Usually 1–4 weeks after exchange, the remaining money is transferred. You pick up the keys from the estate agent and officially become the homeowner. Pro Tip: Government Schemes
In the UK, Freehold means you own the building and the land. Leasehold means you own the right to live there for a set term (often 99 or 999 years) but pay ground rent or service charges to a freeholder. buy house uk
Note: In England and Wales, the deal isn't legally binding until the exchange of contracts. In Scotland, the process (missives) becomes binding much earlier. 4. Legal and Technical Due Diligence Usually 1–4 weeks after exchange, the remaining money
You and the seller sign the contracts, and your deposit is transferred. At this point, pulling out results in heavy financial penalties. Leasehold means you own the right to live
While your bank does a basic valuation, it’s wise to pay for an independent RICS survey to check for structural issues like subsidence or Japanese Knotweed. 5. Exchange and Completion This is the home stretch:
