is important to note that the survey carried out by the Lender is for their purposes only to assess the value of the property compared to the loan amount you have requested. Their report is not to advise you on the condition of the property.
Until the contract has been signed by both the seller and purchaser, and their respective solicitors both have a copy of the signed contract, either the buyer or seller can pull out of the transaction at anytime and for any reason. No money will be payable as compensation by the person pulling out of the property sale.
You are deemed to be what is known as "in contract" when both the seller and purchaser have signed the contract, and the buyers solicitor has received a copy of it.
Once the title deeds of the property have been checked and queries have been resolved and documents received to the satisfaction of the purchasers solicitor, they will discuss a completion date with you. The solicitor will advise you of the soonest possible completion date and you can instruct them as to your preference. This date will be communicated to the seller and their solicitor to see if same is agreeable. Once all are in agreement, a date will be added into the contract before being sent to the seller for their signature. You should note however, that even at this stage, the completion date can change and nothing is binding until the seller signs the contract and the buyers solicitor has a copy of it.
Normally, Prime Choice will hold the keys, as soon as we recieve confirmation of completion we can release them.