Matters that you, the client, will need to look after include:
- If you are buying a new home, dealing with the builder on property details, extras, and arranging for a qualified surveyor / architect / engineer to do periodic inspections and the snag list.
- If you are buying a second-hand home, having a structural survey carried out by a qualified surveyor / architect / engineer before signing any contracts.
- Dealing directly with your bank on
non-title matters, including:
- Loan application / negotiation, getting loan approval in writing (which should be obtained before signing contracts).
- Establishing your identity for the purpose of opening a loan account (under anti-money laundering legislation).
- Property insurance, what value to insure for, what interests should be noted on the policy, how much it will cost.
- Life assurance / mortgage protection insurance, what it covers, how much it will cost.
- Direct debit mandate.
Note that your loan cheque will not issue or could be delayed until you have satisfied your bank on these non-title items
- Getting balance of money to close (other than the loan cheque).
- Getting money to pay legal fees and outlays on closing.
- Pre-closing inspection of the property.
- Arranging to have utilities transferred into your name when you complete the purchase.
Before seeing your solicitor:
- Do not pay a deposit.
- Do not sign anything for anybody.
- Do not order work, furnishings or appliances until the purchase is completed.