Conveyancing & Key Steps to Buying and Selling Your Home

Conveyancing – A Guide to Buying and Selling your home

Miller Metcalfe posted on 12th February 2021

Conveyancing is a crucial part of the home buying and selling process, ensuring that the legal transfer of property ownership is completed correctly. This guide provides an overview of the key steps involved, helping you understand what to expect and how to navigate the process smoothly, whether you’re a first-time buyer or an experienced property owner.

What is conveyancing?

You can read our guide on what exactly conveyancing is here – but in short, conveyancing is the legal process that transfers ownership of a property from the seller to the buyer. In the UK, this involves several key steps, such as conducting local authority searches to check for planning issues, ensuring the property title is clear, and preparing the necessary contracts. Both parties sign a contract, and upon exchanging contracts, the sale becomes legally binding.

The process also includes managing payments like deposits, Stamp Duty Land Tax, and registration fees. A licensed conveyancer or solicitor handles these tasks to ensure everything is legally sound. The procedures may differ slightly across the UK, with variations between England, Wales, Scotland, and Northern Ireland, particularly in how contracts are handled and when the transaction becomes binding.

This legal framework helps ensure a smooth transfer of ownership, protecting both the buyer and seller from legal complications.

Conveyancing 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 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.

How to Avoid Delays

To avoid delays in the conveyancing process, it’s essential to stay organised and proactive. Ensure that all required documents, such as identification and proof of funds, are provided promptly to your solicitor. Respond to any queries or requests from your conveyancer or solicitor quickly, as delays in communication can slow the process. It’s also important to have a mortgage offer in place early and arrange for any necessary surveys or searches as soon as possible. Lastly, make sure you’ve cleared any outstanding payments, like deposits or fees, before completion to prevent last-minute issues.

The Exchange of Contracts

Completion is the final step in the conveyancing process when the property officially changes hands. On this day, the buyer’s solicitor transfers the remaining purchase funds to the seller’s solicitor, and once the payment is confirmed, ownership is legally transferred. The buyer will then receive the keys, and the seller will vacate the property. It’s important to have all paperwork, fees, and final checks in order before this day to ensure a smooth handover and avoid any delays.

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 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!

Miller Metcalfe

Miller Metcalfe are approachable, friendly and committed to making your move as quick, simple and stress free as possible – just what every estate agent should be!

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