Buying your first home is exciting, but between having an offer accepted and collecting the keys, there are a number of legal steps that need to be ticked off before the purchase can go ahead.
This legal process is known as conveyancing. If you’re buying your first home this summer, here’s a straightforward guide to what the conveyancing process actually involves.
What is conveyancing?
Conveyancing is the legal process of transferring ownership of a property from the seller to the buyer. It begins once your offer has been accepted and ends when the purchase is completed and the property is legally registered in your name. The process usually takes 8-15 weeks but this can vary.
A conveyancing solicitor will handle the legal work on your behalf, ensuring that the property can be transferred correctly and that there are no legal issues that could affect your ownership.
What does the conveyancing process involve?
Step 1: Instructing a conveyancer
One of the first steps in buying your first home is choosing a solicitor. It is often sensible to do this as soon as you begin your property search, so you are ready to move quickly when your offer is accepted.
Once instructed, your conveyancer will open your file, verify your identity, explain the process and request information about your purchase and mortgage, if you’re having one.
Step 2: Reviewing the contract pack
The seller’s solicitor prepares a contract pack containing important legal documents relating to the property. This usually includes the draft contract, title documents, property information forms and details of any fixtures and fittings (things like white goods and light fittings) that will remain in the property after the sale.
Your conveyancer will carefully review these documents to ensure there are no unexpected issues, such as restrictions affecting the property or discrepancies in ownership.
Step 3: Carrying out property searches
One of the most important parts of conveyancing is carrying out searches with the relevant local authorities.
These searches help identify things that may not be immediately obvious when viewing the property. They can reveal issues such as planning restrictions, flood risk, drainage arrangements, road adoption, environmental concerns or local developments that could affect the property now or in the future.
If anything unusual is revealed, your conveyancer will explain the findings and advise on any further investigations that may be needed.
Step 4: Raising enquiries
It is common for your solicitor to raise additional enquiries with the seller’s solicitor after reviewing the paperwork and search results. These questions might relate to alterations carried out at the property, building regulations approval, guarantees for works completed or clarification of information provided by the seller.
This stage helps ensure you have a really clear understanding of what you are buying before you become legally committed to the property.
Step 5: Receiving your mortgage offer and signing documents
If you are buying with a mortgage, your lender will issue a formal mortgage offer once their checks have been completed.
Your conveyancer will review the offer, explain any important conditions and ask you to sign the legal documents needed to proceed. You will also be asked to transfer your deposit in readiness for exchange of contracts.
Step 6: Exchange of contracts
Exchange of contracts is the point at which the purchase becomes legally binding.
Both parties agree on a completion date (usually about 2-4 weeks later), contracts are exchanged between the solicitors and you’ll pay your deposit. After this stage, neither party can withdraw without potentially facing financial consequences.
For many buyers, this is when the purchase is legally binding – and often when it starts to feel real.
Step 7: Completion and collecting the keys
On the agreed completion date, the remaining purchase money is transferred to the seller’s solicitor. Once the money has been received, ownership officially changes hands and you can collect the keys to your new home.
Your solicitor will then deal with the final legal formalities, including paying any stamp duty that’s due and registering your ownership with HM Land Registry.
First-time buyer conveyancing: FAQs
What is conveyancing?
Conveyancing is the legal process of transferring ownership of a property from the seller to the buyer.
When should I instruct a conveyancer?
Ideally, you should instruct a solicitor before or as soon as your offer on a property is accepted.
What searches are carried out during conveyancing?
Common searches include local authority, environmental and drainage searches, along with any others that may be specifically relevant to the property or its location.
How long does conveyancing usually take?
Most residential property transactions take between 8 and 12 weeks, although this can vary depending on the complexity of the purchase and the length of the property chain.
Can anything delay the conveyancing process?
Yes. Delays can arise due to property chains, mortgage approvals, search results, outstanding enquiries or waiting for documents from third parties. Good communication between everyone involved can help keep the transaction moving.
Expert legal support makes a real difference when you’re buying your first home. Set yourself up for success by contacting Batt Broadbent.