Conveyancing process: ready to complete?

This is the stage just before completion of the sale and purchase: ff the draft transfer, etc, are approved (and, if appropriate, signed by the buyer), the final enquiries are satisfactorily answered, the pre-completion search results are satisfactory, and the licence to assign is agreed by the freeholder, the seller’s solicitor will get the completion papperwork signed by the seller, and the buyer’s solicitor will get the completion funds from the buyer (and any mortgage lender), ready for the completion date

By now, the buyer should have arranged his or her own utility suppliers. This is an important point, especially if the seller has been struggling financially. If the buyer does not arrange his or her own utilities promptly on taking over, they may find themselves liable for the seller’s arrears as well. For competitive prices, ease of paperwork and excellent customer service, I prefer Utility Warehouse for electricity, gas and telephone – both landlines and mobiles (they can also do Internet, but not with website hosting, I think). Certainly, I use them for home and work utilities, and am confident enough in them to introduce others to them

Another thing to arrange is the stock valuation: on completion, the buyer must buy from the seller (at cost) all sound and saleable stock. While buyer and seller can value this themselves, my strong recommendation is for them jointly to instruct one experienced stocktaker to do the job, each paying half the stocktaker’s fee. This avoids arguments and delay, and the cost is usually minimal

Apart from that, as with a house move, you need to arrange removals, meter readings, re-direction of post, etc


Leave a Reply

Your email address will not be published. Required fields are marked *

Latest company update from Nelsons

Read now
X myStickymenu