The buying process is a relatively simple process:
1. Select property to be purchased.
2. Put a holding deposit of 1000 stg pounds down on the property and pay the legal costs which are usually in the region of 1000/1200 stg pounds.
3. Select lawyer to draw up contract( This can be the customers own independent choice or Henry Charles Estate Agents can provide a list of recommended/tried and tested lawyers)
4. The lawyer will draw up a contract usually within two days and the customer can either visit the lawyer at his/her offices or visit the offices of Henry Charles Estates; where a meeting room can be made available. The lawyer will then go through the contract, which is drawn up in English with the client. Any mistakes or alterations can be made at this stage.
5. If the client is happy with the contract; the contract is signed by the client and the builder/developer. The customer will then usually have 10/14 days to make the initial instalment or full payment in the case of a re-sale property.
6. You will be required to obtain from your local police force a statement of any criminal convictions. It is only serious criminal convictions that may hinder your purchase ( traffic/drink driving offences are not important for this process). You may use any member of your family or friends to put on the title deed, should there be a problem.
7. The contract will contain the payment schedule, if relevant.
8. The kocan/title deed will take approximately 18months/24 months to be received by the purchaser at this time(31/1/08). The government is however trying to speed up the process. The lack of your kocan/title deed does not prevent you from selling your property at any time.
