Conveyancing will probably take longer than you had anticipated so try and get the process under way ASAP, you don’t want to be the one who is holding things up. Though you will want things resolved it is important to be sure there are no loose ends, and you check all the work the solicitor (Sol) does very carefully.
Most lenders will be prepared to accept your choice of solicitor, as long as they are registered and recognised by one of the following two agencies.
The Law Society: 0870 606 2566
Or:
Licenced Conveyancers Association: 01245 349 599
A guide to the conveyance process.
- Terms are agreed between the seller and the buyer (usually via an estate agent) and the seller and the buyer instruct their Sol.
- The seller's Sol obtains the seller's title deed and prepares the draft Contract for the buyer's Sol to approve.
- The seller's Sol sends to the buyer's Sol the draft Contract together with the rest of the documentation that forms the contractual package.
- The buyer's Sol, amongst other things, checks the terms of the Contract, does the Searches and checks the results, checks the Mortgage Offer and checks the readiness of any dependent sale to proceed.
- Contracts are signed and exchanged at which time a Completion Date is fixed.
- The Transfer Deed/Document is prepared by the buyer's Sol and approved by the seller's Sol. It is then signed in readiness for the Completion Date.
- The buyer's Sol obtains the funds for the purchase from the buyer/the buyer's sale (if any) and the lender (if there is a Mortgage).
- On the Completion Date the funds are sent by the buyer's Sol to the seller's Sol and when received by the seller's Sol the purchase is completed.
- On the Completion Date the seller's Sol repays any Mortgage.
- The buyer's Sol pays any Stamp Duty and registers you, as the new owner of the property at the Land Registry.
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SOLICITORS PROCESS