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What is Conveyancing?

On October 12, 2017

What is Conveyancing?

Although most people understand that they will need a solicitor to help them with the sale or purchase of their home, very few fully understand what a conveyancer does for them.

Basically, a conveyancing solicitor is responsible for 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. The whole process takes about 8-12 weeks and begins as soon as 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.

As buying a house is probably the most stressful and long-winded purchase you will ever make, it is important to choose a conveyancer that you can trust and one that is dependable, so ask friends, neighbours or family members who have bought a property recently for recommendations.

What will a conveyancer do for me?

  • Liaise with the seller’s solicitor to draw up a contract 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.
  • Swap signed contracts and pay a deposit. 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.
  • Advise you of the cost of Stamp Duty.
  • Agree a completion date.
  • Prepare the completion statement and the transfer deeds for you to complete and sign to send to the seller’s solicitor.
  • Transfer full payment on completion of sale.
  • Send transfer deeds and applicable Stamp Duty to the Stamping Office.
  • 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 of professionals are specialists 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.

Entrust the purchase of your new home to Peter Robinson & Co.

Get in touch today for a no obligation quotation.

  • By Peter Robinson  0 Comments 
  • Advice, conveyancing, Peter Robinson & Co.