Simplified real estate buying procedure step by step
- Find the property.
- Negotiate the price and all transaction conditions.
- Instruct/give a Solicitor Power of Attorney to act on buyer’s behalf.
- Obtain all updated documents regarding the property and its owners.
- Carry out inspections and surveys, if it is the case.
- Sign the promissory contract and pay the deposit.
- Pay relevant property tax.
- Complete the sale by signing the transfer deed.
- Update the land registry on buyer’s name.
Conveyance as solicitor’s responsibility assumes a decisive role during the entire buying process in order to assure the buyer its successful outcome.
This means, in general, to do the following:
- Obtain all relevant and updated documentation.
- Give advice further to careful analysis of the documentation.
- Draw up all necessary documents.
- Obtain all relevant information from public entities concerning the property.
- Represent the buyer from A to a successful result.
Promissory agreement on purchase and sale basic contents
- Both parties ID.
- Real estate ID.
- Aim of the business.
- Deposit and sale’s price and payment form.
- Date or maximum delay to complete.
- Clear statement that the real estate shall be sold without any burden.
- Both parties rights and obligations.
- Specific clauses.
- Consequences and penalties in case of breach of contract.
- Place and time and signatures.
Buying additional costs
- Transaction municipal tax.
- Stamp duty tax.
- Costs of the deed.
- Land registry fees.
- Solicitor’s fee.