Buying and selling a house is generally not a quick process, and all of the steps can take several months to complete. It’s good to know exactly what happens throughout, so that you can be aware of what you need to do, and what your conveyancing solicitors are doing.
Find Your Conveyancing Specialists
The very first thing you need to do is find the lawyers you want to work with; this will involve shopping around, reading reviews, and finding a reputable company. You’ll also need to get a comprehensive quote for all of the work that needs to be done.
Contract Preparation
Once you’ve appointed a lawyer to work for you, the process will begin. The first step, though potentially lengthy, is essential. Contracts will be prepared on your side, and then the necessary checks will be carried out on the other party. This is to ensure that there are no hidden problems, and that the sale or purchase can be undertaken without any issues.
Contract Exchange
The contract exchange is vital in the process, as this is when the legally binding agreement to buy or sell occurs. Once this point has been reached, the sale or purchase is certain to go ahead. It is usually during the exchange of contracts that the deposit is also paid.
Final Checks
From the contract exchange onwards is the time in with the lawyers work to reach completion. This can take anything from a day to several weeks, depending on certain details. There will also be further checks to ensure that nothing about the property changes between agreement and completion.
Completion
Completion is the final step to the conveyancing process, and is when ownership of the property is transferred from whoever is selling it, to whoever is buying it. All funds must be paid by this time; a transaction which is also overseen by your lawyers. There may be a select few things to be sorted after completion, including registering who owns the property, but the bulk of the work will have been done.
You can get a Conveyancing quote online now by using a comparison website such as Homebuyer Conveyancing. The good news about this site is that you can compare total sum quotes by price, mortgage lender and by location without entering your personal details. No spam. In addition the purchase Conveyancing quotes include a search pledge. If you fail to transact through no fault of your own you get another set of property searches for free up to a value of £300. Finding the right conveyancer just became so much easier.
