If you look at the document that outlines your mortgage contract, you might notice something that stands out. Ninety-nine per cent of your offer will be in English, but if you look closely, you’ll see something from a dead language. It will state “Caveat emptor”. Whilst this may sound like something out of Jurassic Park or the name of a Roman Emperor, it is an established mortgage process phrase. It is one that the Conveyancing Cheltenham based company Montpellier Legal will be very aware of. They will even point it out to you if you choose them.
It means, Let the buyer beware. It is not meant to put you off purchasing the particular property you’re looking at. Instead, it is there to make you aware that buying a home is not the same as simply buying a new coat or even a car. A house is an investment, requiring the most profound commitment to protect and pay for it. It isn’t as if you can take it back and replace it if you’re not happy with it or you find it’s faulty. Once you have the keys and contracts exchanged, it’s your responsibility.
Therefore, you need to be reminded that a survey of the place and the use of a legal team to make sure the contracts are all ok is required. The last thing you want is to be saddled with something that is not worth what you are paying for.