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Conveyancing | A brief guide to buying and selling your home

What is conveyancing?

Whether you’re buying or selling a home, it’s a good idea to know what’s involved. Conveyancing is simply the legal transfer of home ownership from a seller to a buyer.  Whether you’re a First time Buyer or property Developer, a property transaction can be one of the biggest financial commitments for anyone!

Key dates

There are two key dates in the conveyancing process – the exchange of contracts and completion.  

The exchanging of contracts is the moment during the sale/purchase when everyone involved becomes legally committed to the sale. Before exchange, either party can withdraw from the sale or purchase without incurring further costs. What about completion? In brief, completion is when the property changes ownership, the seller accepts payment and keys are handed over to the buyer. 

Leading up to exchange of contracts

This is the stage where the buyers and sellers’ solicitors will communicate with each other (and with you!). At this stage both parties will agree a mutually convenient completion date.  The solicitors will do everything from drawing up a draft contract, checking ID’s, completing searches, to handling property reports, all whilst keeping you in the loop. 

Signing the contract

Once the buyer’s solicitors have received all the paperwork, they will get in touch with the buyers to discuss.  What happens next? It’s time to sign! Both the buyer and seller will each sign contracts to confirm the purchase. 

How long will it take?

The truth is, it is virtually impossible to give an exact timescale, it all depends on the circumstances!  We will always endeavour to get the transaction completed as soon as is possible, however the length of your chain, delays with searches, title of the property and other things outside of our control can sometimes affect this. 

The exchange of contracts

Once the buyers and sellers’ solicitors are happy with everything, they will arrange an exchange of contracts. A date for moving (completion date) is then agreed on (subject to contract) and the countdown to moving can begin! 

Completion – The Big Day!

Think about your child’s needs ahead of time. When purchasing their first bed, go for a double and add a safety rail whilst they are young, you will be grateful you purchased ahead as they get older.

Why choose Miller Metcalfe Conveyancing?

Here at Miller Metcalfe, we have the knowledge and expertise to make the process as easy and stress-free as possible.  Offering you;

  • A fixed fee guarantee!
  • No Move/No Fee (due to COVID-19 this protects you against any unforeseen circumstances.)
  • No hidden costs – our quotes are what you pay! Our disbursements are included within our quote so there are no hidden surprises at the end!
  • Tailored to You- you can easily complete your paperwork online or by appointment with our friendly team in our local branches.
  • A designated file handler- to look after and guide you through your sale or purchase and take you all the way through to completion.

A property transaction can be one of the biggest financial commitments for anyone. Our team works to ensure that the process is as simple and stress free as possible!

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