What Is Conveyancing
After the stress and at times, tedium, of selling your house once you’ve finally found a buyer you feel great: but what happens next? The term Conveyancing can often make the process seem very complex, but in the hands of a professional it is relatively straightforward.
Firstly the solicitor dealing with your Conveyancing will obtain the property’s title deeds, along with the relevant land registry documents. At this point they will also require you to complete two forms; a ‘Property Information Form’ and a ‘Fixtures, Fittings and Contents Form’, and also provide other documentation relating to the property, such as reports on timber, at your solicitors request.
Once the solicitor has all the required documents, they will then create a draft of the contract and send this to the solicitor acting on behalf of the buyer. At this point the necessary searches will be carried out by the buyer and their solicitor, which usually takes approximately four weeks, but in some cases longer.
If the buyer’s solicitor has any queries regarding the property or the documents, then they will raise these with you via your solicitor and you will work together to find a resolution. Once all the queries have been dealt with, a completion date is chosen, and the contracts are signed by both parties involved and the buyer pays the initial deposit.
On the completion date the buyer’s solicitor will transfer the sale price balance to your solicitor in exchange for the deeds and keys to the property, and it is at this point the ownership is transferred. Your solicitor will then make any mortgage payments outstanding, take their legal fees, and transfer the remainder of the sale price balance into your account, then pass the balance to you, minus their agreed legal fees.
Widdows Mason Conveyancing solicitors. Widdows specialise in providing a comprehensive Conveyancing service and can offer help and expert legal advice during the process.
