The Manx conveyancing process is similar in many ways to the English process, but with specific differences that matter to anyone buying a property on the Isle of Man for the first time. The process generally takes between eight and twelve weeks from offer accepted to completion, though some transactions move faster and some take longer.
Stage one: offer and instruction
Once an offer is accepted, you instruct an advocate. Your advocate will write to the seller's advocate, obtain the title documents and Manx Land Registry records, and begin the property searches.
Stage two: searches and enquiries
Local authority searches, drainage and water searches, planning enquiries, and any specific searches required by the nature of the property (for example, environmental searches on commercial property or older buildings). Your advocate will raise enquiries with the seller's advocate based on the title documents and the search results.
Stage three: contract and deposit
Once searches are complete and enquiries are satisfied, contracts are exchanged. A deposit (usually 10% of the purchase price) is paid to the seller's advocate. From the point of exchange, both parties are committed to the transaction.
Stage four: completion
On the agreed date, the balance of the purchase price is transferred, the keys are released, and the property is yours.
We work on a fixed-fee basis for residential conveyancing. The fixed fee is agreed at the start of the matter and covers the standard work involved in a typical transaction. We are clear in advance about what costs sit outside the fixed fee (search fees, registration fees, government duty).