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Buying a new home is an exciting part of life, but it can also be quite confusing, especially when you look at the amount of documentation that flies around during the process. In this guide we will take a look at the most common documents that you will receive and review during the buying process and once it is complete.
During the process
During the process, the first documents you are likely to get are the property information form (TA6) and the fixtures and fittings form (TA10) which tells you exactly what is included in the sale. As part of this you will also receive the EPC certificate and, if the property is a leasehold, the management or leasehold information pack. These are the absolute basics and give you the required information for your conveyancer to start making enquiries. You are also likely to get a swathe of certification such as FENSA certification for new windows, Part P certificates for any electrical upgrades and planning permissions for extensions etc. If you are buying on an estate, for example, you might well also get a TP1 form which is a part transfer of a registered title. This is a very important document as it will detail exactly what you are buying and also any restrictive covenants in force on the property.
Your conveyancer will also send you all search reports with any guidance and advice on the results of the searches. The three main searches are the local authority search, the water and property search and the environmental search. There are others that can be done, which are optional such as a mining search, chancel repair search and commons registration. You will need to talk to your conveyancer about these searches, but each one will generate a report for you.
There will be a mortgage valuation report and if you employ a surveyor to carry out your own survey, there will be that survey report too.
As part of the conveyancing process, you conveyancer will also supply you with a copy of the contract to sign.
You should keep copies of all of these documents for future reference
At the end of the process
Once the purchase has gone through there are still quite a few documents that you will receive. For a new build property you will get a copy of the home warranty document, you will also get a copy of the stamp duty receipt, if applicable, you will get a copy of the lease if the property is leasehold and also get access to a copy of the title deeds. Typically, these days, this is digital so you won’t get a hard copy of the title deeds. Your conveyancer should give you formal confirmation that they have registered the property in your name. once this has happened, we would always recommend that a homeowner signs up to the free property alert service from the Land Registry. This monitors any activity on the land registry and alerts you to them. There have been some high-profile fraud cases where the title of a property has been fraudulently transferred and this service aims to help spot these fraudulent activities.
Buying a property can be bewildering, but it is important to keep copies of all the documents that you receive during the process.
