We understand the importance involved when choosing the right solicitor to oversee your home move. The legalities of the move is one of the most stressful and time consuming part of any property transaction and that is why we work with a national panel of solicitors to provide you with the best conveyancing service available. We will help you choose the most appropriate solicitor dependant upon your own requirements. These may be cost based, you may find parking facilities very important or it could be that online access is essential to you. We know and work closely with many practices and can therefore help you make the most suitable choice of solicitor.
To help you understand the legal process that occurs in a property transaction we have provided you with a step by step guide, as seen below:
- Sale of your property - Once your sale has been agreed, you should inform us of your conveyancing solicitor’s details so that we can send them the relevant paperwork.
- Getting started - Initially the solicitor will provide you with a formal instruction form and other documents which will enable them to gather all of the relevant details about you and your house. Once you confirm your interest in working with the solicitor, they will proceed with the transaction.
- Purchase of your property - The solicitor can also carry out all of the legal work involved in the purchase of your property. Initially, all you need to do is provide us and your mortgage broker with the solicitor’s details. Your selling agent's solicitor/conveyancer will then be able to contact your solicitor to confirm instructions.
- Searches on your purchase - Once your newly appointed solicitor has received the contract documentation from your sellers’ solicitor, they will be able to affect the necessary searches of the Local Authority, Water Authority and Environmental Agency.
- Mortgage details - Your lender will send you and your solicitor the mortgage offer. The solicitor is responsible for explaining the terms and conditions of your mortgage offer. The Contract documentation and Mortgage Deed will then be sent to you for approval and signature.
- Exchange of contracts - Exchange of contracts takes place between the two parties’ solicitors, usually by telephone. Following exchange, your signed contact is forwarded to the other party’s solicitor/conveyancer and they in turn will send their party’s signed contract to your solicitor. At this stage, you and your seller/buyer will be legally committed to the transaction.
COMPLETION OF YOUR MOVE
On the day of legal completion, your solicitor will:
- Arrange legal paperwork
- Discharge your mortgage and/or draw-down funds for your new mortgage
- Pay your fees as per the Terms of Agency Agreement you have signed
- Arrange the legal documentation to be signed for the transfer of the property at H M Land Registry and register your ownership
- Arrange your Stamp Duty payment, payable to the Inland Revenue
Prior to legal completion, your solicitor will require any monies due to them to be cleared funds in time for legal completion. They will deduct their fees and disbursement costs and stamp duty from the balance at legal completion. Finally, you will liaise with your agent for the release of the keys to the property.
HOW LONG WILL IT TAKE?
Conveyancing is one of the most time consuming aspects of any home move. If the property is empty and the buyer does not require a mortgage, a sale or purchase can be completed within a few days.
However, this is very unusual and it is more likely a mortgage will need to be approved and there will be a chain of transactions to contend with. If this is the case, then it usually takes 4-6 weeks to exchange contracts and then another 2-4 weeks between exchange of contracts and completion.
This makes the process a total of 6-10 from start to finish. We understand the pressured timescales involved in property transactions and we do all we can to progress the transaction as quickly as possible.