Before reaching the stage of formal contracts for buying a house, there are matters which have to be organised. If you are purchasing at an Auction, then these matters need to be sorted prior to attending the auction.

1. Arrange adequate finance to take account of all possible expenditure

These will include:

• Full purchase price (to include booking deposit, 10% contract deposit and final balance) 
• Legal fees and outlays 
• Building survey 
• Building insurance (from date of contract) 
• Mortgage and associated outlay costs

2. Be in receipt of Final (unconditional) Loan Offer 

• Finance arranged for Booking Deposit (if applicable) 
• Finance arranged for contract deposit (10%) 
• Bridging Finance, where necessary 
• Stage Payments, where necessary

3. Be certain of the Description of the Property 

• Have a surveyor or engineer confirm that the property on the map corresponds with what you understand to be included in the transaction. It is important that the boundaries of the site are agreed and confirmed prior to formal contracts being signed. 
• What contents if any, should be included in the contract 
• Confirm that the property is serviced by the Local Authority (or otherwise) and what are the responsibilities/ liabilities which attach to the services. 
• Is contract subject to certain planning permission requirements? 
• Is the property or area subject to development/planning restrictions, Compulsory Purchase Orders (CPO's) or road widening schemes? Check with the relevant Local Authority planning department. 
• Confirm that any easements or rights of way are agreed

Notes
In the Conveyancing process, it is standard practice for Legal Fees and Outlays to be paid on or prior to the Purchase closing date (i.e. the date the Loan Cheque issues). A full and detailed statement of account will be provided to you at that stage. If sale falls through, prior to completion, we will amend our costs estimate to reflect work done to date based on our hourly rate plus outlay incurred.