Conveyancing & Moving – A Simple Guide to Property Bliss

When it comes to property, Conveyancing is in essence, the preparation of legal documentation for the exchange of home ownership from a seller to a buyer. In a house sales scenario, a licensed Solicitor or Conveyancer is taken on to initiate and oversee the legal transaction that governs the transfer of house deeds from one person to another. Conveyancing can also refer to the practice in which a mortgage or loan is granted but its focal points are on the stages that include the contracts and completion of a property sale.

Exchange of contracts

When a person sells a property, they instigate the passing on of the equitable title of their property, commonly known as the ‘exchange of contracts’. These contracts contain complex legal issues, requirements and agreements pertaining to the home for sale and make the use of Conveyancing a necessary service to negotiate these terms. Conveyancing is generally used again at the end of the sale process when the legal title of the property is passed, more informally known as ‘completion’.

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How long does the process take?

Although entirely reliant on economic, legal, social and personal circumstances, Conveyancing generally takes about 10-12 weeks from start to completion and begins once you, the buyer, has agreed on a price with the seller. As a survey of the house for sale commences, the Solicitor hired for your Conveyancing needs will begin pre-contract enquiries and searches regarding the property. Your licensed Conveyancer will then look over the draft contract documents and relevant advice sent by the seller’s Solicitor/Conveyancer and will hopefully approve their content.

Once contracts have been exchanged, your agreement is legally binding but it is worth noting, that up until that point either party, for whatever reason, can pull out of the house sale. However this is not the same for all of the British Isles, as under Scottish law, the transaction is iron clad once the initial offer has been accepted, saving both parties time and money from late withdrawals.

Conveyancing for £99?

A good Solicitor to steer your Conveyancing ship is worth their coin and can be found at a competitive price. However, although you may be able to find initial Conveyancing quotes for as little as £99, these claims often mask a range of hidden costs. Experience has also taught us that it is impossible to see through the entire process comprehensively and legally for this amount of money; so be vigilant, do your research and compare as many Conveyancing Solicitors as possible through a reputable agent. Once you’ve found the right Solicitor/Conveyancer for you, agree on a fixed fee and timescale at the beginning to make sure that your ideals, deadlines and individual Conveyancing needs are appropriately met and then you can really kick back and enjoy your new home!

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