What is conveyancing?

Conveyancing is the process involving the legal transfer of a property from a seller to a buyer.

Written by: Aaron cage

IN THIS GUIDE
  • Why do I need legal help to sell a property?
  • What will my conveyancer do?
  • How long will the process take?
  • How to choose which conveyancer to use?
  • What is completion?

The conveyancing process usually starts when an offer is accepted on a property - it ends with what is called the 'exchange of contracts'.

After contracts have been 'exchanged' - both the buyer and the seller are legally bound to go through with the transaction.

Before exchanging contracts, either party can easily pull out of the deal (often without any penalty at all).

Why do I need legal help to sell a property?

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.

What will my conveyancer do?

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.

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.

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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.

Before your conveyancer asks you to sign the contracts, they will usually make the following enquiries:

  • Does anyone have a right to access your property or grounds?
  • Is there a lease associated with the property and if so, what are the terms?
  • Have any of your property rights been removed using covenants?
  • Ensures that the person selling the property, really owns the property.

After exchanging contracts, your conveyancer will:

  • Help with the money transfers.
  • Update HM Land Registry with the new owner's details.

How long will the process take?

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.

How to choose which conveyancer to use?

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.

Moving home

What is completion?

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.