The conveyancing process can be extremely frustrating for
you, especially if you're unsure what should be happening
and when.
If you familiarise yourself with the main action points,
you'll have peace of mind that your conveyancing solicitor
is doing a good job and not dragging his feet.
This table lays out the step-by-step conveyancing process
for a typical sale.
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Your Conveyancing Solicitor will:
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You will:
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| Step
1 |
|
Instruct your solicitor. |
| Step
2 |
Send a Client
Care Letter. |
Sign and return the letter along
with proof of your identity and detail of your current
mortgage (if applicable). |
| Step
3 |
Send Property
Information Forms.
|
Fill out and return Property Information Forms along
with:
- any building work guarantees
- Any planning permissions or building consents you've
been granted.
|
| Step
4 |
Obtain your:
On leasehold property they will also ask your management
Co. for:
- Last 3 years service charge accounts.
- Their projected expenditure for the next 12 months.
- Building insurance details.
- A copy of the lease.
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Continue to instruct your solicitor.
|
| Step
5 |
Prepare the draft contract.
|
|
| Step
6 |
Compile a
contract pack & send it to your buyer's conveyancing
solicitor. |
|
| Step
7 |
Answer questions from your buyer's conveyancing solicitor
about the
contract pack.
Chase for confirmation that your buyer's mortgage
application has been approved.
|
Help your solicitor to answer these questions fully.
|
| Step
8 |
Negotiate a target
completion date with all parties & have this written
into the contract. |
Provide input on the
completion date negotiation |
| Step
9 |
Receive acknowledgement from
your buyer's solicitor that he & his client are happy
& ready to proceed. |
|
| Step
10 |
Send you the finalised contract.
|
Check the contract
and if happy, sign & send it back.
|
| Step
11 |
Swap signed contracts
with your buyer's conveyancing solicitor. Collect and
hold your buyer's deposit.
|
Have a glass of champagne because you've just EXCHANGED!!
You are now legally committed to the sale.
|
| Step
12 |
Confirm with your lender a
settlement figure for the
redemption of your current mortgage. |
|
| Step
13 |
Receive, check & forward
to you a
Transfer Deed from your buyer's conveyancing solicitor.
|
Sign the
Transfer Deed and return it as quickly as possible.
|
| Step
14 |
Receive from your buyer's mortgage lender (via the
buyer's solicitor) full payment for the purchase of
your home.
Send the Title
Deed if applicable &
Transfer Deed to your buyer's solicitor.
Pay himself, your Estate Agent (if you use one) &
the
redemption settlement owed to your current mortgage
lender.
|
Vacate your property and organise to hand over the
keys to the new owners.
Have another glass of champagne because you've just
COMPLETED!!
|
| Step
15 |
If you are simultaneously buying, forward the money
to your vendor's solicitor and forward any money left
over from the sale to you.
Receive the Title
Deed if applicable &
Transfer Deed for your new house.
|
You collect the keys for your
new home, move in & finish what's left of the champagne. |
| Step
16 |
Pay the Stamp Duty Land Tax and register you as owners
of your new home at H.M. Land Registry.
Forward your new Title
Deed to you or your lender (if you purchased with
a loan.
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