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AZUR REAL ESTATE & DEVELOPMENT

EXPLOITING A DIFFERENT WORLD OF POSSIBILITIES

Buying Property in the UK by foreigners

Since there is there are no restrictions on foreign ownership to own property in UK we welcome those people that are interested in property investment in UK. We can help you secure good property with high return on investment in UK.

Buying process in UK is quite simple and we will summaries the process below:

  • We will assist you in find that your suitable property, once we found it then you can now make an offer to the seller. The offer does not legally bind you to buy, except in Scotland where offers are binding legally means you can always pull out of sales process if you feel uncomfortable with it.
  • Once the offer is accepted you may wish to proceed to arrange for a survey. A survey is strongly advised for early detection of potential problems. Survey attracts some fees but there is no specific fees set for it means you can always negotiate.

Generally there are two kinds of survey:

  • Building survey
  • Homebuyer’s report
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  • The next step will be transfer of property (Conveyancing) You will need a solicitor or a licensed conveyor, if you need our help on this we can always provide you some information of good solicitors or licensed conveyors with good experience on buying property by foreigners in UK. The is no standard fees to pay for solicitors, you can always negotiate on this fees and clarify if this fees include VAT and/ or disbursement is included in the upfront quotation. Conveyancing proceeds through an exchange of notes between the seller’s solicitor and buyer solicitor. A “draft contract” will be drawn up by the seller’s solicitor containing the price, information about the seller’s deeds of title. Your solicitor will check this and negotiate with the seller’s solicitor. Searches, enquiries and surveys undertaken on your behalf will include a Local Authority Search, to check that the property is not in the way of any project; a search at the Land Registry to check security of title. Other enquiries will check on things like mineral rights, flooding, pollution, etc. This part of the conveyancing process will take a minimum of two weeks, but it not unusually takes two or three months
  • Then when buyer solicitor is satisfied with both seller and buyer can now sign the checking, final contract. This contract is now binding legally means the sales must goes through. And buyer needs to hand over the down payment of non-refundable of 10%
  • Finally, the transfer of tittle of the property to the buyer. Both parties will sign documentation for transfer and closing date will be agreed upon. Between the contract signing and completion date, proper arrangements with the Land Registry office are made: stamp duty and other fees connected with registering are paid. Payments are now completed and the deeds are handed over buyer. The deed will be handed over to the buyer and the property is now own by the new buyer.

What are you waiting for, contact us today to arrange you that your dream property in UK. And don’t delay your decision for too long. Buyers are already purchasing UK housing inventory at a lightening pace, and high-quality homes are becoming harder to source. The opportunity of a lifetime won’t last forever.








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