Conveyancing

What is conveyancing?

Conveyancing is specifically related to the transaction involved in buying or selling a home and transferring ownership of a property from one person to another.

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The two key phases of conveyancing are the Exchange phase and the Completion phase, and all the steps involved in this make for a thorough and at times lengthy process

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Do I need to use a Conveyancer?

The short answer is no, you do not need to use a professional to buy or sell property. However, it is highly recommended that you do use a professional as the process can be lengthy and complex – and can become more complex and lengthier should this process be instigated by someone who is not used to the process.

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Using a professional also ensures that your purchase or sale covers all bases. Conveyancing professionals know exactly what to look out for when reviewing home reports, surveys and the burdens listed in a property title sheet. To the untrained eye, it could result in you purchasing something you might not have if you had all the information.  

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If you have a property you would like to buy or sell, get in touch with us today and speak to one of our trusted Conveyancing team who will be more than happy to answer any questions you may have

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What is the conveyancing process?

The Conveyancing Process begins either accepting an offer, or having your offer accepted. Once this has happened, your Conveyancing professional can begin the transaction process.

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Step 1: A conveyancing professional will carry out ID checks on the parties involved as well as completing a title search on the property to make sure that the person selling the house has the authority to do so.

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Step 2: When purchasing, the conveyancer will initiate further searches on the property, including coal mining, environmental and drainage searches. During the selling process, the conveyancer will provide you with forms required for the transaction completion.

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Step 3: Your agent will work with the other party’s agent to make enquiries and resolve any issues which may have arisen when the searches have been completed. This can be a time-consuming process as both parties must reach agreement on anything which may arises.

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Step 4: If you are purchasing the property with a mortgage, the sellers’ agent will deal with any specific conditions which your mortgage lender requires to be met before they will issue a mortgage against the property.

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Step 5: Your conveyancing practitioner will work with yourself and the other party and their professional to arrange for dates of entry/completion.

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Step 6: The practitioner will arrange for financial statements to be created to know which funds are available for both parties and the transfer of funds. If there is any Stamp Duty to be paid, it will be paid at this stage.

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Step 7: The final step will be registering the disposition for the change of ownership with the Land Register.