What Legal Steps Should I Take Before Buying a Property?
Are Your Finances in Order?
Before you start house-hunting, make sure your finances are in good shape. If you're getting a mortgage, speak to a mortgage advisor to understand how much you can borrow. You’ll typically need:
✔️ A deposit (usually at least 5–10% of the property price)
✔️ A mortgage agreement in principle (AIP) from a lender
✔️ Additional funds for legal fees, surveys, and stamp duty (if applicable)
Having these financial foundations in place will put you in a stronger position when making an offer.
Choose the Right Property Solicitor or Conveyancer
Once you’ve had an offer accepted, one of the first things you’ll need to do is instruct a property solicitor or licensed conveyancer to handle the legal side of the transaction. Your solicitor will:
✔️ Conduct searches to check for issues like flood risks, planning permissions, and restrictions on the property
✔️ Review the contract to ensure the terms are fair and that there are no hidden liabilities
✔️ Handle the transfer of ownership and liaise with the seller’s solicitor
Choosing an experienced conveyancing solicitor ensures the process runs smoothly and protects you from potential pitfalls.
Conduct the Necessary Property Searches
Your solicitor will arrange several searches on the property, which may include:
🔎 Local authority searches – Check for planning issues, roadworks, or legal restrictions
🔎 Environmental searches – Identify risks like contaminated land or flood zones
🔎 Water and drainage searches – Ensure the property is connected to main water supplies
These searches help uncover any hidden issues that could impact the property's value or your ability to make future changes.
Review the Contract and Mortgage Offer Carefully
Before proceeding, your solicitor will review the draft contract provided by the seller’s solicitor. This document includes:
The agreed price and deposit amount
Details of fixtures and fittings included in the sale
Any legal restrictions on the property
If you’re using a mortgage, your lender will also provide a formal mortgage offer, which you should read carefully. It’s important to check that the loan terms are exactly as agreed, as this is a legally binding agreement.
Arrange a Property Survey
A mortgage valuation is not the same as a survey! Many buyers assume their lender’s valuation is enough, but it only confirms whether the property is worth the agreed price. A full property survey gives you a detailed insight into the condition of the property.
Types of surveys:
Homebuyer’s Report – Ideal for standard properties, highlights potential issues
Full Structural Survey – Best for older or non-standard properties, gives a detailed condition report
If the survey uncovers serious issues, you may be able to renegotiate the price or ask the seller to fix the problems before exchange.
Exchange Contracts and Pay Your Deposit
Once all searches, surveys, and mortgage approvals are completed, you’ll be ready to exchange contracts. At this point:
📌 You pay your deposit (usually 5-10%)
📌 The agreement becomes legally binding – if you back out after this stage, you could lose your deposit
📌 A completion date is set (usually a week or two after exchange)
At this stage, you’ll need to make sure your buildings insurance is in place, as most mortgage lenders require this before completion.
Completion and Moving In!
On completion day, your solicitor will:
✅ Transfer the remaining purchase funds to the seller’s solicitor
✅ Register you as the new owner with the Land Registry
✅ Handle payment of Stamp Duty (if applicable)
Once the seller’s solicitor confirms receipt of the funds, the property is officially yours, and you can collect the keys!
Need Help with Your Property Purchase?
Buying a home can feel like a minefield, but with the right legal support, you can avoid common pitfalls and ensure a smooth transaction.
At Everglynn Law, we have specialist property solicitors who can guide you through every step of the process – from searches and contracts to completion. If you need expert legal advice for your property purchase, get in touch today.