The Conveyancing Process

conveyancing-explained

Selling your Property

Before property goes on the market

Before a property can be put on the market you will need an EPC (Energy Performance Certificate). These can be provided for you by your conveyancing specialist.

When you instruct your solicitor or conveyancing agent, you should also request all the relevant forms and fixtures. This will save time later in the conveyancing process, you should complete property information documents provided to the best of your knowledge to avoid complications later in the process

Offer

This is when your conveyancer will contact the buyer’s conveyancer with a contract package, usually by Email or by post. Any queries the buyer or their conveyancer may have will be investigated by your own conveyancer and responded to accordingly on your behalf.
You will need to sign the contract, as the seller, and complete the offer transfer ready for the exchange or contract.

Exchange of contract

At this stage both parties ensure that they are happy with the transfer documents and particulars before continuing with the conveying process. Both copy contracts, as agreed on and signed by their respective parties, are exchanged at this point. The length of time this stage of the Conveyancing process will take is agreed between both parties.

Completion

This stage is when you hand in your property keys to the estate agent, while your conveyancer oversees the exchange of finances between buyer and seller and ensures all matters are completed correctly.

Buying a property

Before making an offer

Be sure to speak to your mortgage advisor to secure a mortgage agreement in principle. You will also need to be well aware of your monthly budget (What you can afford to pay per month) and how much money can be borrowed for buying a property. This will all greatly speed up the conveyancing process and increase your eligibility to a seller as a buyer.

Offer

Essentially the same process as described above for when selling a property: a Contact package is received; your Conveyancer will carry out property searches (if deemed necessary) and submit queries on your behalf. A full property report will also be handed to you, as the buyer, to ensure everything is in order as advertised. Any further enquiries being dealt with directly with the conveyancer of the seller.
At this stage it is usual to have a structural survey completed for the property being purchased to ensure that you are not buying a property with issues that can affect its value, if there are defects this can normally be negotiated in the price of the property to cover the cost of any remedial work.

Once satisfied, you must sign the offer contract in readiness for the exchange.

Exchange

For the buyer the exchange stage of the conveyancing process means ensuring you have building insurance for the property and that the mortgage application process is complete.

Completion

The balance price of the purchase is passed on to seller’s conveyancer and your ownership of the property is registered. You will be notified by your Conveyancer once the process is complete.

We are very proud of our busy and growing conveyancing department. If you are looking at buying or selling your home please contact us today for more information.

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