frequently asked questions

Because buying and selling property is a legal, as well as financial transaction, there are a number of different parts to the process. If one or more of the buyers is taking a mortgage then appropriate applications must be made, and solicitors must arrange the legal transfer of ownership. For these reasons, the average sale and purchase will take around 10 weeks, but it could be longer if there is a chain of transactions involved. Fortunately, Embleys provides you with your personal 'Sales Progressor' to speed up the transaction.

The sooner you can ask for a FREE valuation, the better. It will help you decide how much you can spend on your new home, and if you need to move by a certain date, (e.g. for schools or a job) then the longer time you allow, the greater the chances of success.

Stamp Duty is a government tax which is payable only by the Buyer once the purchase is complete. Your solicitor will deal with this tax on your behalf.

A: Before you can put your property on the market it is a legal requirement that you have an energy assessment certificate or EPC. The purpose of the certificate is to record how energy-efficient a property is, likely energy costs and how to improve the energy efficiency of your home. It is not possible to fail an energy rating inspection since the EPC only provides simple information to your buyer which they can choose to act on.

The certificate will provide a rating of the property from A to G, where A is very efficient and G is very inefficient.
Two ratings are shown. The energy-efficiency rating is a measure of a home's overall efficiency. The rating is based on the performance of the building itself and its services (such as heating and lighting).

The certificate also shows the potential rating of the building, if all the cost-effective measures were installed. The ratings will vary according to the age, location, size and condition of the building. The potential rating on the certificate will take these factors into account, and the suggested measures are tailored so that they are realistic for the particular building.

Exchange of contracts takes place when the contract signed by the seller is "exchanged" for an identical contract signed by the buyer. It contains all the essential terms of the transaction - the details of the property, the buyer and seller, the price and the completion date.
 

The contract can be physically exchanged although nowadays nearly all " exchanges" are by telephone.
At the time of exchange a deposit of up to 10% of the purchase price is paid to the seller's solicitor. Once contracts have been exchanged there is a legally binding agreement between you and your seller. Up to this point you or your seller can pull out but after there is no going back.
 

On the completion date, the balance of the purchase monies is paid, ownership of the property transferred and the physical move takes place.