Conveyancing is the term which covers all the legal and administrative work associated with transferring the ownership of land or buildings from one person to another to ensure a house purchase or sale is legally valid.
Conveyancing is carried out by a conveyancing solicitor or licensed conveyancer acting on your behalf.
The process of conveyancing begins once you have had an offer accepted on a property and is completed when the final contracts have been signed and the money has been transferred to complete the purchase.
Until contracts are exchanged the house sale is not legally binding for either the buyer or the seller, therefore a 10% deposit is paid to the buyer at the time contracts are exchanged. The remaining 90% is paid on completion of the sale.
Conveyancing takes from 8 -12 weeks
What will a conveyancer do for me?
- Liaise with the seller’s solicitor
- Draw up a contract
- Swap signed contracts
- Pay the deposit
- Agree a completion date
- Send signed transfer deeds
- Transfer full payment on completion of sale
- Carry out searches on the property through the Local Authority and utility companies
- Analyse the results of these searches and identify potential problems e.g. plans for a new road, risk of flooding etc.
- Liaise with your mortgage lender to obtain a copy of your offer and the transfer of funds at the correct time
- Advise you of the cost of Stamp Duty
- Send transfer deeds and applicable Stamp Duty to the Stamping Office
- Prepare the completion statement and the transfer deeds for you to complete and sign to send to seller’s solicitor
- Send documentation regarding proof of ownership to HM Land Registry
- Send title deeds from HM Land Registry to mortgage lender
At Peter Robinson & Co. we make things simple.
Our experienced team are qualified, professional and specialise in all aspects 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.