First Time Buyers FAQs
Find out the answers to your frequently asked questions
What is the Date of Entry when you buy a property?
As part of our FAQ section to help First Time Buyers, we answer the question:
“What is the Date of Entry when you buy are property?”
We are Cameron Stephen & Co solicitors in Edinburgh specialising in helping first time buyers.
What is the Date of Entry?
This is a question we are frequently asked by First Time Buyers.
And why not? It is a funny sort of phrase.
This is the rather old-fashioned (but still used by us solicitors) way of saying this is the day you complete the purchase of your new home. It is the day when the price is paid to the seller, you get the keys and can move in.
It is as simple as that, but often we are asked other related questions and so we hope the following will also be useful to you.
Why is the Date of Entry a Friday?
Traditionally, every one completes sales and purchases on a Friday to give themselves the weekend to move in.
But it doesn’t have to be a Friday. It can be any day of the week apart from weekends and bank and public holiday (because banks are closed then – as usually are solicitors).
Why is the Date of Entry 8 weeks after our offer has been accepted?
There is a lot of work involved in buying a property; not just the contract and conveyancing work but also you will need to organise your mortgage which in itself can take 3 to 4 weeks. Believe us, the time will fly by.
When do we get the keys and where do we get the keys from?
Even although it has taken 8 weeks to reach the Date of Entry, there is still work for us that day in order to complete your purchase.
Most times, we aim to complete everything by 12 noon and most sellers aim to complete their move-out by lunchtime.
Usually, you will be able to collect the keys from us but other arrangements can be made if that is more convenient for you, although it is unusual for you to collect the keys from the sellers in person.
Is there anything special I need to do on the Date of Entry?
If, like many First Time Buyers, you are coming from a rental property, then you will find things a little different and more informal.
You will not be accompanied to the property by an agent and there will be no schedule of condition to check and sign-off. It is simply you letting yourselves in.
We have a whole list of FAQs for first time buyers
About Cameron Stephen & Co
We are a firm of solicitors and estate agents based in the Leith area of Edinburgh.
We specialise in helping first time buyers in Edinburgh. So, if you would like to find out more, then below are a few links to get you started.
You can find out about:
- Our Special Fee for First Time Buyers
- Assistance in getting a mortgage and
- Finding out more about the process of buying a property
If we can help you, then either complete a form, send us an email or give us a call.
We look forward to hearing from you.
Tel: 0131 555 1234