Title and due diligence
Title due diligence is the single most important step in a property transaction. A clean official search confirms ownership, encumbrances and any restrictions on the use or transfer of the property.
- Official search at the Lands Registry.
- Land rates and rent clearance certificates.
- Physical inspection and beacon verification.
- Review of any leases, charges or cautions.
The sale agreement
The sale agreement allocates risk between buyer and seller. Key terms include deposit, completion period, conditions precedent (consent to transfer, clearance certificates) and what happens if a party defaults.
Completion and transfer
Completion brings together stamp duty assessment and payment, transfer registration, and the release of the balance of the purchase price. Coordination between advocates, the Lands Registry and the parties' banks determines how quickly the property changes hands.
Post-completion matters
After completion, the buyer should obtain a certified copy of the new title, update land rates records and, where applicable, register any new charges. A short post-completion checklist prevents administrative gaps from becoming legal problems later.