What is Conveyancing?

Conveyancing is the legal process of transferring ownership of a property from one person to another. A conveyancer is a professional who specialises in this area and can assist with all aspects of the process, from start to finish.

Conveyancing can be a complex and stressful process, so it's important to have someone on your side who knows what they're doing. A good conveyancer will make sure everything runs smoothly and that you understand what's happening every step of the way. They can also offer advice on any potential problems that may arise.

The Conveyancing Process

The first step in the conveyancing process is to instruct a conveyancer. This can be done either through a solicitor or a licensed conveyancer. Once instructed, your conveyancer will request a copy of the contract from the seller's conveyancer.

Once your conveyancer has received the contract, they will carry out some initial checks. This includes making sure that the property is registered at the Land Registry and checking for any planning restrictions that may apply. Your conveyancer will also check to see if there are any outstanding mortgage payments or other charges that need to be paid off before completion.

Your conveyancer will then send you a report outlining their findings and confirming that they are happy to proceed with the transaction. At this point, you will need to pay a deposit (usually 10% of the purchase price). This deposit is paid into a special account and held until completion.

The next step is for your conveyancer to request further searches from your local authority. These searches are designed to uncover any information that may affect your decision to buy the property, such as plans for future developments in the area that could lower its value.

Your conveyancer will also arrange for a surveyor to visit the property and prepare a report on its condition. This report will highlight any structural defects or other problems that may need to be addressed before completion.

If you're happy to proceed, your conveyancer will then exchange contracts with the seller's conveyancer. At this point, both parties are legally committed to going ahead with the sale/purchase and cannot back out without incurring financial penalties.

Once contracts have been exchanged, your conveyancer will arrange for a date of completion (the day on which ownership of the property officially transfers from seller to buyer). On completion day, your mortgage lender will release the funds needed to pay the purchase price of the property and any other associated costs (such as stamp duty). The seller's conveyancer will then send over the keys so that you can move into your new home!

As you can see, there's a lot involved in even a simple property transaction! That's why it's so important to have a good conveyancer on your side who can take care of everything for you and offer advice when needed. If you're thinking of buying or selling a property, make sure you instruct a professional conveyancer who can guide you through every step of the process.

We specialise in conveyancing. Call us now for a no obligation quote or visit our website : www.mjpconveyancing.com