Conveyancing is the legal transfer of a property from one person to another. The majority of people choose to use a conveyancing solicitor or a licensed conveyancer to do this and if you are getting a mortgage your lender will insist you have a professional handle the paper work.
The role of the solicitor in the conveyancing process is to prepare and exchange contracts, as well as arrange completion and finalise details. Follow our 12 easy steps to buying a property and the role your solicitor will play in this process:
Stage 1 – You have chosen the house/apartment you wish to purchase.
Stage 2 – You make an offer (subject to survey) and it is accepted by the seller.
Stage 3 – The Estate Agent confirms (by way of a Memorandum of Sale) the details of the sale and sends those to both the Buyers and Sellers Legal Representative.
Stage 4 – You make your mortgage application.
Stage 5 –The property is valued/surveyed by the Lenders Valuer (and possibly your own independent Surveyor).
Stage 6 – Subject to the valuation/survey not revealing any adverse matters you instruct your Legal Representative to proceed. In practice you may well have already spoken to your Legal Representative and appointed them. The preliminaries of the transaction, namely they having sent to you their terms of business and sought from you your proof of identification and proof of address, may have already been undertaken.
Stage 7 – Your Conveyancer applies for the searches against the property and also receives the Contract paperwork from the sellers Solicitors. The Solicitor then starts to investigate the Title to the property and investigating the information which the Seller has provided about the property.
Stage 8 – Your Lender issues a written offer of mortgage to you.
Stage 9 – Provided that all the searches have been completed and they are satisfactory and that all enquiries as to Title and other matters have been satisfactorily concluded you are in a position to sign your Contract, pay your deposit and agree a date for the change of ownership with the Seller (known as the completion date).
Stage 10 – The parties having agreed a completion date and having confirmed that they are ready to bind themselves to each other, Contracts become binding. This process is known as ‘exchange of Contracts’ and is undertaken between the Sellers and Buyers Solicitors.
Stage 11 – On the day of completion (that being the date already agreed in the Contract) your Conveyancers pays over to the sellers Conveyancer the monies to complete the transaction. Those monies are derived from your Lender and any balance monies that you have to pay bearing in mind that you will have already paid normally a 10% deposit when exchange of Contracts took place.
Stage 12 – You open a bottle of champagne to celebrate your newest acquisition whilst your legal representative quietly gets on with registering your Title to the property at the Land Registry.
For a free no obligation quote please contact on 0151 735 1000 or fill out an enquiry form. We look forward to getting you moving. Although EAD Solicitors are based in Liverpool, and Huddersfield we can act for the sale of your property throughout England and Wales.
Extremely happy with the outcome of my Personal Injury Claim and can only thank Paul McCarthy and his team at EAD Solicitors and also Tim Trotman my barrister arranged by EAD, for all their work and efforts on my behalf. As such I would highly recommend EAD to anyone in need of their service. Once again thanks to all involved.
Brodie Martin, Merseyside
Excellent, very professional, approachable when I needed advice. I would just like to say thank you to your staff.