Guide to the Conveyancing Process
Up on your instruction, we will go through the following stages. Sometimes additional work will be needed - for example: if the property is lease hold or is yet to be registered with the land registry- and it’s worth noting that the stages won’t necessarily follow this order every time. It is also important for buyers to discuss the availability of deposit with us early in the transaction.
Selling a home
- Obtain a copy of the Title Deeds (or office copies if the title is registered)
- Obtain a copy of the Energy Performance Certificate (EPC)(if applicable)
- The seller(s) will return a completed Property Information Form and a Fixtures, Fittings and Contents Form to the solicitors
- Copies of the above documents, plus a draft contract — this is known as an ‘Information Pack’ — will be sent to the buyers solicitor
- Answer the buyer’s solicitor’s additional enquiries (for example, specific questions about fixtures and fittings) and obtain copies of any planning consent documents
- Agree the contract and arrange for the sellers to sign it in readiness of the exchange (below)
- All parties agree completion dates and the contracts are exchanged
Buying a home
- Obtain the Information Pack, including a copy of the EPC (if applicable) from the Sellers’s solicitor and raise any additional queries
- Initiate any specialist searches (for example: a coal search).
- Submit local, environmental and water searches and a chancel check. This takes about 3-4 weeks in total, and enquiries are then usually raised from the results
- Approve the contract when all enquiries are satisfactory and complete. (At this stage, a mortgage transfer deed will need to be signed and witnessed)
- Receive a mortgage offer and instructions from the lender and deal with any conditions set out by them. Make sure that life cover and buildings insurance is being arranged
- Request the deposit, report back to the buyer, and arrange for the contract to be signed. Place buildings insurance and life cover in force
Between exchange and completion
- Obtain redemption figures from the mortgage lender and reply to requisitions on title
- Approve the transfer and arrange for the seller(s) and buyer(s) to sign
- Receive the agent’s fee account and seek the seller’s consent to settle this out of completion funds
Between exchange and completion
- Raise ‘requisitions on title’ and prepare the draft transfer deed
- 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
This is the date the ownership of the property passes from the seller to the buyer, and it follows the successful transfer of funds. It’s the date that the whole process works towards
This is the date the ownership of the property passes from the seller to the buyer, and it follows the successful transfer of funds. It’s the date that the whole process works towards.
- Receive completion funds and (only when this has been completed) and will instruct estate agents to release the keys to buyers. Redeem mortgage and forward the financial statement. Forward any surplus funds (unless these are being used to fund an onward purchase). Ensure all outstanding bills are paid
- Forward transfer documents and deeds to the buyer’s solicitors
- Forward evidence of ‘discharge of mortgage’ to the buyer’s solicitors
- Forward to the seller’s solicitors the balance of funds - it is only then that they can authorise the release of the keys. Receive from the seller’s solicitors, the transfer document deeds
- Stamp the Transfer Deed, register the buyer’s ownership with the Land Registry and forward the deeds to the lender or client (where appropriate)