Rogers and Norton
Solicitors
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Buying & Selling your Home
For most people buying a home is the single largest transaction of their lives.
We can help guide you through the process and make the transaction of buying and selling your house as stress free as possible.
Our Residential Conveyancing Team is one of the most well respected teams of Residential Conveyancers in the region. We aim to make all transactions as smooth and stress free as possible. We are approachable and at the same time, by using up to date technology and employing experienced staff, we aim to provide a quick and professional service. We would be delighted to provide a fully detailed quotation for your needs, whether you are moving to the area or moving within the region.
We will always explain to you the steps which will be involved in your transaction, from the initial stages of obtaining the title deeds and preparing a draft contract on your sale, to completing the transaction on the date when you move into your new home.
To assist you further we provide an explanation of some of the phrases you may encounter when considering a sale or purchase.
Terms & Phrases
- Seller. The party selling a property. May also be referred to as the Vendor.
- Buyer. The party who is purchasing the property to be sold. May also be referred to as a Purchaser.
- Deposit. The contract provides that the Buyer, at exchange of Contracts shall pay a deposit of 10% of the purchase price. In practice this is usually less than 10% especially if you have a sale and a purchase.
- Conditions of Sale. These are set out in the Agreement for Sale. All Agreements have standard conditions of sale prescribed by The Law Society which set out the procedure that must be followed during the course of any sale.
- Agreement for Sale. This is also known as a contract. This is the document that is drawn up by the Solicitor acting for the Seller. It is produced in duplicate. It will set out the details of the Seller and Buyer, the purchase price, deposit and conditions of sale.
- Title Deeds. The title to the property will be either of the following:-
- Registered Title. This is a title that is registered at the Land Registry and the Register will be kept at the Land Registry.
- Unregistered. This is a title that consists of a number of original deeds. Since 1989 all properties that are sold or transferred in England and Wales have had to be registered on the first transaction at the Land Registry.
- Exchange of Contracts. This is the point in the transaction where the Buyer and Seller are committed to the sale and purchase under the terms of the Agreement for Sale.
- Completion date. This is the day you will move out of your property and move into your purchase property.
- Freehold. This means that the building and the land on which it stands and any garden land, is owned together and forms a freehold title.
- Leasehold. This is normally a flat; you will own the flat and the interior walls. You will have a Landlord who will own the land upon which the building stands and the exterior walls, roof and common parts which are freehold.
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