Property transactions can often be complicated and require the expertise of an experienced conveyancer to provide guidance and support. However, we believe it is also important for potential homebuyers and sellers to have a comprehensive understanding of the process. This allows them to set realistic expectations and gain an overview of the conveyancing timeline.
It is important to note that this blog is intended for educational purposes only and should not be taken as legal advice. If you require advice that is tailored to your specific circumstances, we recommend contacting one of our conveyancing solicitors who will be able to answer any questions you may have.
In this blog, we will discuss the following, as well as breaking down the conveyancing process into a step-by-step guide:
- What is conveyancing?
- The six stages of the conveyancing process timeline
- How can we help?
If you are considering purchasing or selling a property, you can contact one of our offices in Ashford, Cranbrook or Hythe by calling 01233 624545. Our friendly team will be more than happy to answer any initial questions you may have. Alternatively, you can use our easy-to-use contact form to request a call-back and someone will be in touch with you as quickly as possible.
You can also use our conveyancing calculator to get an idea of what costs you will incur during this process.
What is conveyancing?
Conveyancing is the overall legal procedure of transferring ownership of a property from the person selling it to the person buying it. This process is initiated once the seller has accepted an offer on a property that the buyer has put forward. It ends, for the client, once the purchase is finalised and the buyer has received the keys to the property. This is known as the ‘completion day’. However, your lawyer will then still need to complete the stamping and registration process which can also take some weeks. After this period, a copy of your title will be sent to you and the Conveyancer can then close and archive your file.
This process is important as buying a home is a significant milestone for most. This process ensures that the purchase is compliant with any relevant laws and provides protection for both buyer and seller. Conveyancing can also be expensive, so it is essential that you work with an experienced Conveyancer or Solicitor to prevent any delays that could incur further costs.
What are the stages of conveyancing?
First stage - Instruction
After the seller accepts the buyer’s offer on their property, both parties relay the details of the transaction to their conveyancing solicitor. These terms are formalised into a letter alongside an estimated cost breakdown, initiating the legal proceedings.
The conveyancing solicitor will also request a form of identification and the buyer will need to provide evidence of their funding source, for example, a letter from their mortgage lender.
Typically, the conveyancer will ask for a deposit to cover expenses such as property searches and title documentation. Generally, this stage can take up to two weeks.
Second stage - Production of contract papers
Following the first stage, the seller will then, if not already done so, need to fill out certain forms, including a property information and contents form and (if applicable) a leasehold information form. These forms make up the contract papers, with details directly from the seller about the property that is being sold.
The contract papers should also include evidence from the Land Registry proving that the seller legally owns the property. The conveyancers involved will then prepare a draft contract outlining the property transaction’s terms and conditions and submit contracts to the buyer’s solicitor. This stage should be done within a few days.
Third Stage - Investigation of title and property checks
Once the contract papers have been received, the buyer’s conveyancing solicitor will then review the information provided and raise any initial enquiries about the property that they deem necessary. This can include questions about the contract, title or even the property itself. The seller is required to provide honest responses to these questions before the buyer continues with the property transaction.
The buyer’s solicitor will also begin any relevant property searches on the property to ensure that the title is suitable for sale. A detailed survey should be conducted by a highly qualified surveyor at this point to uncover any issues with the property, and it is the buyer’s responsibility to organise this. This process can take between four to six weeks, depending on the return of the searches.
Fourth Stage – Reporting and signing of contracts
When the buyer’s conveyancing solicitor is satisfied with the answers provided and that the title has been checked sufficiently, they will then report to their client with the contract whilst advising them on the title being offered and the overall transaction, ensuring that the buyer is happy with the report.
Once this has been completed, the conveyancers will then obtain updates to organise a date for exchange and a completion date. This stage typically takes around two weeks. This is because the entire chain needs to be at this stage before an exchange can be agreed.
Fifth Stage – Exchanging contracts
After both parties have signed their respective contracts, the contracts will then be formally exchanged, and a completion day will be agreed upon and entered into the contract.
Sixth Stage – Completion day
On completion day, the money for the property will be transferred from the buyer to the seller, and the keys will be given to the buyer, who will now own the property. Your Conveyancer will then finalise the transaction by attending to the stamping and registration and send you a copy of your title once done. This can take some weeks if there is a back-log at HMLR.
How can we help?
Our conveyancing solicitors are experts in conveyancing for sellers and buyers and have supported many clients through a wide array of property transactions. We have the expertise to help you avoid any potential pitfalls, prevent costly delays, and keep you fully informed throughout the entire transaction. We believe that transparency is incredibly important during this process, so we ensure that all your questions and concerns are heard and addressed.
Contact our conveyancing solicitors
If you are considering purchasing or selling a property, you can contact one of our offices in Ashford, Cranbrook or Hythe by calling 01233 624545. Our team will be more than happy to answer any initial questions you may have. Alternatively, you can use our easy-to-use contact form to request a call-back and someone will be in touch with you as quickly as possible.
You can also use our conveyancing calculator to get an idea of what costs you will incur during this process.