THE CONVEYANCING PROCESS
Here we have put together a time plan of the milestones during both a sale and a purchase transaction.
Please note that these are only a guide and delays can happen due to complications during any transaction.
THE CONVEYANCING PROCESS
Here we have put together a time plan of the milestones during both a sale and a purchase transaction.
Please note that these are only a guide and delays can happen due to complications during any transaction.
TIMESCALE FOR SELLING
TIMESCALE FOR SELLING
Week 1
Instruct your solicitor / conveyancer, pay money on account and complete the property information forms.
Week 2
Your solicitor / conveyancer issues the contract and ownership information to the buyer’s solicitors.
Week 3 – 6
Your solicitor / conveyancer agrees the contract and will help you satisfy all enquiries from the buyer’s solicitors.
Week 7 – 8
Moving date agreed and contracts exchanged – This makes the sale binding.
Week 9 – 11
You now have a guaranteed moving date. You can make arrangements and start packing. You will need to sign completion documents with your solicitor / conveyancer. You will receive a statement showing the amount you will receive upon completion.
Week 12
Complete. Move out and handover keys, any mortgage is redeemed and you should renew or make a will.
TIMESCALE FOR BUYING
TIMESCALE FOR BUYING
Week 1 – 2
Instruct your solicitor / conveyancer, pay money on account and provide evidence of your cash funds. You should instruct your mortgage valuation and survey.
Week 3
Your solicitor / conveyancer will undertake searches of the local utilities and authorities. Your solicitor / conveyancer will receive a draft contract and ownership information from the seller’s solicitors.
Week 4 – 6
Your solicitor / conveyancer reviews and approves the contract. They will also review the ownership information and raise enquiries with the seller and receive satisfactory replies. Your solicitor / conveyancer receives results of all searches of the statutory authorities.
Week 7 – 8
Your solicitor / conveyancer sends reports on the property, contract and mortgage and obtain confirmation of how you will own the property. Your solicitor / conveyancer will send you documents to sign and require a 10% deposit to be paid.
Week 9 – 11
The moving date is agreed. All documents and the deposit are received from you. The contract is now exchanged – the purchase is now binding.
Week 12
You now have a guaranteed moving date. You can make arrangements and start packing. You will need to sign completion documents. You will receive, from your solicitor / conveyancer, a statement as to money required to complete. This must be transferred in good time for completion.
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
WHAT ARE CONVEYANCING SEARCHES?
1. Land Registry Checks– Your conveyancer will check that the vendor legally owns the property you are buying by checking the title deeds and title plan at the land registry.
2. Local Authority Searches – For these searches, your solicitor liaises with the local authority to the property, who conducts local area search. The searches are fairly wide-ranging and include things like investigating any conservation, development and pollution issues.
3. Environmental Search – This report provides information on any environmental factors that might affect the property which might include flood risk, land contamination, local landfill sites, issues with harmful gases and ground stability.
4. Water Authority Search– The water authority search establishes where the water for the property comes from and whether there are any public drains on the property.
5. Additional Searches – You may require additional searches that are required based on the location of your property and as such your solicitor / conveyancer will advise you on these
WHAT ARE CONVEYANCING SEARCHES?
1. Land Registry Checks– Your conveyancer will check that the vendor legally owns the property you are buying by checking the title deeds and title plan at the land registry.
2. Local Authority Searches – For these searches, your solicitor liaises with the local authority to the property, who conducts local area search. The searches are fairly wide-ranging and include things like investigating any conservation, development and pollution issues.
3. Environmental Search – This report provides information on any environmental factors that might affect the property which might include flood risk, land contamination, local landfill sites, issues with harmful gases and ground stability.
4. Water Authority Search– The water authority search establishes where the water for the property comes from and whether there are any public drains on the property.
5. Additional Searches – You may require additional searches that are required based on the location of your property and as such your solicitor / conveyancer will advise you on these
COMPARE CONEYANCING SOLICITOR QUOTES
You will receive instant quotes from up to 4 Licensed Conveyancers who can organise
the conveyancing for the buying and selling of your property.
You will receive instant quotes from up to 4 Licensed Conveyancers who can organise the conveyancing for the buying and / or selling of your property.
