Conveyancing is the legal process of buying or selling a home, which usually takes around six to eight weeks. However, this time scale can depend on the type of property, any special considerations that have to be dealt with and the quality of the conveyancing service you use.
It is hard to predict exactly how long conveyancing may take as there are a number of issues that may arise during the conveyancing process that could delay the sale. But a good conveyancing solicitor should keep the whole process running smoothly and ensure it is completed in a timely manner.
There are five stages in the conveyancing process
- Drafting and reviewing the contract pack – once an offer has been accepted the seller’s solicitors will produce a contract pack which contains all the information the buyer needs to know about the property and a draft of the contract of sale.
- Pre-contract enquiries – The buyer’s conveyancing solicitor will review the contract pack and raise any queries with the seller’s solicitor. Delays may occur at this stage depending on how quickly queries can be resolved
- Property checks and searches – the buyer’s solicitor will carry out the following- local council searches, Environmental Agency checks, local planning searches and even money laundering checks. Most of these checks are relatively straightforward but can take longer if any problems are identified that need to be addressed.
- Exchange of contracts – Once both buyer and seller and their respective solicitors are happy with the final version of the contract of sale, the contract is signed by both parties and exchanged. The sale is now legally binding.
- Completion date – a date agreed by both parties is set for completion. On this date the buyer will take possession of the property. Between the exchange of contracts and completion day, the buyer’s solicitor will arrange for the transfer of funds for the outstanding balance and sort out transfer of the title deeds with the Land Registry.
At Peter Robinson & Co. we have a highly qualified and experienced team of professional conveyancers that are able to advise you on all types of conveyancing. Our aim is to make the process as straightforward and cost effective as possible, guiding you through the transaction every step of the way. Get in touch today.