Contracts received, what next?

Coffeegal32

Hi all,

We are in the middle of buying our first house! After a bit of a wait the contracts where received by our solicitor today. I know she will write out to us, but I'm just wondering while we wait for that letter what are the next steps in the process and how long can it take (even a ballpark timeframe)

TIA

Cash_Q

You'll be asked to come in to sign the contracts. Your solicitor will raise any queries they may have e.g. land registry etc. There should be a closing date outlined in the contracts, don't sign until you agree this date. The vendors solicitor will then have their client sign the contracts and both parties are officially bound to the sale. You should expect that the vendors return the signed copies within a week or two, if they don't then keep the pressure on and ask why they are stalling. Good luck.

tradesman

Coffeegal32 wrote: »

Hi all,

We are in the middle of buying our first house! After a bit of a wait the contracts where received by our solicitor today. I know she will write out to us, but I'm just wondering while we wait for that letter what are the next steps in the process and how long can it take (even a ballpark timeframe)

TIA

Is this a new house or secondhand?

Victor

Coffeegal32 wrote: »

Contracts received, what next?

Read the contracts.

Coffeegal32

tradesman wrote: »

Is this a new house or secondhand?

@ Tradesman is it a secondhand house

Coffeegal32

Cash_Q wrote: »

You'll be asked to come in to sign the contracts. Your solicitor will raise any queries they may have e.g. land registry etc. There should be a closing date outlined in the contracts, don't sign until you agree this date. The vendors solicitor will then have their client sign the contracts and both parties are officially bound to the sale. You should expect that the vendors return the signed copies within a week or two, if they don't then keep the pressure on and ask why they are stalling. Good luck.

A Cash Q, thank you so much for you reply yesterday!

Coffeegal32

Victor wrote: »

Read the contracts.

No need for the condescending reply. It was a genuine question. I clearly know that we will have to read the contracts. This was a more general query on what steps follow our solicitor receiving the contracts.

Cash_Q

P.s. it can be at this stage that you discover the true position of the vendor, e.g. they're either ready for the sale to proceed asap or they're in a chain (which of course is common and not to be feared) or are waiting on a house to be built in ten months...hence the need to be sure you're happy with the closing date.

In our case we were to sign in January with closing date to be March; when we arrived at solicitors office we were told that the vendors solicitor had just been in touch and the people renting the house had challenged their notice and would be there until August. Our solicitor advised us not to sign and to think about it first, but we knew the house was the one we wanted and thankfully were not in a hurry to move. March rolled around and the tenant suddenly left, leaving us free to close. Living here 5 weeks now

Rew

Coffeegal32 wrote: »

No need for the condescending reply. It was a genuine question. I clearly know that we will have to read the contracts. This was a more general query on what steps follow our solicitor receiving the contracts.

He's not being condescending he's offering advice many people don't read them and just sign.

Coffeegal32

To be honest it did come across as condescending, perhaps a comment such as yours with a bit more explanation would have been more helpful @Rew.

Coffeegal32

Cash_Q wrote: »

P.s. it can be at this stage that you discover the true position of the vendor, e.g. they're either ready for the sale to proceed asap or they're in a chain (which of course is common and not to be feared) or are waiting on a house to be built in ten months...hence the need to be sure you're happy with the closing date.

In our case we were to sign in January with closing date to be March; when we arrived at solicitors office we were told that the vendors solicitor had just been in touch and the people renting the house had challenged their notice and would be there until August. Our solicitor advised us not to sign and to think about it first, but we knew the house was the one we wanted and thankfully were not in a hurry to move. March rolled around and the tenant suddenly left, leaving us free to close. Living here 5 weeks now

The house is currently empty and we're fairly certain they want the sale to proceed quickly, as they are selling due to a break-up!

Oh that's brilliant! I'm delighted it all worked out for you and that you got into your house sooner than expected!

Cash_Q

Coffeegal32 wrote:

The house is currently empty and we're fairly certain they want the sale to proceed quickly, as they are selling due to a break-up!

Ah that's great then, hopefully won't be long until the solicitor gets you in to sign. Best of luck!