We understand how important buying a property and moving home is and how it can be a stressful event for most people. Having a calm, experienced and focused solicitor can make all of the difference.
When you are buying a house, CONVEYANCING is very important. In here, you will find the things you need to know about the process of conveyancing for buyers.
What is CONVEYANCING?
Conveyancing is the process that involves legal transfer of home ownership from the seller of the house to the buyer. The process starts when buyer’s offer on a house has been accepted and ends when buyer receives the keys.
Who actually does the process for conveyancing?
It is possible to do the conveyancing by yourself as long as you are not taking out a mortgage, though it is a bit tedious and difficult. So it is better to have a solicitor or conveyancer help you with the conveyancing process.
Conveyancing can be a bit complex so it is good to be familiar with the process involved so you know what will happen and what to expect. We have indicated here all the process to make it easier to understand.
“We offer one of the best value conveyancing in the UK from regulated solicitors. We are a firm of solicitors and your case will be managed by highly experienced lawyers and not “case handlers”.”
STEP BY STEP PROCESS OF CONVEYANCING FOR BUYERS:
First step – INSTRUCTING a solicitor or conveyancer.
To begin with the process of conveyancing for buying a house we need buyer’s initial instructions. You will be requested to fill out the initial paper work (draft contract or terms of engagement), provide us with form of identity and request for funds for any searches you wish to have.
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2nd Step – Receiving of draft contract
We will contact the seller’s solicitor and confirm with them that you instructed and we will request a copy of the draft contract, title of the property, standard forms and any duplicates of all relevant documents of the property being sold. We will then examine the draft contract and supporting documents and raising enquiries with the seller’s solicitor.
3rd Step- Property Searches
As part of the process, we will carry out the legal searches requested by you to ensure that no other factors you should be aware of. The process could be quite lengthy depending on the number of enquiries we need to raise.
4th Step – Report and Mortgage
After all the searches and replies to the enquiries a report will be created on the property and will be sent to you along with the mortgage offer. You will need to get your mortgage in place, which includes ensuring you have the financing available for a mortgage deposit. We will receive a copy of the mortgage offer and go through the conditions.
5th Step – Signing of Contracts
Before signing the contract we need to make sure that all enquiries have been returned and are satisfactory. When you are happy with all the paperwork, we can then arrange for you to sign and a completion date is then decided amongst all parties involved in the transaction. You have to make arrangements to transfer the deposit to us, usually 10% of the purchase price, so that it is cleared in time for an exchange.
6th Step – Exchange of contracts
You and the seller will agree on a date and time to exchange contracts at any time on any given day. The deposit will be sent to the seller’s solicitor and a request for your mortgage advance will be paid from your lender. Once you have exchanged contracts you will be in a legally binding contract to buy the property with a fixed date for moving.
7th Step – Final Step for Conveyancing process on buying a house (COMPLETION)
We will send you a statement showing the final figure to pay, which will need to be cleared at least one day before completion. Completion happens when the full purchase price is transferred to the Seller’s solicitor. The seller should drop the keys at the estate agents for your collection. And you can now, MOVE IN!
We provide a high quality of service and have vastly experienced solicitors to deal with your transactions. We will work with your estate agent, financial advisor and mortgage lender to ensure that everything runs smoothly. We will also monitor the transaction closely and keep you informed of all important issues at every stage.
Please call us on 0207 183 0084 or email us on email@example.com for a fixed fee conveyancing quotation and to ask us about any reservations or queries that you may have; we are always happy to assist.
Our team of solicitors are based in London Bridge, Southwark (Bankside), London SE1, but we act for individuals all over the world.
Please contact us for a free, no obligation quote today. CLICK HERE. We will respond with a detailed written quote and to answer any questions that you may have. Find out about our Fixed Price Promise.