Barnes and Co Solicitors

Helping you understand

Selling a residential property

* We send you a Property Information form and a Fixtures, fittings and contents form to fill out. If you are unable to answer any of the questions about the property, then we can help you with these.
* We obtain the title deeds. If you have a mortgage these will be kept by your mortgage company.
* We prepare the Contract that sets out the terms that have been agreed.
* We send the completed Property information form, Fixtures, fittings and contents form, title deeds and contract to the buyer’s solicitors.
* We deal with any additional queries raised by the buyer’s solicitors and negotiate a completion (moving) date.
* The agreed completion date is inserted in the contract and contracts are exchanged i.e. the contracts signed by the buyer and seller are swapped and we receive a deposit from the buyer. On exchange the contract becomes binding and the parties must proceed.
* We check the transfer deed sent to us by the buyer’s solicitors and find out from your mortgage company how much is due to settle your mortgage (if you have one).
* On the day of completion you have to leave the property. We receive the balance of the sale price from the buyer and send the title deeds to the property to him in return.
* We pay the outstanding mortgage and estate agency and legal fees and send you the balance of the sale monies together with a statement.

The above list of steps assumes that there are no complications. If complications arise as they often do, we will negotiate with the parties with a view to achieving a good solution for you. As we provide a fixed quote at Barnes & Co, you need not worry that you will have to pay us more if this happens.

Buying a residential property

* We consider the information forms, contracts and title deeds sent to us by the seller’s solicitors and ask additional queries, if appropriate.
* We carry out appropriate searches relating to the property and follow up any points arising with the seller’s solicitors.
We check that you have your mortgage offer, if applicable.
* Once we have all of these documents, we report to you on the results, highlighting any potential problems there may be with the property and advising you of the amount of deposit we will need from you. You will also need to sign the contract and we will negotiate a completion date with the seller’s solicitors.
* Once you are happy to proceed, the agreed completion date is inserted in the contract and contracts are exchanged i.e. the contracts signed by the buyer and seller are swapped and the deposit is paid to the seller. On exchange the contract becomes binding and the parties must proceed.
* We prepare the transfer document that passes the ownership of the property to the buyer and send it to the seller’s solicitor for approval.
* We carry out the final searches.
* We arrange for you to sign the transfer document and mortgage deed and send you a statement requesting any balance that is due from you.
* On the day of completion we transfer the balance of the sale price to the seller’s solicitors and receive the title deeds to the property in return. You will be able to collect the keys of the property as arranged and move into your new home.
* We pay the stamp duty, register the purchase at the Land Registry and send the deeds to your mortgage company, if appropriate.

Selling and buying a residential property

Selling

Buying

* We consider the information forms, contracts and title deeds sent to us by the seller’s solicitors and ask additional queries, if appropriate.
* We carry out appropriate searches relating to the property and follow up any points arising with the seller’s solicitors.
* We check that you have your mortgage offer, if applicable.
* Once we have all of these documents, we report to you on the results, highlighting any potential problems there may be with the property and advising you of the amount of deposit we will need from you. You will also need to sign the contract and we will negotiate a completion date with the seller’s solicitors.
* Once you are happy to proceed, the agreed completion date is inserted in the contract and contracts are exchanged i.e. the contracts signed by the buyer and seller are swapped and the deposit is paid to the seller. On exchange the contract becomes binding and the parties must proceed.
* We prepare the transfer document that passes the ownership of the property to the buyer and send it to the seller’s solicitor for approval.
* We carry out the final searches.
* We arrange for you to sign the transfer document and mortgage deed and send you a statement requesting any balance that is due from you.
* On the day of completion we transfer the balance of the sale price to the seller’s solicitors and receive the title deeds to the property in return. You will be able to collect the keys of the property as arranged and move into your new home.
* We pay the stamp duty, register the purchase at the Land Registry and send the deeds to your mortgage company, if appropriate.

Whilst working through the process, we need to ensure that the timing works out so that you are left neither homeless nor owning 2 houses! It is essential that there is good communication between all of the parties in the chain of buyers and sellers whose wishes and expectations may be very different.

Moving checklists

Before moving day

* Remove clutter and rubbish
* Eat freezer contents and defrost freezer/fridge
* Arrange removal company/helpers
* Contact utility companies
* Arrange Post Office redirection (if using)
* Notify bank, doctor, school, card companies, friends, insurance company etc. of change of address
* Arrange babysitting of kids/pets on moving day
* Make arrangements to collect keys
* Keep essential items (e.g. kettle, tea, coffee, cleaning equipment, tools) to one side
* Label keys for new owner and put in safe place so not packed!
* Sort out instructions for equipment remaining in property e.g. boiler, cooker
* Write note to new owners giving any helpful tips e.g. site of stop cock, when rubbish collection is

Moving day

* Tell removal men/helpers what is not to be packed
* Take meter readings at old and new properties
* Put essential items in clearly marked box to be unloaded first
* Deliver and collect keys as arranged once your solicitor gives the go ahead
* Do any cleaning before unpacking as far as possible
* Check hot water/heating arrangements
* Concentrate on unpacking essentials – kitchen, bathroom, bedding
* Relax and enjoy your new home!

Business Leases

The terms that you are able to negotiate will depend on the market and experienced solicitors will be able to give you guidance on this.

As a potential tenant, you need to consider whether the terms of the lease suit your business:

* Can you use the property for the purposes of your business?
* Has the landlord insured the property?
* Can you alter the premises if you need to?
* Do you have an automatic right to renew your tenancy at the end of the term? – your business may be adversely affected if you are forced to move.
* Can you assign or sublet the lease if you want to move?
* Are the provisions for the payment of rent and rent review acceptable?
* What are your obligations to repair the property or pay a service charge?
* Will you need a guarantor for the lease?

Conversely, as a landlord you need to give some thought to the following:

* Is there any restriction on the use of the property?
* Are alterations to the property planned? Are you willing to give the tenant any rebate on rent during refurbishment?
* How long do you want the lease to last? Do you want the tenant to have an automatic right to renew the tenancy?
* Do you want either party to be able to terminate the lease early? Will you allow the tenant to sublet?
* What rent do you want to charge and do you want to be able to review this?
* Who will be responsible for repair and maintenance of the property?

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