The Conveyancing Process
Conveyancing is the legal process for transferring ownership of property from one person to another. The exact process depends on whether you are buying, selling, buying and selling or simply remortgaging.
Stage One: You Have Accepted An Offer On Your Property
Your solicitor will prepare all the necessary legal information and a contract for sale, liaising with the buyer’s solicitor. If your property has an outstanding mortgage, your solicitor will contact your mortgage provider and obtain a settlement figure.
At this stage the parties will agree a completion date, and contracts will be signed.
Stage Two: Exchange of Contracts
The buyer’s solicitor will send the purchase deposit to your solicitor, along with their client’s contract. Your solicitor will check over the contract reporting to you if necessary, before sending your contract to the buyer’s solicitor.
The deed of transfer will be signed in preparation for completion.
Stage Three: Completion
On the arranged completion day, you will have vacated the property. The keys will be released to the new owner once your solicitor has received the balance of purchase monies.
Your solicitor will account to you for the balance of any monies, completing the transaction.
