Conveyancing Solicitors Process Solicitors.co.uk

Conveyancing - What Is Conveyancing?

The legal transfer of property from one owner to another.

Conveyancing ensures that the purchaser actually owns all the property, land and rights that have been paid for.

If you are selling your house

This should be relatively straightforward.

The process will normally include:

Completing a Property Information Form this will include a list of the Fixtures, Fittings and Contents included in the sale.

Sending out a draft contract package to the buyer's solicitor, providing them with full details of the property.

Obtaining the property deeds.

Agreeing a date to complete the purchase

The Exchanging contracts

Repaying any mortgage, paying the estate agents, and sending you the rest of the proceeds (or putting them towards the purchase of your new home).

Buying your new House

The conveyancing on a purchase is more complicated because the solicitor must ensure that the house you buy does not involve you in any unforeseen disputes or other legal entanglements.

A search will be made on the local authority's records to ascertain whether there are likely to be any public works affecting the property, you may not want a motorway schemes in your back garden this will also establish any planning restrictions. The information provided by the local authority relates only to the house being purchased. Searches are also conducted to ensure you are aware of all possibilities for instance flooding!

The seller's solicitor will provide information about the property which must be checked and any necessary enquiries.

The next steps

• A surveyor's report on the property. You may choose to have a more comprehensive survey undertaken such as a full structural survey
• If the purchase is being funded by a mortgage, the lender will write to confirm the amount of the advance agreed and send a pack for completion by the solicitor which may be a separate charge
• Exchange of contracts. After the agreed deposit (often 10%) has been paid by you, the contract papers for the purchase of the house are exchanged between the solicitors. Once exchange of contracts has taken place, the sale is legally binding, and a date for the completion of the purchase is agreed.
• The buyer's solicitor will be sent the monies from the bank or building society if you have a mortgage.
• Completion. The purchase price is paid over and ownership of the house transferred to you;
• Post-completion work - Any stamp duty arising on the purchase must be paid and the title to the property must be registered at the Land Registry. The property deeds are sent to the mortgage lender.

The process of buying or selling a flat is similar, though there is a great deal more work involved in checking the lease complies with the current lenders' requirements and the details of the maintenance and insurance of the building, you will often find that the fees for a leasehold property are higher than those of a freehold.

Solicitors.co.uk recommends that you email the details of your circumstances, using the email form next to your chosen solicitor, to receive advice on your particular situation.