Conveyancing Process - Selling & Buying A Property | Fletcher Longstaff
Fletcher Longstaff

Conveyancing Process

Here is a quick guide on the conveyancing process, and things you need to be aware of when buying or selling a house.

The conveyancing process doesn’t have to be daunting.

However, it is something that happens when the ownership of a home is legally transferred from a seller to a buyer. So it is important that you understand the steps that need to be taken, whichever side of the property conveyancing process you are on.

We have put together a handy guide to help you understand the steps that you need to take, as well as things to be aware of along the journey.

How long does Conveyancing take?

On average, we allow for a standard freehold conveyancing transaction to take around 8 weeks from the collation of all paperwork.  If the property you are selling/purchasing is a Leasehold property, this transaction will take on average 12 weeks, due to third party involvement and the sheer amount of paperwork related to these types of transactions.

Can Conveyancing take less than 8 weeks?

Not all transactions will fit within the standard timescale and at Fletcher Longstaff we are happy to discuss your conveyancing transaction on a case by case basis, so that if we can complete your transaction sooner, we will do.  Either way, we will keep you informed every step of the way.

Initial stages of the property conveyancing process

The process of conveyancing begins when your offer on a house is accepted, and concludes when you have the keys in your hands. This can be performed by either a solicitor or a conveyancer, but using a specialist property conveyancer has several added benefits. The main one being that conveyancers are specialists in residential property law and have detailed knowledge of this specific area.

When looking into choosing a conveyancer, a good one will:

  1. Speed up your transaction.
  2. Reduce the chance of the deal falling through.
  3. Make sure the conveyancing process is as stress-free as possible.

Once you have appointed your conveyancer, they will then draw up terms of engagement with you. This will detail the charges and deposits required throughout the property conveyancing process too.

Your conveyancer will then write to your seller’s conveyancer to confirm that they have been appointed, and to request a copy of the draft contract and other standard forms. After this initial stage, the conveyancing process varies for whether you are buying or selling a property.

Conveyancing process for buying a property

  • The contract pack is obtained from the seller’s conveyancer.
  • The buyer’s conveyancer checks the contract pack, raises any queries and obtains a copy of the mortgage offer.
  • Any pre-contract questions raised are answered by the seller, before being returned to the buyer’s conveyancer.
  • The conveyancer reports to the buyer on the contents of the contract, pre-contract enquiries, results of the searches and mortgage offer.
  • When the buyer is content, the deposit is paid to the buyer’s conveyancer, in preparation for the exchange of contracts.
  • Seller and buyer agree on a completion date, and contracts are officially ‘exchanged’.
  • The buyer’s conveyancer prepares a draft transfer deed & this is sent to the seller’s conveyancer for completion.
  • The seller’s conveyancer approves the draft transfer deed, and a final copy is produced.
  • Then, back to the buyer’s conveyancer who prepares a completion statement, and applies to the mortgage lender for a loan.
  • Upon completion, the buyer’s conveyancer sends the proceeds of the sale to the seller’s conveyancer.
  • The keys are then released to the estate agent, along with the title and transfer deed to the buyer’s conveyancer.
  • Then, the final bits are carried out by the buyer’s conveyancer – sending stamp duty, and registering the property in the name of the buyer.

Conveyancing process for selling a property

  • The seller’s conveyancer carries out proof of identity checks and sends property information forms out.
  • The seller’s conveyancer obtains title deeds and any other documents required by the land registry, as well as preparing the draft contract.
  • The contract is checked over by the buyer’s conveyancer, and any questions are resolved by the seller’s conveyancer.
  • An exchange date is decided upon, and the seller’s conveyancer will obtain a settlement figure to pay off any outstanding mortgage.
  • A transfer deed is drafted by the buyer’s conveyancer, which is then sent to the seller’s conveyancer for checking.
  • Upon completion, the seller vacates the property and hands over the keys through an estate agent. The proceeds of the sale are then sent to the seller’s conveyancer.
  • The seller’s conveyancer then sends the title deeds and transfer deeds to the buyer’s conveyancer, and pays the estate agent and mortgage lender (if applicable).
  • Once the conveyancer takes payment for their services, the remaining money is transferred to the seller.

Speak to our team of experts today

As with all property conveyancing, no matter how proactive and efficient one firm is they need to rely on the other conveyancers involved in the conveyancing process. It is also vitally important you keep in contact with the seller of the property you wish to buy or vice versa as you may need their assistance later in to the transaction to help push things along.

We really hope that you have found this article useful. If you require any more information about the conveyancing process, please do not hesitate to contact our team of experts today.

Our Frequently Asked Questions

People ask us a lot of questions, so we thought we'd share the ones we're asked the most

How much will my conveyancing cost?

+

As you’d expect, there are conveyancing fees, but we’ll always offer you a fixed fee quote upfront to help you budget. After that, we work extremely hard to ensure you’re always getting maximum value for money from start to finish.

You can get a conveyancing quote quickly, through our website or by calling us directly.

As well as offering fixed costs we also offer a no completion, no fee service. So, if for some reason your purchase falls through, you won’t have to pay for our service only third party disbursements.

What’s the difference between conveyancing and surveying?

+

The two get very mixed up – we have broken down the difference between conveyancing & surveying for you, in a non-complicated way!

Conveyancing is the process of legally transferring ownership of a property from one person, couple or group, to another, including the transferral of fees. It involves aspects that relate to the land a property is built upon such as the boundaries and can include checking factors such as the chances of the property suffering from flooding or subsidence, or whether there are new buildings planned in the area.

Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you’re buying to check that it’s as good as it looks from the outside.

What is stamp duty?

+

Stamp Duty, otherwise known as Stamp Duty Land Tax (SDLT) is a tax on the purchase price of land and buildings. It’s charged at different rates for different sale prices. If you are buying a new Lease then you may also have to pay Stamp Duty on the rent, and your lawyer will advise you when they receive the contract paperwork. Please visit the HMRC website to calculate your Stamp Duty.

Do I need a conveyancer that is based locally to me?

+

No, not at all, you don’t need a local conveyancer. Thanks to modern technology you can choose the best conveyancer for you wherever you’re based anywhere in the country. We find that nowadays most people like to contact us through phone or e-mail rather than taking time out to come into our offices so that’s the way we work.

Whether you’re buying or selling in Lincoln, Lincolnshire, or anywhere else in England or Wales, we keep you in touch with your case as much as possible and you can phone or e-mail us here whenever you need to.

If you’d really like to come and meet us in person that’s fine too – we’re real people who don’t hide behind call centres.

How do I track my case?

+

Once you have instructed us you will be invited to track your case via our new App. We will send you an e-mail so that you can gain access to your file and easily begin tracking your case and communicating with your Conveyancer. If you have any queries on this please contact us.