What Your Solicitor Does
When you are selling
Seeks all other relevant legal documentation from various parties connected with the transaction Prepares a contract and gathers together all necessary legal information and forwards it to the purchasers solicitor Liaises with the purchasers solicitor regarding boundaries, fixtures and fittings, and guarantees for works carried out on the property and answers any enquiries necessary Liaises with the purchasers solicitor and estate agents regarding any negotiations which have arisen as a result of the surveyors recommendations or conditions on the purchaser’s mortgage offer
Approves the transfer deed Asks you to sign the contract which has been approved by the purchaser’s solicitor Forwards the settlement figure for completion required from the purchaser to their solicitor Transfers funds to your mortgagor in order to repay your existing mortgage, pays your estate agent, subtracts legal fees including any costs for outstanding disbursements and forwards the balance to you along with your completion statement Notifies land registry regarding change of ownership
When you are buying
Arranges searches to establish if there are any environmental or planning issues Liaises with the vendor’s legal representative regarding boundaries, alterations, fixtures and fittings and relevant guarantees for work carried out on the property Discusses with you the content of your survey report and mortgage offer and advises of any necessary action to take Liaises with the lender regarding any recommendations or conditions on your mortgage offer and finalises the legalities of the lending Checks the content of the contract and provided that it is satisfactory to all parties, asks you to sign it and requests that you provide the deposit Applies for funds from the bank in good times so that they are ready to transfer to the vendor’s solicitor on the day of completion Confirms necessary insurances are in place Exchanges contracts On completion, forwards the mortgage funds to the seller’s solicitor and receives the original title deeds. Stamp duty will be paid, transfer deed sent to the land registry and the mortgage deed forwarded to the mortgage company You will then be sent a final account statement