Exchange is the point of no return. Before it, you can walk away. After it, you are bound. Here are the five things we check on every purchase before we let a client sign.
1. The searches have actually come back
Local authority, water and environmental searches take weeks. Do not exchange on a promise that they are on their way. Read them, and ask about anything you do not understand.
2. The survey matches the price
A survey that flags damp, roof work or movement is not a reason to panic, but it is a reason to renegotiate. Get quotes for the work and take them to the seller before exchange, not after.
3. The boundaries and rights of way are clear
The plan on the title should match what you saw on the ground. Shared drives, footpaths and fences that sit in the wrong place are cheap to sort out now and expensive later.
4. The lease, if there is one, has enough years left
For a flat, check the remaining term, the ground rent and the service charge history. A short lease can make the flat hard to sell or mortgage.
5. The money is ready
Your deposit, our fees and any tax should be in a cleared account before exchange day. Chasing a transfer at four in the afternoon is how completions slip.
We quote conveyancing as one fixed fee, in writing, before we open the file.
