Introduction:

Purchasing a home is one of life's most thrilling and anxiety-provoking milestones. Through the paperwork, financial transactions, and arrangements, property searches are vital in revealing potential environmental or legal danger prior to finalizing your purchase. So what follows once they've been completed?

At Kaiser Solicitors, the most typical question we get from clients is: The searches are back what happens next? This process of home buying can seem unclear, particularly for first-time buyers. Knowing the next steps after property searches is the essential key to a smooth and confident route to completion.

Recap: What Are Property Searches?

Let's revisit briefly the purpose and role of property searches before we discuss next steps.

Property searches are queries conducted by your conveyancing solicitor to reveal legal and environmental problems which can impact the property. The most usual searches are Local Authority, water and drainage search, along with environmental, and Chancel Repair Liability Search

Step 1: Reviewing the Search Results:

After all the searches have been carried out, your solicitor will compile the results and inform you of any concerns that need to be dealt with.

Step 2: Raising Additional Enquiries with the Seller:

If your investigations reveal anything unusual or missing, your solicitor will make further enquiries with the seller's solicitor.

- Verification of planning/building regulations consent for extensions.

- Confirmation of road access or maintenance liability.

- Clarification of vague boundary issues.

- Seeking guarantees or certificates for structural work.

Step 3: Your Mortgage Offer and Search Results:

If you're buying with a mortgage, your lender might ask for:

- Assurances that nothing untoward was discovered in searches

- Extra indemnity insurance for particular risks

- Final valuation on current information

Step 4: Completing the Report on Title:

This report is the legal foundation of your purchase. After searches and all enquiries have been finalized, your lawyer creates a comprehensive Report on Title. You'll be sent a copy and have the chance to check everything and ask any last-minute questions.

Step 5: Signing the Contract:

When you and the seller are happy with everything, it's now time to sign the contract of purchase.

Key Points:

- You're not legally committed until contracts are exchanged.

- Your solicitor keeps your signed contract and arranges the exchange with the seller's solicitor.

- You also sign your mortgage deed at this stage.

Step 6: Preparing for Completion:

After contract exchange, this is what happens:

- Your solicitor finalizes financial statements.

- You release residual funds prior to completion.

- Lender sends mortgage funds to your solicitor.

- Final checks are conducted at Land Registry to ensure no last-minute legal titles.

- Your solicitor verifies building insurance.

Conclusion:

The post-searches period is one of the most legally complex and pivotal stages of home purchase. By having a committed and experienced conveyancing team such as Kaiser Solicitors, you can get legal representation and a strategic advisor who safeguards your interests. Get in touch with us and make decisions that are informed and confident.