- Once contract papers are received, the title to the property is checked.
- Enquiries are raised with the Developers solicitors e.g. confirmation that restrictions on the title (preventing a sale) will be removed, the status of road and drainage adoption, confirmation that planning permission obligations and bulding regulation approvals have been complied with etc.
- In the Contract Report to the client we will highlight any restrictive covenants that have been written into the lease or registered against the freehold title. These could prohibit any alterations to the property (such as building an extension or attaching a satellite dish to an exterior wall) without prior written permission from the Developer.
- We will explain to the client whether the property is leasehold or freehold, and set out details of the lease, how any common areas are being managed, likely management fees and so on and whether there is an estate rent charge or rent charge provision.
- The Contract, Transfer and Stamp Duty Land Tax return forms are sent to the client for execution along with their plot report and supporting site documents.
- If more than two clients are purchasing, an information form is sent to them to ask whether they wish to hold the property as joint tenants or tenants in common.