Our Buying and Solicitor Process: Making It Simple for You
Last updated: 3.34pm, Tuesday 23rd February 2021
We like to keep everything simple, easy and without any hassle for you. This explains the process for buying a property and the solicitor process.
by Gordon Campbell
23rd February 2021
The Buying and Solicitor Process
We like to keep things simple and straight forward at Alliance.
The reason for that is our experience, knowledge, our systems, and procedures, as well as the strong Power Team we have around us to help to deliver that high level of service.
In our blog last week, we explained The Difference Between The Scottish and English Property Market. (click the link to open)
A part of that difference is the solicitor and the buying process.
In Scotland it is a lot quicker and simpler.
So a central part of our power team is the solicitor who provides a very efficient, professional and responsive service.
We work very closely with the investor and solicitor at all stages.
What Happens When I Wish to Proceed with an Offer?
- Once you wish to proceed with an investment come back and inform both firstname.lastname@example.org and email@example.com by email that you wish to proceed with purchase.
- We will introduce you to our highly recommended and efficient solicitor.
- The offer will be issued from the solicitor to the vendors solicitor the same day.
- The offer will be accepted, usually within 1 week (Qualified Acceptance).
- Once QA has come back, the solicitor will report on the titles and then missives.
- There will be regular and efficient communication between you, solicitor and us so will guide you through everything that is required.
- With your authorisation we can be kept in the communication which helps to further simplify the process, communication and speed.
- Completion from offer to completion, on average takes 4 weeks.
- Sometimes, not often, it can take a bit longer if the other solicitor is no efficient.
What Information Do I need To Provide?
- The solicitor will ask for the directors of the company buying the property for certified ID to comply with Law Society and UK Anti Money Laundering Rules.
- The ID has to be passport and proof of residence address e.g. utility bill
- The ID has to be certified by a solicitor in your area.
What About Proof of Funds?
- Proof of funds with 6 months bank statements in English will be required shortly after the offer has been made.
- The transfer of funds can be transferred direct from your home country personal bank account to the solicitor.
- The funds can also be transferred from your UK bank to the solicitor.
What Happens During the Conveyancing Process?
- Further clarifications are likely after an offer has been accepted, for instance, the date of entry, but the solicitor will keep you informed at all times.
- If there is any points that need to be actioned or confirmed, the solicitor will always ensure you are advised and what response or action is required.
- Once all points have been agreed in writing, a binding contract will have been formed. This contract is often referred to as concluded Missives.
- Completion of the purchase will take place, usually 1 week after the Missives being signed.
- Up to the point at which Missives have been signed you the buyer can withdraw from the purchase at any time.
- When Missives are singed (done on your behalf by your solicitor in UK) you are now tied to a contract to buy the property and if you then decide to withdraw there will be penalties.
- Completion will then take place.
- Alliance will collect the keys, liaise with you and the refurbishment team on next steps.
You can be reassured that the solicitor and ourselves will look after your best interests at all times, you will always be kept informed with nothing being done or decided without your input.
We are always here to help with any questions at any time by email, WhatsApp, Zoom/Skype.
All of that ensures you enjoy a simple, smooth and seamless buying process.
Alliance Property Group: Building long term relationships and Making a Difference.
Gordon and James