After Completion

After Completion

If I am owed money when will you pay this to me?

Sometimes there may be money left over once the property has been completed. If this is the case you will be paid this money by cheque which will be sent to you on the day of completion, unless you request otherwise beforehand. Cheques will be made payable to both parties and therefore if you require the cheque to be made in only one parties’ name then we require written confirmation of this from both parties.

What do you deal with after completion?

If you are buying we apply to the Land Registry to register you as the new owner, this can take between 4 and 6 weeks. If you are selling a property we send the Title Deeds to the purchasers solicitors and they register the new owners with the Land Registry.

If Stamp Duty is applicable we send the Transfer Deed to the Inland Revenue and complete the return.

Once you have been registered as the new owner we will receive your Title Information Document that proves that you are the owner of the property.

This is sent to your lender. You will then be contacted by us to come and collect the remaining important deeds and documents that have been sent to us by the
Sellers Solicitors.

What if I find something out after completion that the Sellers didn’t tell me about?

Buyers are generally expected to rely on their own independent searches, surveys and reports. This is why having your own survey done is so important.

In any event, apart from the Sellers Property Information Form, the answers given by the sellers to any enquiries usually includes a disclaimer that they are given to the best of the sellers knowledge and cannot be treated as guarantees.

Therefore if you, for instance, find a damp patch after moving in, it is unlikely that you would be successful in suing the sellers. However, if you did decide to sue the sellers and the total loss does not exceed £5,000.00 then this would be a claim in the Small Claims Court and further details can be provided upon request.

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