Guide to Conveyancing
We know you want to get moving quickly, which is why we advise our clients on the importance of getting “Legally Prepared”.
Conveyancing is one of those words that’s sort of hard to spell, seems quite important, and one you might not have come across until you started house hunting. Basically, a conveyancer is the term for the solicitor who sorts out the legal side of your house move.
So often in a property transaction, the hard work begins once you find a buyer or a property to buy. Andrews Homemover gives you a head start by instructing a solicitor earlier in the moving process, so time can be saved once you agree your sale or purchase. Having all the necessary legal documents in place before you agree a sale or make an offer removes many of the unwanted delays involved when waiting to instruct a solicitor once your sale or purchase is secured.
Service benefits at a glance
- Fixed Legal Fee - Helps you budget as you will know exactly what you are paying
- No-Move, No Legal Fee - You are protected financially should something go wrong
- Dedicated team ready to help - Allows your file to be prioritized due to dedicated “Andrews” case handlers at our panel of solicitors
- Legally Prepared - Putting you in the best position by carrying out all the legal work earlier in the moving process in order to save time once you find a buyer or property to purchase
- Advice provided in Plain English - Helping you through the process without confusing jargon
To understand the benefits of the Andrews Homemover service further and to gain a breakdown of the cost involved, please call the Andrews Property Centre on 0845 9011343.
Once a sale is agreed then it is in the hands of your solicitor/licensed conveyancer to undertake the following steps. As a buyer, it is important that you discuss the availability of your deposit with your solicitor early on to help the overall process of exchange run smoothly. But whether you’re a buyer, a seller, or both, keeping in touch with your conveyancer throughout the process will keep both parties well informed on any timescales or setbacks.
So, now we’ve sorted out what a conveyancer actually is, this guide will be a snapshot to what a conveyancer does. To find out in more detail about solicitors in your area, speak to your local branch, and we would recommend you instruct a solicitor sooner rather than later!
Seller(s) solicitor steps
Your solicitor/conveyancer will become an important part of the process as soon as you have found an interested buyer.
- They will first need to obtain copy of the Title Deeds, or office copies if the title is registered. Title Deeds are the paper documents that show the chain of ownership for land and property, office copies are the scanned versions of these documents.
- You (the seller) will need to fill in a property information form as well as a fixtures, fittings and content form and return to the solicitor completed.
- An ‘Information Pack’ − a pack including copies of the above documents and a draft contract − will then be sent to the buyer.
- Your solicitor will obtain redemption figures from your mortgage lender if applicable, and reply to requisitions on title. Requisitions on title sounds very technical, but it just refers to the list of questions that the buyer’s solicitor has asked based on the Title Deeds supplied to them in the sellers pack. e.g. specific questions about fixtures and fittings. Your solicitor will answer these and obtain any necessary copies of planning consents etc.
- Once all questions have been answered on both sides, the contract will be agreed and arrangements will be made for the seller to sign, in readiness for exchange. Your solicitor will approve the transfer of ownership and arrange for the seller(s) & buyer(s) to sign the contract.
- Once the date for completion is agreed, contracts are exchanged. This is the stage at which the sale is finalised and buyers can no longer back out.
- Receive agents fee account and seek your (the seller’s) consent to settle out of completion funds.
- Receive completion funds and then instruct your agent to release keys to buyers. They will also redeem the mortgage, forward the financial statement, forward any surplus funds and ensure all outstanding bills are paid.
- The transfer documents, the deeds and the evidence of discharge of mortgage are forwarded to the buyer(s) solicitors.
- Your solicitor with then inform Land Registry of the change in ownership.
Buyer(s) solicitor’s steps
- Obtain the sellers pack (if applicable) from the sellers solicitor and raise additional enquiries. When your solicitor receives this, they will look closely at the Title Deeds and draw up a list of additional queries relating to this.
- Initiate any specialist searches. These are not often explained, but these are simply enquires submitted to numerous authorities seeking more information about the property, e.g. a coal mine search, which investigates whether the property is built over a mine and will therefore have a risk of mineshafts. If you are buying without a mortgage, you do not legally require a search but it is recommended.
- Approve contract when all enquiries raised are satisfactory and complete.
- Receive mortgage offer and instructions from lender and deal with any conditions.
- Ensure life cover and buildings insurance is arranged. This is often a requirement of the mortgage.
- Request deposit, report to buyer and arrange for contract to be signed. Place buildings insurance and life cover in force.
- All parties agree completion dates and contracts are exchanged.
- Raise requisitions on Title Deeds and prepare the draft of the transfer deed, which transfers the property from it’s current legal owner over to you, the purchaser.
- Report on Title to mortgage lender and obtain funds for completion, including stamp duty (if appropriate).
- Prepare accounts, obtain signature to mortgage deed and undertake final land registry and land charges searches.
Fees are settled and you get to move in to your new home!
- Forward balance of funds to the seller(s) solicitors. Only then can they authorise release of the keys. Receive the transfer documents deeds from the seller(s) solicitor.
- Stamp Transfer Deed, register buyer(s) ownership with Land Registry and forward Title Deeds to lender (where appropriate).
- Following the transfer of funds, the date the ownership of the property passes from the seller to the buyer.
Andrews can recommend trusted solicitors, who work on a no move, no legal fee basis. The conveyancing services we suggest work on a fee for the job, not a fee for the time so you can be sure your move is in trustworthy hands. Got your attention? Find your local Andrews branch who will be able to recommend a trusted solicitor to help you with your move.