The conveyancing process will typically involve various steps, including:
Instruct a solicitor – As soon as you decide to purchase or sell a home, a conveyancing solicitor needs to be contacted. They will carry out the next steps of the process.
Enquiries, searches, and checks – Once the solicitor has received the contract and copy of the legal title, they will then begin any necessary enquiries. Once enquiries are made, the conveyancer will initiate property searches and checks.
Securing your mortgage – Once searches and checks are done, the mortgage application can start. The mortgage lenders will request details that the conveyancing solicitor will provide. The solicitor will also act on behalf of the lender and pursue any further checks required.
Signing the contracts – Once the buyer and seller are satisfied and happy to move on with the transaction, the contracts will be signed.
Exchanging the contracts – Once both conveyancing solicitors are satisfied that everything is in place, a completion date will be set, and the contracts will be exchanged.
Completion – Before completion is finalised, any necessary final searches will be completed as well as funds submitted on completion day.
Stamp duty and transfer of ownership – Once completion is finalised, any required tax return will be submitted to HMRC, and the transfer of ownership will be submitted to HM Land Registry.