Steps in a Transaction

Conveyancing is the process by which the legal ownership of property is transferred from one owner to another. The conveyancing process, if properly carried out, ensures that the buyer actually owns all the property, land and rights that have been paid for.

To help you understand the procedures involved in buying or selling a property, this page guides you through the process step by step. If there are any words / phrases you don't understand, click the jargon buster button at the top of the screen for a definition.

BUYING

• We will advise you on the information contained in any Home Information Pack.
• First, we obtain the Contract Papers from the Sellers Solicitors. These should include Property Information Forms and evidence of the seller's ownership
• We raise questions not dealt with on the Property Information Forms or issues you have asked us to investigate. We check legal ownership and the rights and obligations that go with the property. At this stage you should arrange a survey of the property and your lender will arrange a valuation
• We make Local Authority, Water Authority, Environmental and other searches as necessary unless these have been included in a Home Information Pack
• If you are getting a mortgage, by now you should have received your mortgage offer. Usually the lender will ask us to work for them as well to safeguard the money they are lending. They may have further requirements that we need to check before exchange of contracts
• We may need to negotiate the amount of the Deposit payable and finalise the wording of the Contract
• Assuming the replies to all enquires, and the results of all searches, have been received we advise you fully on the Contract, the legal aspects of the purchase, any conditions on your Mortgage and the terms of any earlier Deeds
• Exchange of Contracts. This is often done by telephone. The deposit is paid to the seller's solicitors; the completion date is fixed. Now you can confirm your removal arrangements
• We prepare the Transfer and mortgage and get you to sign these. We arrange for the money to be released by the lender. You pay us any additional money due
• On Completion, we pay the remainder of the purchase money to the seller's solicitors and get the keys released. You can move in
• We file your Stamp Duty Land Tax Return and pay any Tax on the transaction and Register your Title at the Land Registry
• If you are having a Mortgage, we send the evidence of ownership to the Lender as security while the loan exists but otherwise we will look after relevant documents for you without charge
  

SELLING

• Even before you have negotiated a sale, we should obtain the Title Deeds and get you to complete Property Information Forms and Fixtures, Fittings and Contents Forms. We will then prepare a full information pack and, where appropriate, commission a Home Information Pack
• Once the sale is negotiated things can really move
• We prepare the Contract and supporting papers and send these to the Buyer's solicitors
• We may have to deal with additional enquiries raised by the Buyers. We may need your help with these
• We have to satisfy the Buyers solicitors that you really own the property
• When the wording of the contract is agreed, you can sign. Now we are ready to exchange contracts but we may have to wait until others in the chain (if there is one) are also ready
• When everyone is ready we exchange contracts; the buyer pays a deposit and you can confirm your removal arrangements
• There will be further documents for you to sign transferring ownership to the buyer
• On completion, we receive the balance of money and deal with the repayment of your Mortgage and payment of your Estate Agents fees. You have to move out
• We send you any balance of money due and send the Title Deeds to the Buyers solicitors