Page 18 - February 2022

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EXPERT ADVICE ESPC Springwell-Torwood Advert Feb.qxp_Layout 1 31/01/2022 11:09 Page 1

You’ve had an offer accepted – but what
happens next? No1 GORGIE ROAD APARTMENTS DUPLEXES TOWNHOUSES LODGES FROM £317,000

Graham Taylor, Associate Solicitor at Thorntons, shares what
happens after your search comes to a successful end.

ongratulations – you’ve had an offer possession of the property if you cannot keep
accepted on a property. But what comes up with mortgage repayments.
Cnext?
Prior to completion, you will provide your
First, finances. If you require a mortgage, you’ll solicitor with the balance of the purchase
need to submit a full mortgage application to price and the legal costs. Your solicitor will also
your mortgage lender. request loan funds from your lender.

The seller’s solicitor will discuss the terms of On the date of entry, your solicitor will pay
your offer with the seller, and take instructions the purchase price to the seller’s solicitor, in
to issue a formal acceptance letter, which exchange for the signed disposition, keys and
confirms the agreed price, date of entry and any required documents.
requested amendments to the written offer.
This is called a ‘qualified acceptance’, and your And that’s it – you can now collect the keys for
solicitor will explain its terms to you. your new home!

Further letters may be exchanged, and once For more help and advice from Thorntons, visit
all parties are satisfied, you may instruct your thorntons-law.co.uk or call 03330 430150.
solicitor to issue a formal letter that creates
a binding contract – known as ‘concluded
missives’.

Your solicitor will examine ‘title deeds’ Springwell is a development of 48 houses and apartments, just 10 minutes’ walk from
documents, to ensure that the seller owns Haymarket Station. With great local amenities, it combines all the convenience of city
the property, that the property is described centre living with easy access to the surrounding countryside by car or bike.
accurately, that you are aware of the obligations
imposed on you (for example, paying for Only 17 homes remain, so call Behnam Afshar on 07967 322025
maintenance of a boundary wall), and that the to arrange a viewing or email behnama@amanewtown.co.uk
necessary rights are in place (such as rights of
access).

The seller will sign a deed, called a ‘disposition’,
to transfer the property to you. If you have
arranged a mortgage, you will sign a standard
security mortgage document which gives the
lender certain rights, including a right to take www.amahomes.co.uk/springwell-house

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