Navigating the legal side of things when you’re buying or selling a property can feel overwhelming. The legal process of transferring property ownership – known as conveyancing – plays a crucial role. But understanding each stage of this process can make the experience less stressful.
Here’s a step-by-step guide to the conveyancing journey in the UK.
Step 1: Instructing a conveyancing solicitor
Once you’ve had an offer accepted (as a buyer), or accepted an offer (as a seller), your first step is to instruct a solicitor or licensed conveyancer to handle the legal work. Look for a legal firm with extensive experience in handling house sales and purchases, who prioritise good communication and have transparent fees.
Step 2: Pre-contract stage
If you’re selling, your conveyancer will request the title deeds to the property if these are not held digitally by the Land Registry. They’ll ask you to complete property information forms at this stage, and they’ll also prepare the draft contract to send to the buyer’s solicitor.
If you’re a buyer, your solicitor will review the draft contract they receive from the seller’s solicitor, check over the title deeds and raise any preliminary enquiries about the property – covering things like boundaries and planning permissions.
Step 3: Conducting searches
This step is carried out by the buyer’s solicitor, though it’s key for sellers to understand this stage of the process. Searches are checks carried out on the property to make sure there are no major issues with it. Searches can take several weeks, depending on the local authority’s turnaround time. They typically include:
● Local authority searches – looking for development plans, pollution levels and planning issues.
● Environmental searches – providing information about things like contaminated land or landfill sites nearby, the risk of flooding or ground instability and radon gas hazards.
● Water authority searches – checking the water source to the property, as well as drainage.
Step 4: Mortgage offer and survey
If you’re buying a property with a mortgage, your lender will carry out a valuation survey. You may also choose to commission your own more detailed home survey to assess the condition of the property.
Your mortgage offer must be formally issued and approved by your solicitor before you can exchange contracts.
Step 5: Replying to enquiries and agreeing terms
As the seller, you’ll need to respond to any enquiries made by the buyer, and this happens via each party’s solicitor. Both sides negotiate and finalise terms, including the completion date (moving day). Once everyone is satisfied, both the buyer and seller need to sign the contracts.
Step 6: Exchange of contracts
The point where solicitors exchange signed contracts is the moment the transaction becomes legally binding. The buyer pays the deposit, and also now takes on liability for the property, meaning that as a buyer it’s crucial to have buildings insurance in place on the new property from the point of exchange.
Step 7: Final checks and preparation
Just before completion, the buyer’s solicitor will:
● Carry out final searches (such as a bankruptcy check)
● Prepare a completion statement with monies owed, including stamp duty if due
● Request mortgage funds if applicable
● Ensure all documents are signed and funds are ready
Step 8: Completion
On the agreed date, the buyer’s solicitor transfers the remaining funds to the seller’s solicitor. Once received, ownership officially transfers, and the buyer can collect the keys – usually from the estate agent.
Step 9: Post-completion tasks (Buyers)
Conveyancing doesn’t quite end when the keys are collected. After completion day, the buyer’s solicitor will:
● Pay stamp duty if due
● Register the property with the Land Registry
● Send the buyer a copy of the title deeds
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