8 / 40
6
©
Copyright Glaric Consultancy Ltd. 2015
For most people buying a house and/or selling a house is the single
largest transaction of their lives. Rogers & Norton can help guide you
through the process and make the transaction of a house purchase or a
house sale as stress free as possible.
Their Residential Conveyancing Team is one of the most well respected
teams of Residential Conveyancers in the region.
They aim to make all transactions as smooth and stress free as possible.
Rogers & Norton are approachable and at the same time, by using
up to date technology and employing experienced staff, they aim to
provide a quick and professional service.
Rogers & Norton would be delighted to provide a fully detailed
conveyancing quotation for your needs, whether you are moving to the
area or moving within the region.
Rogers & Norton 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 they provide an explanation of some of the
conveyancing phrases you may encounter when considering a sale or
purchase.
Terms and 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 of 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.
Rogers & Norton Solicitors - A friendly face in times of need