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best one for you. There might be hidden extras, or you might not be assured of the level of service you should expect for such an important transaction.


“The cheapest quote may not be the ” To Buying Property In Jersey


process of buying a property in Jersey remains shrouded in secrecy for many. Here’s a brief guide to what goes on. Hopefully it will help to lift a least a little of the mystery.


I


1. Consideration, Stamp Duty and Fees


The first question we’re often asked is “How much will it cost?” You’ve had your offer accepted, but now you have to factor in all of the costs on top of the purchase price. Most lawyers will send you a draft completion statement at an early stage. This will include the price, legal fees, stamp duty (the amount of this often is the biggest surprise) and disbursements such as the cost of obtaining information from utility providers and the planning department. If you are borrowing there will be further stamp duty to pay, along with the bank’s lawyers’ legal fees, and possibly arrangement fees etc. from the bank itself.


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2. Searches and Enquiries Your lawyers will carry out enquiries with the local authorities and utility companies in respect of your new property and will advise you of their


2. Sear


5.Registration Cards It is unlawful to buy a property without having a valid registration card for each individual buyer. Your


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t’s the biggest transaction most of us will ever enter into, yet the


A Potted Guide


by BY PHILIP LIVINGSTONE, MANAGING DIRECTOR, LIVINGSTONES b BY PHILIP LIVINGSTONE MANAGING DIRECTOR LIVINGSTONES


findings. The cost of these letters to law firms is currently about £330 and you’ll probably have to pay this up front to your lawyers.


3. Survey


Usually a valuation survey will suffice (a bank will always require this) but there may be reasons why a full structural survey is advised. Delays in getting the survey organised is perhaps the second most common cause of delay in a conveyancing transaction. The first is…


4. Borrowing


It is imperative that you finalise your borrowing arrangements as soon as possible. Getting a loan agreement in principle is one thing, but until you have signed your bank’s facility letter and a survey has been carried out and produced a satisfactory result, the bank won’t usually instruct their lawyers to send the loan documents to your lawyers. These need to be reviewed with you, and until they are completed and satisfactory to the bank’s lawyers, the availability of your loan isn’t guaranteed.


lawyer will need to see and take certified copies of your card(s). If you don’t have cards they can be obtained from the Population Office at the Social Security Department, La Motte Street, St Helier. You will need to provide proof of identity and possibly other documents to obtain a card.


6. Title check and site visit. This is the part of the background work to the transaction which will be largely unseen by you. Your lawyers will look at the history of the property, going back at least 40 years and often a lot longer. They will look at what your property claims as its boundaries, and what neighbouring properties claim as theirs. They’ll check to see that you have any necessary rights of way, and what rights your property concedes to others. This research is carried out using Jersey’s public land registry system. Contracts of less than about 10 years old will be in English. Before that they’ll be in French, and going back in time will be handwritten. Sometimes they’re quite tough to decipher!


After this, your lawyers will visit at the site to ensure that what is set out in written form at the public registry


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