Buying or selling a home can feel like a complicated process, especially with all the legal steps involved. This is where conveyancing comes in.
Conveyancing is the legal transfer of property ownership from one person to another. Whether you're a first-time buyer or selling a property, understanding the conveyancing process can help you feel more in control and prepared for what lies ahead.
This blog will guide you through the main stages involved in both buying and selling a property.
Conveyancing is the legal work required to transfer ownership of a property from one person (the seller) to another (the buyer).
It ensures that the property is legally transferred without any issues, such as disputes over boundaries or unpaid mortgages.
The process involves many checks, searches, and paperwork, and is handled by a professional known as a conveyancer or property solicitor.
If you’re selling a property, here’s what the conveyancing process typically looks like:
Instructing a Conveyancer
You’ll need to appoint a conveyancer to act on your behalf. They will confirm their terms of business and fixed fees in writing.
Initial Checks and Forms
Your conveyancer will carry out proof of identity checks and send you forms to complete, including the fittings and contents form and property information forms. If your property is leasehold, additional forms may be required.
Preparing Documents
The conveyancer will obtain your title deeds (or official copies from the Land Registry) and any mortgage information. They’ll then prepare a draft contract and send this, along with supporting documents, to the buyer’s conveyancer.
Answering Enquiries
The buyer’s conveyancer will review the draft contract and raise any pre-contract enquiries. You and your conveyancer will respond to these questions before the next steps.
If you’re buying a property, the process is slightly different but follows these general stages:
Making an Offer and Instructing a Conveyancer
Once your offer has been accepted, you’ll need to instruct a conveyancer to handle the legal work. They will confirm their terms and fees in writing.
Survey and Mortgage Application
You’ll arrange a survey of the property to ensure it’s in good condition, and if you need a mortgage, you’ll apply for one at this stage.
Reviewing the Contract Pack
Your conveyancer will contact the seller’s conveyancer to obtain the contract pack, which includes the draft contract, property information forms, and any title documents. They’ll then raise pre-contract enquiries and conduct necessary searches (such as local authority or environmental searches).
Reviewing and Reporting
Once your conveyancer has all the details from the contract pack, search results, and mortgage offer, they will report back to you, outlining everything you need to know about the property and transaction. At this stage, you can ask any questions before moving forward.
Once the initial steps are complete, both the buyer and seller’s conveyancers will work together to address any final details before contracts can be exchanged.
For the seller, this means:
The buyer’s conveyancer will ask questions about the property to clarify any issues or concerns, such as disputes, alterations to the property, or local plans.
For the buyer, this stage includes:
Your conveyancer will provide results from local authority, environmental, and other searches. These searches check for things like planning permissions, flood risks, and whether the property is connected to public utilities.
If you're taking out a mortgage, your lender will formally offer the loan, and your conveyancer will review the terms.
Once all questions are answered and both sides are satisfied with the conditions, the buyer pays the deposit to their conveyancer, ready for exchange.
The exchange of contracts is a major milestone in the conveyancing process. It’s the point where both the buyer and the seller are legally committed to the sale.
Here’s what happens during this stage:
Both parties agree on a completion date – the day when the property officially changes hands.
Both the buyer and seller sign their contracts, and the conveyancers exchange them. From this point, neither party can back out without facing significant financial penalties.
At this stage, the buyer’s deposit (usually 10% of the purchase price) is paid to the seller’s conveyancer.
Completion is the day the property officially becomes yours. On this day:
The buyer’s conveyancer transfers the remaining purchase funds to the seller’s conveyancer.
The seller must leave the property by the agreed time and hand over the keys, usually through the estate agent.
The seller’s conveyancer sends the title deeds and signed transfer deed to the buyer’s conveyancer, along with an undertaking to discharge any existing mortgage.
Once the funds are received, the keys are handed over to the buyer, and the sale is complete.
Even after you’ve moved into your new home, there are still a few things that need to be done to finalise the conveyancing process:
Stamp Duty Payment
The buyer’s conveyancer will pay any Stamp Duty owed to HMRC on the buyer’s behalf.
Registration with the Land Registry
The buyer’s conveyancer registers the property in the buyer’s name at the Land Registry. This confirms that you are the legal owner.
Transfer of Documents
The buyer receives the updated title deeds and proof of ownership. Any documents required by the mortgage lender will be sent to them as well.
At this point, the conveyancing process is officially complete, and the buyer is the legal owner of the property.
The time it takes to complete the conveyancing process varies depending on the complexity of the sale, but on average, it takes between 8 to 12 weeks from the point an offer is accepted.
However, it can take longer if there are issues with property searches, delays in the mortgage offer, or if there is a long chain of buyers and sellers.
While most transactions go smoothly, there are a few things that can delay or complicate the process:
Issues with Property Searches
Unexpected results in local authority or environmental searches can cause delays.
Problems in the Chain
If you’re in a chain, a delay with one party (like someone’s mortgage falling through) can hold up the whole process.
Survey Issues
If the property survey reveals significant problems, the buyer might want to renegotiate the price, causing delays.
A good conveyancer will keep you informed at every stage and help resolve these issues as quickly as possible.
To make the conveyancing process as smooth as possible, here are a few helpful tips:
Choose an Experienced Conveyancer: An experienced conveyancer will handle the process efficiently and keep things moving.
Be Organised and Responsive: Respond to requests from your conveyancer promptly and provide any documents they need as quickly as possible.
Be Clear on Timings: Have a realistic timeline and keep communication open between all parties involved, especially if you’re part of a chain.
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