Sale, Purchase, Lease Extensions, Right To Buy, Transfer of Equity.   

At Edwards Duthie we provide a professional and personal property service for clients buying or selling or re-mortgaging their leasehold or freehold properties.  We also act for Banks and Building Societies and other financial institutions.  We provide, in addition, a bespoke service for clients buying residential properties for investment and letting purposes. 

The quality and experience of our Property Team enables us to deal with transactions both swiftly and smoothly.  We can anticipate areas of difficulty at an early stage and advise on solutions.  It is often said that buying and selling a property is one of the most stressful experiences a person has to go through.  We aim to relieve our clients of the pressures involved in this process.  The emphasis that we place upon providing a quality service to our clients means that our fees are both realistic and transparent.  All our quotations are confirmed in writing upon acceptance. 

The property services that we provide in addition to those indicated above are:

• Buying and Selling Residential Properties both Freehold and Leasehold
• Leasehold Flats
• Estate Conveyancing
• Buying the Freehold of Leasehold Properties and Blocks
• Lease Extensions
• Re-Mortgaging
• Right to Buy
• Buying and Selling at Auction
• Transfer of Equity
• Shared Ownership

Please feel free to telephone a member of our property team on 0208 514 9000 or email us on for a quotation or to discuss your proposed transaction.  We have set out below some frequently asked questions and answers to assist you in:

• Purchasing a property - what do I need to do?
• Selling a property - what do I need to do?
• I want to buy and sell at the same time - how can I do this?
• What documents do I have to sign?
• What is meant by "exchange of contracts"?
• What is meant by "completion"?
• How long will the transaction take?
• What is meant by a "chain"?
• When do I know the property is mine?
• What is gazumping?
• What is a local search?
• Do I need a survey?
• Insurance?
• Do I need a 10% deposit?
• Can I extend the property?
• What is a contract race?
• Why am I asked for ID?

Purchasing a Property - What Do I Need To Do?

You need to contact us and your proposed mortgage lender.  Your application for a mortgage should be made as soon as possible and you should pay any survey or valuation fee your lender may ask for.  We will contact the seller's solicitors and request a contract and the usual paperwork. It may not come through for a couple of weeks because the seller's solicitors may need to obtain certain documents from the seller's mortgage lender before they can do anything.  We will also raise any necessary additional questions with the seller's solicitors.

Selling a Property - What Do I Need To Do?

You need to contact us as soon as possible.  If you have a mortgage, we need your account number to enable us to contact your mortgage lender to obtain any documents held by your lender.  We also need your full property address to obtain H M Land Registry Official Copy Entries.  When we receive the required documents, we will prepare a contract to send to your buyers solicitor.  We will send you a Property Information Form and Fixtures, Fittings and Contents List to fill in.  The Property Information Form gives details about the property which the buyer will need to know. The Fixtures, Fittings and Contents List sets out which items you are leaving at the property and which you are taking, eg. carpets and curtains.

I Want to Buy and Sell at the Same Time, How Can I Do This?

Most people want to move out of their existing property into their new property on the same day. We synchronise your sale and purchase. We will need to keep your buyer's solicitors and seller's solicitors informed of how the other matter is progressing, and negotiate appropriate dates with them.  You need to ensure that your new mortgage application goes ahead smoothly.  Conveyancing can be slow as a chain may be involved and exchange needs to be synchronised on all transactions in the chain.  We will let you know about progress when it happens.

What Documents Do I Have to Sign?

If you are just selling a property, you only have to sign the sale contract and the transfer. If you are buying a property you must sign your purchase contract, and the mortgage deed.  We will ask you to come to see us to sign all your papers.  Mortgage deeds usually have to be signed in the presence of a solicitor.  We will also ask you to bring some form of identification, eg. your passport, as mortgage lenders require that we check your ID on their behalf.

What is Meant by "Exchange of Contracts"?

Exchange of contracts means the transaction has become binding.  The buyer pays a deposit, usually of 10% of the price, but it can be less if the buyer is obtaining a mortgage of more than 90% of the price.  On exchange of contracts the completion date (moving date) is confirmed and cannot be altered.  Contracts are exchanged between solicitors on the telephone.  You do not need to be present for us to exchange contracts.

What is Meant by "Completion"?

On completion the buyer's solicitors send the seller's solicitors the money needed to complete the purchase.  If you are buying, we will arrange for your mortgage lender to send us your mortgage money on the completion date.  If you are selling, we will pay off your mortgage when we receive the money from the buyer's solicitor.  When the money has changed hands, keys must be handed into or collected from the estate agents (depending on whether you are selling or buying).

How Long Will it Take?

Each transaction is different but the national average is 8 weeks.  The time taken is often determined by the number of parties in a chain.  We will try so far as we are able to proceed quickly although this is dependant upon other parties in the chain being able to proceed quickly also.

What is a Conveyancing "Chain"?

To avoid the risk and cost of owning two properties people usually decide to buy and sell simultaneously.  A number of linked transactions therefore arise, each dependent on the other and exchange of contracts must take place at the same time in all transactions meaning that the speed of the transaction is dictated by the slowest link in the chain.

When Do I Know the Property is Mine?

Once contracts are exchanged a legally binding agreement arises and neither party should back out.  There are remedies if a party does not complete but this rarely occurs. Until that time, either party may withdraw.

What is Gazumping?

Gazumping is where a seller accepts a higher offer before contracts are exchanged with the buyer.  There is little that can be done to prevent a seller from gazumping although a lock out agreement can sometimes prevent this from happening.  If you require this please let us know.

What is a Local Search?

It is a set of standard enquiries that your solicitor raises with the local authority.  It relates solely to the property itself, but would not, for example, reveal proposals to develop or extend neighbouring land or property.  The local authority charges a fee which we pay from the money paid on account by you.

Do I Need a Survey?

If you are taking out a mortgage your lender will require a valuation but this is not a survey and is for the lender's benefit not yours.  It is always sensible to have your own independent full survey.  This can be a full structural survey or (more usually) a homebuyers report.  We can discuss the options with you.

Insurance

A contract usually provides for you to insure the property on exchange of contracts.  It pays to shop round for buildings insurance and not to just take out a policy with your lender.

Do I Need a 10% Deposit?

Not always.  Although the contract provides for 10% of the purchase price to be paid on exchange, sellers often agree a lower deposit.  This is a matter for agreement between the parties.  You can usually use any deposit you receive on a sale as part payment of your deposit on the purchase.  We can advise you on the best way of minimising your deposit.

Can I Extend the Property?

There are sometimes restrictions in the title deeds or lease if appropriate which prevent extensions or require the consent of another owner.  Some extensions require local authority planning permissions and approval under the building regulations.  Some areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions.  You should check these things with a surveyor before you commit yourself to a purchase.

What is a Contract Race?

This is where the seller offers the property to more than one buyer, usually on the basis that the first to exchange contracts will get the property.  If more than one contract is issued the seller has a duty to tell all parties that this is the case.  If you lose out on a contract race you cannot claim your expenses or costs from the seller.

Why am I Asked for ID?

This is because all solicitors are required to check the identity of their clients to protect themselves against mortgage fraud or money laundering.