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Glossary of Terms Who does what Ready Steady Go
Purchase Instruction Form Sales Instruction Form
FREQUENTLY ASKED QUESTIONS
We will try to answer the most frequently asked questions here. However, if you have a question that is not covered please don’t hesitate to contact us
Q. How long does the house buying process take?
A. The average time from instruction to actually moving
in is eight weeks. Being part of a chain can lengthen
the time it takes as you will have to wait until
everyone in the chain is ready.
Q. How much does it cost?
A. The cost will depend on the price of the property.
Please telephone or e mail us for a no obligation
quote.
Q. Do I have to pay any money up front?
A. Yes if you are buying a property. We will ask you
for £175 towards the initial costs and searches.
Q. What happens if I pull out?
A. You can pull out at any time before exchange of
contracts. You would then lose any money that you
have paid out for surveys and searches, even if it is
not your fault that the transaction falls through.
Our fee on these occasions will be limited to 75
(plus VAT where appropriate).
Q. Do I have to pay a deposit, and if so, when?
A. Technically you will have to pay a 10% deposit if you
are a first time buyer (subject to mortgage
arrangements). However, if you are selling a property as well,
the deposit from your buyer will be used as the deposit on
your purchase. The deposit will be required prior to exchange
of contracts.
Q.Why have you taken my search money but not
requested the searches from the local authority?
A. Some local authorities insist on having a plan
from which to do the search. In those cases we need
to wait for a plan from the seller's solicitors. This
can take anything up to three weeks as the seller's
solicitors have to wait for the title deeds to arrive
with them from the mortgage lender of the seller.
Q When do I pay the legal fees?
A. All of the monies due for our fees, stamp duty
and the land registration fee etc., must be paid to
us prior to completion. If monies are paid
late or not cleared in time it may delay the
completion day.
Q. How early on completion day do I get the keys?
A. On the day of completion monies are sent through the
banks electronic systems from the buyer's
solicitors to the seller's solicitors. The seller's
solicitors cannot release keys until they have
received the money from the buyer's solicitors.
It can take as little as an hour for money to be
received. Unfortunately, it can also take up to
6 hours depending on how busy the system is.
Generally speaking the shorter the chain the
quicker the move.
Q. Where do I get the keys from?
A. If there is an estate agent dealing with the sale you
will usually get the keys from them. If there is no
estate agent you will need to speak to the seller
direct to make your arrangements.
Q. When will I receive any monies owing to me on my sale?
A. These funds will be forwarded to you on the day of
completion. Payment will usually be by cheque or
bank transfer. However, if you require a same
day transfer
there will be a charge of £23.50 for this.