What remains to be done?
In this section of the Cameron Stephen Guide to First Time Buyers, we explain what we do and what happens once you have completed the purchase of your new home.
We send off the documents and applications to Registers of Scotland to register you as the new owner and, if you have a mortgage, to register the Lender’s Standard Security for the mortgage.
The registration process takes around 2 months to complete but longer if the title needs to be registered in the Land Register of Scotland for the first time.
Once Registers of Scotland complete the registration process, they issue your title (the Title Sheet) and we shall send you a copy of your title.
Make sure everything is working properly – Post Settlement Claims against the Seller
The Seller will usually be obliged to leave the systems and appliances in the property (ie central heating, water, drainage, electric and gas) in working order commensurate with age. But you have only 5 working days from the Date of Entry to intimate any potential claim against the Seller if any of the systems or appliances are not working properly.
It is important therefore that you check everything is working particularly the heating and water heating systems and let us know as soon as possible if anything is not working so that we can intimate any potential claim within that strict time limit. Hopefully, everything will be fine, but if not, we shall let you know what we need to do next.
Minimum Limit of Claim
It is important to remember that for a post-settlement claim against the Seller to be valid then the cost of the repair or repairs needs to exceed the minimum limit for claims which is currently £400 (as at Nov 2019).
So, although it is worth intimating a potential claim against the seller, one of the first steps is to determine if the cost of the repair or repairs is going to exceed that minimum limit. If it doesn’t, then unfortunately, you will need to pay for the repair yourself.
Although we mentioned above that kitchen appliances are also included in the Seller’s obligation, it is usual for the Seller to remove kitchen appliances from the obligation and this is not unreasonable.
Kitchen appliances are essentially second hand when purchased by you and so have only a second hand value attributed to them. The cost of repairing a kitchen appliance is in most instances more expensive than replacing the appliance and so for that reason, the Seller will usually want to exclude appliances from the undertaking.