property in uk

Buying property in UK can be summarized in 3 stages: the search and offer, conveyancing and the final touches.

United Kingdom luxury houses1. Find property in uk a suitable property and make an offer, usually through your real estate agent. The offer does not legally bind you to buy, except in Scotland where offers ARE binding (neither is the seller legally bound at this stage — ‘gazumping’ or withdrawing from an agreement to buy or sell before the final contract has been signed is very common, except in Scotland).

2. After your offer has been accepted you may wish to arrange for a survey. A survey is strongly advised for early detection of potential problems. Generally there are two kinds of survey:

a building survey, which will cost you roughly £500 (€369) to £1,000 (€739)
a homebuyer’s report, which will be cheaper at
about £300 (€222) to £500 (€369)

There are no set fees for surveys. Negotiate.

3. The legal transfer of the property (conveyancing) is the next stage. You will need a solicitor or a licensed conveyor for this. Again, there is no set fee scale so negotiate, and clarify whether VAT and/or disbursements is/are included in the upfront quotation.