Conveyancing is the process involving the legal transfer of a property from a seller to a buyer.
It starts when an offer on a property is accepted and becomes legally binding when the contracts are exchanged.
Buying and selling property is a complicated process and involves such a large amount of money that it simply isn't worth taking the risk of doing your own conveyancing to save an insignificant amount of money (in context of the property value).
Whilst it is possible to deal with your own conveyancing, it is advisable to use the the professional knowledge and expertise of a legal representative to ensure that the legal details are dealt with correctly.
Your conveyancer will deal with the legal side of your property sale and purchase.
Whilst you don't have to use a legal representative, as property transactions are of such a high value, we would recommend you instruct a professional conveyancer to minimise your risk.Get Conveyancing Quotes
When selling property, your conveyancer will draft the contract of sale and provide the buyer with legal information about the property, as well as answer any legal enquiries from the buyer.
When purchasing a property, they will make all the necessary legal investigations and searches for you and your mortgage lender to ensure that you have full information about the property before you enter into a binding agreement with the seller.
When both parties (the buyer and seller) are ready, you can enter into a binding agreement to complete the sale on an agreed date.
On completion, your conveyancer will receive money from the buyer and deal with the repayment of any mortgages over the property.
The conveyancing process typically takes 6 to 8 weeks. There may be delays caused by various factors, such as if the buyer is in a chain.
It is worth considering a number of factors when choosing your conveyancer to assist you with the sale of a property. You may wish to consider location, reputation and cost of the firm.
Completion is the final stage in a property sale - it is when the sale money is transferred from the buyer to the seller. At the same time, the buyer receives the keys to their new home and can move in.