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Tips for Reducing Stress when Buying or Selling Your Home

DO

  1. Consider our advice as your legal adviser and not just that of your friends, family and estate agents, during the process, we have done it before!
  2. Take time to read through the correspondence you receive from us, it will contain important details and information.
  3. Inform us if you are going away on holiday or will be un-contactable during the process.
  4. Tell us if you have any worries at the beginning of the transaction. This will assist to allay any fears and anxiety you may have.
  5. Let us know at the outset if any part of the purchase price is being provided as a gift or loan to you by a third party
  6. Ensure that sufficient funds are in place for your purchase. Please remember that this needs to include the deposit, (if not coming from your sale) legal fees; stamp duty; land registry fee and costs paid out on your behalf during the transaction for searches

DO NOT

  1. Fix a removal date at the start of the transaction. The moving (completion) date may have to be changed as the matter progresses especially if there is a chain and it is not fixed until exchange (of contracts). If you need to complete within a certain time frame then tell us at the outset so that all parties in the transaction can be informed early on.
  2. Hand over any money or deposit to the Seller or the agent directly. If this is requested then speak to us.
  3. Book your removals until contracts have been exchanged.
  4. If you are in rented accommodation, give notice to your landlord until contracts have been exchanged and the completion date has been fixed.
  5. Cancel your buildings insurance or any regular payments due in respect of the property you are selling until completion.
  6. Forget to clear the property, remembering the garage and attic, of all belongings not included in the sale and make good any damage caused when things are removed.

and very importantly remember your sale and purchase is a 2 stage process

  1. Exchange of Contracts - when a legal commitment to sell and/or buy arises
  2. Completion - the day you would move in/out of your property

This article is intended for general interest, it is not intended to constitute legal advice or to be a definitive analysis of the law.  Readers should seek legal advice on the issues raised before taking any action.