The Ins and Outs of Buying and Selling a Home: What You Need to Know About Conveyancing

Whether you’re buying or selling a home, it’s helpful to know what’s involved in the conveyancing process.

Here’s a simple, step-by-step guide to help you understand the different stages for a typical property sale and purchase.

The Selling Process

1. Hire a Conveyancer: Your conveyancer will confirm instructions, terms of business, and fees by letter.

2. Identity Checks: Complete identity checks, and fill out fittings and contents form and property information forms. Additional info may be needed if the property is leasehold.

3. Title Deeds and Mortgage Details: Your conveyancer will get the title deeds and mortgage details.

4. Draft Contract: The draft contract and supporting documents are prepared and sent to the buyer’s conveyancer.

5. Pre-Contract Enquiries: The buyer’s conveyancer checks the contract and raises enquiries, which you and your conveyancer will answer.

6. Agreement: Once satisfied with the answers, searches, and mortgage offer, the buyer’s conveyancer confirms.

7. Exchange Contracts: Agree on a completion date, and legally commit to the sale by exchanging contracts. The buyer’s conveyancer drafts the transfer deed.

8. Prepare for Completion: Check the transfer deed and sign it. Vacate the property and arrange for key handover.

9. Completion: The buyer’s conveyancer transfers the sale proceeds. Your conveyancer pays off any mortgage, the estate agent (if used), and their fees. Any remaining money is transferred to you.

The Buying Process

1. Make an Offer: Your offer is accepted.

2. Hire a Conveyancer: They will confirm instructions, terms of business, and fees by letter.

3. Arrange a Survey and Mortgage: Get a survey and apply for a mortgage if needed.

4. Contract Pack: Your conveyancer contacts the seller’s conveyancer to get the contract pack.

5. Pre-Contract Checks: Check the contract pack, raise enquiries, conduct searches, and review the mortgage offer.

6. Review and Report: Your conveyancer reports on the contract pack, searches, and mortgage offer. You review this and ask any questions.

7. Deposit and Exchange Contracts: Agree on a completion date, pay the deposit, and exchange contracts to legally commit.

8. Prepare for Completion: Your conveyancer drafts the transfer deed and completion form, which are approved and signed.

9. Completion: Your conveyancer completes final checks, requests the mortgage loan, and transfers the purchase funds. The seller vacates the property.

10. Post-Completion: Pay stamp duty, register the property in your name, and send required documents to the mortgage lender. Your solicitor will do all of this on your behalf.

Sellupfaster.com works with conveyancers that are experienced in handling time critical instructions where time is critical. When you sell your house fast with sellupfaster.com, you will have access to our recommended solicitors and not pay a single penny towards their fees. And you can be confident that each stage will be handled professionally.

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