The conveyancing process involved in both buying a house and selling a house can be complex and very time-consuming. If you haven’t already, it is a good idea to familiarise yourself with the steps involved, so that you know what to expect to happen and when.
To make it easier to digest we have split the process involved in conveyancing into small handy steps, so hopefully after reading, everything should be crystal clear.
To begin the conveyancing process of buying a house we need to receive your initial instructions. We will then ask you to complete initial paperwork, provide us with your form of identity and request you and send us the funds for any searches you wish to have.
The draft contract will be completed by the seller’s solicitors and then sent to us. The contract will include; official copies (electronic deeds), property forms and duplicates of all relevant documents for that property.
The third step of the conveyancing process are carrying out searches that have been requested by you are carried out and the paperwork we have received from the seller’s solicitor is reviewed. In the event that we have any queries about the property or paperwork we get in contact with the seller’s solicitor and the solicitor may need to refer to the seller. This process can be quite lengthy depending on a number of enquiries we need to raise.
Once we have received replies to all enquiries and the results of the searches, a report can then be created on the property and sent to you along with your mortgage offer. The financial side of the transaction will also be set out by us, which provides you with a completion statement highlighting the total amount due from you.
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. At this stage in the conveyancing process, you will transfer the deposit, usually 10% of the purchase price, to us which enables us to be ready to exchange the contracts.
The transaction and completion date becomes legally binding on the exchange of contracts. The deposit will be sent to the seller’s solicitor and a request for your mortgage advance will be paid from your lender. Before completion, the balance of the funds due from you must be with us at least one working day beforehand.
Completion happens on the eagerly awaited ‘moving day’ and when the full purchase price is transferred to the Seller’s solicitor. The keys are left with the estate agent and once the seller’s solicitor has received the funds the keys are released to you!
Kick start the conveyancing process and arrange for a conveyancing quote from our conveyancing solicitors in Bulwell and Hucknall.
What is a Certificate of Compliance?
Overriding Interests and how they can impact on a purchaser of a residential property
Removing a deceased from the Title Deeds
What are major works and how will they impact a leaseholder?
Property: Shared Ownership with Parents
Selling a house with sitting tenants
Failure to complete on a Conveyancing transaction
SDLT: Multiple Dwellings Relief
Selling a house without a solicitor
Selling a house with subsidence?
Why have searches when purchasing a property?
What does “Exchange” mean?
Residential Conveyancing - Thank you for all your hard work pushing everything though for us. You are a gem and Sheltons are lucky to have you.
Sheltons Solicitors is a trading name of Edward Hands & Lewis Limited, a company registered in England & Wales with company number 07001422 having its registered office at City Gate House, 11 St Margaret’s Street, Leicester, LE1 3EA. The directors are Jason Hathaway, Leanne Hathaway, Andrew Robinson, Paul Stubbs and Emma Fuller. We use the word “Partner” to refer to the most senior individuals at Edward Hands & Lewis Limited and its use in connection with the business of Edward Hands & Lewis Limited should not be construed as an indication that any individual carries on business in Partnership with any other individual within the meaning of the Partnership Act 1980, or that they are personally liable to you or any other party for any acts or omissions. Individuals named as Partners owe no personal obligations to you in either contract or tort, nor does the title “Partner” mean that they have any authority to bind the firm. We are authorised and regulated by the Solicitors Regulation Authority and our registered practice number is 533589. Our VAT No. is 114080418.