Keys, Cash, and Congratulations!

The exchange and completion process can as Ellie Opie, Trainee Solicitor with MJP Conveyancing (MJP) explains,  be overwhelming and confusing for first-time buyers, especially if you're not familiar with the terminologies and legal aspects. However, MJP understands this and offers guidance throughout the entire process to ensure that you have a stress-free experience.

The exchange of contracts is an essential part of the purchase process, as it legally binds both parties to the agreed terms of the sale. During this stage, the solicitors of both parties will check and agree on essential details such as the deposit amount, purchase price, completion date, the names of the buyer and seller, the property address, and any other agreements included in the contract.

Once both parties sign the contract, the solicitor will date it, and the transaction becomes legally binding for the buyer.

Completion, which is also known as the moving day, is the point when the full balance is paid to the seller's solicitor. Once they confirm receipt of the funds, MJP will call to confirm that completion has taken place. The estate agent should then be in touch to arrange key collection. It's an exciting day, and MJP is there to assist you through the process to ensure that everything goes smoothly.

After completion, MJP will register you as the legal owner of the property at the Land Registry, and we'll also handle any other additional requirements, such as serving notice with management companies or landlords if applicable. You'll also have access to all the useful documents you received during the transaction through your online client journal, where you can track the progress of your registration 24/7.

MJP aims to make the exchange and completion process easy and straightforward for first-time buyers. If you have any questions or concerns, don't hesitate to reach out to us, and we'll be happy to assist you at every step of the way.