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Report of Title
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jodied73
Posts: 10 Forumite
Hello, as a new buyer, I'm all a bit lost with all the terminology of house buying jargon! My solicitor has said she is now preparing the ROT - Report of Title - please could someone advise....does this mean we are getting close to exchange? The value and search is done, the mortgage is ready. Solicitor has gone back to the sellers solicitor with questions (no idea what!)
Any ideas, gratefully received TIA
Any ideas, gratefully received TIA
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So the Report *on* Title is basically the solicitor's full legal report on the property. It should include the answers to simple queries, but there may be some sticking points/larger issues that have arisen that are highlighted in the report for you and/or the lender to take a view on.
But in essence, yes, you will be closer to exchange, although there are still steps to go in terms of documents to be signed, dates to be agreed etc.
If you want to know what questions your solicitor has asked theirs, you can ask and they should tell you.1
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